In the context of Resolution 68 opening up great opportunities for private enterprises, building a solid governance foundation is becoming increasingly urgent. Following that orientation, VPBank is honored to be in the Top 5 enterprises with the highest ACGS assessment results in Vietnam in 2024, affirming the bank's pioneering position in improving the quality of corporate governance.
Seizing opportunities thanks to advanced management platforms
Recently, Vietnam Prosperity Joint Stock Commercial Bank (VPBank, HoSE: VPB) was honored in the Top 5 listed enterprises with the highest ASEAN corporate governance card (ACGS) assessment results in 2024.
The award was announced within the framework of the Workshop "Resolution 68-NQ/TW on private economic development: What opportunities for listed enterprises and public limited companies?" organized by the Vietnam Institute of Board Members (VIOD) in coordination with the State Securities Commission (SSC) in Hanoi.
At the workshop, policymakers, business leaders, investment funds, experts... all emphasized that the birth of Resolution 68 has affirmed the strategic position of the private economy in the new era. This is a great opportunity for listed companies and public companies to develop, especially in accessing long-term capital and improving competitiveness.
Throughout the workshop, speakers pointed out that corporate governance is a core factor that helps businesses take advantage of opportunities from Resolution 68. In the context of global competition, businesses not only need capital but also have to meet management standards according to international practices for sustainable development.
At the same time, the workshop agreed that modern corporate governance is the key for Vietnamese private enterprises to develop quickly and sustainably, integrating more deeply into the international market. Resolution 68 promotes the above trend, making governance a measure of trust and a lever to create long-term capital flows for private enterprises.
In fact, in Vietnam, some listed enterprises have begun to focus on complying with and improving the quality of governance according to international standards and practices, notably the application of ACGS. This is one of the initiatives of the ASEAN Capital Market Forum (ACMF), developed to promote good corporate governance practices and aim to build a transparent, integrated and sustainable regional capital market.
This set of criteria is a prestigious tool, using strict international standards to evaluate the quality of listed corporate governance, revolving around 4 main focuses: Right and fair treatment among shareholders; sustainability and perseverance; information disclosure and transparency; responsibility of the Board of Directors.
According to the ACGS score, listed enterprises in Vietnam still have a significant gap compared to the governance standards of the ASEAN region. However, leading enterprises in governance, including VPBank, have now recorded outstanding scores compared to the general domestic level and are close to the regional average.
VPBank representative shared: The excellent fact that the bank is in the group of 5 leading enterprises in ACGS scores in Vietnam is a clear testament to its persistent efforts to continuously improve the quality of governance according to best practices in the region and internationally. This year, VPBank also published the Independent Sustainable Development Report, continuing to affirm its pioneering position on the journey of sustainable development".
Pioneering in improving the quality of corporate governance
Over the years, VPBank has always considered corporate governance as the core foundation to ensure stable operations and long-term growth. The bank has proactively built a professional, effective and transparent governance system, in the spirit of "Over-the-top compliance".
All decisions in the bank are made on the principle of caution and integrity, for the long-term interests of shareholders and in harmony with the interests of stakeholders as well as the community.
In parallel with applying the ACGS criteria, VPBank also actively implements the governance principles according to good practices developed by the State Bank of Vietnam and the International Finance Corporation (IFC), along with the sustainability reporting standards of the Global Reporting Initiative (GRI) and 17 Sustainable Development Goals (SDGs) of the United Nations.
Notably, VPBank has recently issued an independent Sustainable Development Report for the first time, applying the latest updated GRI Standards set of the Global Sustainability Standards Board (GSSB).
The report is not only a summary of ESG activities in the past year but also demonstrates the bank's long-term commitment to a sustainable development strategy, focusing on balancing economic benefits, social responsibility and environmental protection. Not stopping there, VPBank has also just set a record when arranging a loan of 1 billion USD international to support sustainable finance from leading international financial institutions.
Previously, in 2024, VPBank recorded many outstanding achievements in the field of governance and sustainable development, when it entered the Top 10 Large-cap stocks with the Best Corporate Governance and for the 6th consecutive time in the Top 20 enterprises with the highest ESG score in the Sustainable Development Index (VNSI) basket.
The above series of achievements is a testament to the strategic vision and sustainable development orientation that the bank is pursuing, affirming the mission statement "For a prosperous Vietnam".
