Consulting firm helps bank build strategies

Friday, Nov 29, 2013 16:51

PVcomBank and Boston Consulting Group representatives begin cooperation at the bank's headquarters in Ha Noi on Wednesday. — Photo

HA NOI (Biz Hub) ― Vietnam Public Bank (PVcomBank) and Boston Consulting Group (BCG) started a strategic project on Wednesday, through which the firm would help the bank build business strategies and form operation models within a year.

The company would also assist in training human resources and transferring technology.

PVcomBank chairman Nguyen Dinh Lam said the bank aimed to become one of the leading credit institutions in the domestic market, especially in financing the oil and gas sector, and it needed comprehensive and long-term restructuring for this purpose.

"Currently, we need assistance from leading international consultants to build banking and technology strategies to make development breakthroughs," he said.

PVcomBank was established in September as a result of a PetroVietnam Finance Corporation (PVFC) and Western Bank merger. It has VND9 trillion (US$428.57 million) in equity and VND100 trillion ($4.76 billion) in total assets.

BCG is a global management consulting firm and one of the largest private companies in the United States. ― VNS

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