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Measures Taken to Promote Kdnt Activities at Pgd


different business so sometimes work overlaps.


Since 2015, the head office's sales department has applied KPI and assigned profit targets.

profit for each transaction office and branch. Accordingly, any units that exceed the target

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assigned will be considered for rewards. Nguyen Thai Hoc Transaction Office initially exceeded the assigned target, being one of the few transaction offices in the Northern region to be rewarded.


Measures Taken to Promote Kdnt Activities at Pgd

2.3.4.7. Information Technology Quality


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Above, Eximbank has updated Korebank software to help

Employees work more conveniently. Foreign currency transactions with headquarters are mainly through the online transaction screen (for USD) and the Spark chat window (for other currencies). These forms of transactions have limits. Online USD transactions are usually limited to less than 300,000 USD - this limit changes from time to time; exceeding this amount, KDNT employees trade by phone. The Spark chat window is for transactions of other foreign currencies with an amount of more than 20,000.00 VND of that foreign currency; below this level, there will be an automatic price on the korebank screen.


However, the facilities such as machines at the transaction office are old, the software is not updated regularly, and the customer service department only has 1 computer.

printing should affect the progress of customer service a lot. When performing

The business had technical problems with both hardware and software, and the IT staff in the North did not provide much support, so the transaction office had to call the IT Center in Ho Chi Minh City for help, which cost a lot of money.


a lot of time interrupting work, sometimes even disappointing customers.


2.3.5. Measures taken to promote business activities at the branch


Up to now, for nearly 4 years, the Transaction Office has been allowed to independently account for and conduct foreign currency transactions independently from the headquarters, and has been assigned targets for

Sales and profits are separate from the branch. PGD has conducted

Some measures to promote foreign exchange trading activities.


In 2013, the PGD proposed and the branch approved the personnel for KDNT. Previously, the PGD did not have a full-time staff. In 2015, the PGD continued to recruit 01 more staff in charge of this activity. Up to now, there are 2 staff in charge of this service. KDNT is more valued at the PGD.


Information technology quality is always considered important at PGD. PGD has proposed to the technology center to replace computers with installed software.

Install the latest apps to help employees reduce working time

as well as fast and accurate accounting process.


In addition, the PGD always implements cross-selling of products. The department's initial success in sales activities is due to the cooperation with the credit department. The credit department introduces customers, thereby, this department also takes on the task of customer appraisal, avoiding credit risks and payment risks in sales.


2.3.6. Evaluation


2.3.6.1. Achievements


Thus, in the period of 2014-2016, the transaction office has made strong progress in foreign exchange activities in both revenue and profit. In 2016, Nguyen Thai Hoc Transaction Office was one of the transaction offices across the system that exceeded the target in terms of revenue and profit in the foreign exchange field, and was invited to attend the Foreign Exchange Business Conference organized by Eximbank to honor outstanding units. Achieving such results cannot be without mentioning the enthusiastic and responsible human resources and the close supervision of the Board of Directors.


Regarding sales and income from foreign currency trading activities with customers, in 2016, PGD achieved the highest results since the establishment of the transaction office. This result was achieved because starting from 2015, the head office foreign currency trading department began to apply KPI targets, with a clear reward system for branches and transaction offices. In addition, foreign currency trading activities are closely monitored by employees and department leaders, thereby not only increasing sales and income for the transaction office but also minimizing risks in foreign currency trading activities.


Regarding the ability to support other operations to the commercial bank's customer service operations, the department has also promoted cross-selling products and connecting different services. The policy of the department's leadership is that all employees must cross-sell products. Customer service staff


Savings stores not only introduce customers to savings products

not only that but also study abroad savings products along with other products.

products for transferring and receiving remittances, promoting the development of foreign exchange business. Actively introduce to customers convenient banking services.


To achieve the above, we cannot ignore internal factors.

at the origin

human resources and technology quality

information of

Eximbank. Transaction office staff in particular and in the entire Eximbank system in general

In general, the staff are professionally trained and the quality of information technology is always considered important for improvement by the management.


PGD ​​staff are always open and friendly, creating closeness with customers, so they are very popular with customers and attract many individual customers.

new. About

relationship

Customers, the board of directors always pay attention to

customers, there is a VIP counter to serve loyal customers. Separate and specific division of personal and corporate customer care.


