VIB receives ‘Leading SME Trade Bank’ award

March 31, 2015 | 15:04

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The Asian Development Bank (ADB) today announced to award the ‘Leading SME Trade Bank” prize to Vietnam International Bank, one of Vietnam’s leading commercial joint stock banks.

The award aims to honour banks for their outstanding achievements when participating in the Trade Finance Programme (TFP).

ADB's TFP seeks to fill market gaps for trade finance by providing guarantees and loans to banks to support trade.

VIB, which joined TFP in 2009, is one of the ten Vietnamese issuing banks currently in the programme that have been selected by ADB to finance import-export enterprises as well as to improve their productivity and competitiveness in the market.

The award is given based on the number of transactions performed under TFP.

As a leading bank in trade finance for small- and medium-sized enterprises (SMEs), VIB is the first bank in Vietnam to win this award.

On this occasion, ADB will also recognise VIB as the ‘Leading Partner Bank in Vietnam’ for its positive trade finance results. The award ceremony is estimated to take place in late April 2015 in Singapore.

Previously, on March 21, VIB won the ninth ‘Vietnam Excellent Brand’ award co-organised by Vietnam Economic Times and Ministry of Industry and Trade’s Vietnam Trade Promotion Agency.

The award is based on some criteria such as outstanding efforts in undergoing a tough year of 2014, development strategy, service quality, business results, and stability.

Some prestigious awards won by VIB in 2014:
* Bank with Outstanding Branch for 2014’ award presented by the International Data Group (IDG) and sponsored by the Vietnam Banks Association (VNBA) and the State Bank of Vietnam (SBV);
* ASEAN CIO of the Year’ award presented by IDG;
* VIB was the only bank in Vietnam having upgraded credit ranking in 2014 by Moody’s to become one of the only two banks with the highest bank financial strength rating among nine major Vietnamese banks rated by Moody’s;
*Best Global Trade Finance Programme (GTFP) Issuing Bank in Asia Pacific’ award offered by the International Finance Corporation (IFC).

By By Mai Thuy

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