F11-083 - Le Quynh Trang.v.1.1.docx

If the assets owned by the business are not

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If the assets owned by the business are not sufficient to pay off the debts treasury.
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+ No formal procedures + Independence and self- reliance + Commitment and motivation + Close to customers Disadvantages: + Total personal liability + Financial problems + Lack of cover incurred by the business, the owners cannot be compelled to make up the deficit from their private resources. The Companies Acts distinguish between: + Public limited companies + Private limited companies 1.3 : Explain the activities of Vietinbank in the respects of legal structures and its activity type and purpose. Based on information mentioned, it can be seen that Vietinbank opened up by partnership organized within the frame of commercial joint stock banks working under the charter and the law. Because Vietinbank is run by the government so it is in the public sector and it is built and funded from the public funds.Moreover, Vietinbank has two types of activities: personal and corporate. Personal activity – products and services for personal banking include 6 small activities:
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Saving accounts: the basic type of account at a bank that permit to store cash, keep it secure and withdraw funds as needed. Loans: a sum of cash that is borrowed from a bank and has to be paid back with an extra amount of interest. Card services: a card that provides convenience to customers when using the service. Wire transferring: a method of electronic stores exchange from one individual to another. Bank Account Package for Japanese Corporate activity – products and services for corporate banking include 8 small activities: Deposits: Vietinbank gives different stores and account management items to assist your Corporate to oversee money efficiently, assembly its payment and investment requirements. Loans: Vietinbank gives solutions about finance diversity and flexibly, meeting the need of capital quickly. Payment and Cash management International payment & Trade finance Foreign Exchange & Derivatives E-Baking: permits you to conduct your Corporate monetary exchanges and account administration every time and everywhere. Card service Life Insurance: brings the leading and the most ideal solutions for the employees.
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1.4 : Describe the current vision, mission, core values, goals and objectives (SMART) of Vietinbank. 1. Vision At present, Vietinbank is one of the largest banks in Vietnam. Their vision is to become one of the Financial and Banking Group in Vietnam on the same level with regional peers. A modern banking organization that is multifunctional and highly efficient. 2. Mission In the future, their plan is becoming a top bank that provides the great service to customers with modern convenient international banking and financial products and services.
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