IFC awards "Best GTFP Issuing Bank in Asia" to Techcombank

This is a distinctive honour for Techcombank in such a fast growing economy as Vietnam and truly cements the Bank’s name as symbol of success and commitment especially in the trade finance business.

This award honors banks that have excelled in their operations in the Global Trade Finance Program (GTFP) of IFC, a member of the World Bank Group. IFC announced the awards during its 5^th Bank Partners Meeting in Dubai, United Arab Emirates in October 2012. Competition was stiff amongst 250 banks that have participated in GTFP as issuing banks, including 42 banks across 12 countries in Asia and 10 banks in Vietnam alone.

Speaking about the recognition, Simon Morris – Chief Executive Officer of Techcombank said:  “We participate in IFC's GTFP in order to expand the bank’s capabilities to meet our corporate clients’ needs in trade finance services. This prestigious award is an important recognition of the efforts of Techcombank in the national import trade finance sector. Techcombank remains committed to its customers across the country and to their growth and prosperity as part of the national development. Today, we thank our customers and our staff who have been so loyal to us year after year.”

Having joined the GTFP since 2008, and through its efforts during the past five years, Techcombank has become the largest and the most active customer of IFC in its GTFP. During three consecutive years, from 2008 to 2010, Techcombank also was awarded "The Most Active GTFP - Issuing bank in East Asia" by IFC.  

Since the beginning of the year 2012, Techcombank has received the award “Best Trade Finance Bank in Vietnam” from three other prestigious publications namely ‘Finance Asia’, ‘Asia Banking and Finance’,and ‘The Global Trade Review’.

Since its inception in 2005, the Global Trade Finance Program has issued more than 13,000 guarantees totaling $20 billion to banks for trade-related payment obligations of their financial-institution clients in emerging markets. In fiscal 2012, IFC provided $2.9 billion to support trade in the world’s poorest countries, and 79 percent of all guarantees went to small and medium enterprises. The programme includes more than 250 partner banks in more than 90 emerging-market countries.