Vietcombank named VN’s best bank in 2018
16:59 | 09/07/2018

VGP - The Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) has won the Best Bank award in Viet Nam in 2018 by FinanceAsia. 

The annual award was evaluated based on the growth of financial indicators such as total assets and profit, quality of products and customer services and technological development.

The award aims to honour outstanding banks in each country, selected basing on such criteria as business strategy, management model with a view of offering its customers services that meet international standards, growth, profitability, high-quality products and services, network development with the increasing number of customers.

Last year, Vietcombank made a strong impression by becoming the first bank in Viet Nam to report pre-tax profit of VND11.341 trillion ( US$499 million). Its bad debts fell to only 1.1%, the lowest rate among major credit institutions.

Vietcombank aims to become the first bank in Viet Nam, one of the 100 largest in the region, one of the 300 largest banks and financial companies in the world by 2020.

Early, Vietcombank was also named Viet Nam’s best bank, best trade finance bank, best FX bank for corporates & financial institution in 2014, and Viet Nam’s best bank in 2015.

Currently, Vietcombank is rated among Vietnamese banks as the best in terms of asset quality and profitability.

This is the second consecutive year the bank has received this award from the Hong Kong-based magazine.

First published in 1996, FinanceAsia is the world’s foremost information source on the Asian financial markets. Published 11 times a year in Hong Kong, the magazine provides readers with the latest financial trends, interviews, features and investigative reports. The company is owned by Haymarket Media Limited, the largest privately-owned publishing group in the UK.

By Vien Nhu

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