2.3.6.2. Limitations


However, due to some subjective and objective reasons, the business activities of Eximbank Nguyen Thai Hoc transaction office are still limited and have outstanding difficulties such as human resources, information technology, etc.


Staff have not been assigned separate jobs.


not proactive in finding new customers. PGD's customers are all customers brought in by the Board of Directors. Employees have not searched

international payment by business customers

which. Therefore, the number

quantity

Customers are still limited. In addition, due to customer limitations, foreign currencies for payment are still limited, mainly limited to USD, EUR or JPY, there are no corporate customers paying in CAD or NZD, so they are also affected by exchange rate fluctuations. USD is often affected by exchange rate fluctuations more than other currencies. However, customers still pay in USD for countries with payment orders in China and even the European market. Only individual customers choose the appropriate foreign currency for payment orders.


The machinery and equipment are still poor. Although Eximbank is implementing many remittance payment programs, the machine interface is too old, making it difficult to install programs for accounting and approval. The software on the employees' computers is mainly WinXP, which is not compatible with many korebank programs, so the employees still have to do manual accounting, although information technology from the headquarters has been deployed but cannot be applied.


Customer care policy is still limited mainly due to limited budget. Customer care expense accounting policy only stops at customers classified as silver customers, gold customers or

Diamond customers but no separate policy for other customers

new customers. Therefore, the department still has to share the cost among customers. The international payment fee schedule has no incentives for customers. The fee is on par with competitors!


Along with many other subjective and objective difficulties. Therefore, the topic would like to propose some measures to further promote business activities at PGD.


CHAPTER

3: PROMOTION MEASURES

BUSINESS ACTIVITIES

FOREIGN CURRENCY AT VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK – NGUYEN THAI HOC TRADING OFFICE


In Chapter 2, we analyzed the current status of retail business activities, evaluated the effectiveness of retail business activities of Eximbank Nguyen Thai Hoc transaction office through some indicators to see the remaining limitations. Next, the article will consider the goals and directions for retail business activities of Eximbank in the coming time and propose some measures to promote the effectiveness of retail business activities at Eximbank.


3.1. Objectives and directions for foreign exchange trading activities at Vietnam Export Import Commercial Joint Stock Bank, Nguyen Thai Hoc Transaction Office in the coming period 2017 2020

The transaction office always identifies foreign exchange trading as a risky but highly profitable activity; therefore, it must always improve its operational capacity.

KDNT movement about

human resources

as

about technology. Especially now, the

Commercial banks all provide this service with many attractive offers for customers, so maintaining old customers and finding new customers is difficult. Competition is increasingly fierce, so transaction offices must always maintain and continue to promote strengths and minimize weaknesses to attract customers.


In today's volatile economy, exchange rate is a sensitive issue and also one of the factors that determine customers' choice of bank to serve them, so PGD determines to set high sales with each margin.


reasonable items to attract customers, ensuring profits for the bank. Therefore, PGD

always ensure enough

foreign currency resources

serve

diverse needs of

customers, attract customers. Thereby increasing profits in operations.

KDNT, increase rate

return

KDNT activities on total income, accounting for

about 2030% of total PGD revenue.


The trading room needs to develop more derivatives services to be autonomous.

We develop with the trend of other banks. Training human resources to master derivatives operations to advise customers not only avoid risks for customers but also create the image of the transaction office.


Transaction offices need to take advantage of the rejuvenation of employees, require dynamism in work, seek new customers while maintaining old customers. 3.2. Measures to promote the effectiveness of foreign exchange trading activities at Vietnam Export Import Commercial Joint Stock Bank, Nguyen Thai Hoc Transaction Office


Based on the analysis of the current status of business operations, identify the causes

factors affecting the effectiveness of business operations and based on the objectives,

career development direction

KDNT, to promote

effective

active

In order to promote KDNT, the topic proposes the following measures:


3.2.1. Completing and applying business intelligence operations


Diversifying business operations creates conditions for expanding business scale, creating growth in quantity and quality in business operations, and at the same time

support other operations, contributing to the overall development. Therefore,

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