Techcombank awarded best cash management bank, best trade finance bank

Vietnam’s second most profitable joint-stock bank in 2010, Techcombank’s transaction banking focus has driven growth in both cash management and trade finance businesses over the last year, FinanceAsia wrote in the country award 2011.

Vietnam’s second most profitable joint-stock bank in 2010, Techcombank’s transaction banking focus has driven growth in both cash management and trade finance businesses over the last year. With the fastest growing branch network in the country consisting of more than 300 branches and trade service centres nationwide, the bank won 5,709 new corporate clients since June, 2010 taking total corporate customers to almost 50,000. Techcombank was the first bank to connect with all the card systems in Vietnam, and is one of the few domestic banks with a specialised cash management team and with a technology platform able to execute online.

Techcombank’s comprehensive suite of trade finance products helped it record about $7.5 billion in transaction value across its trade finance network in the last twelve months. Catering to key local exporters, the bank ha s also launched a series of new segment-specific trade finance products in 2010 for firms in key food product industries. In addition, it launched a series of products to assist clients with financing requirements based around wide distribution networks.

Tags: Techcombank, Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Jun 16 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry