Vietcombank named VN’s best bank
16:00 | 28/09/2018

VGP - The Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) has been named the best bank in Viet Nam in 2017 by Alpha Southeast Asia (Alpha SEA) magazine.

The award, held annually by the Hong Kong-based magazine, the first and only one focusing on Southeast Asia, is presented to outstanding financial institutions in the region. This is the 11th year the Hong Kong-based magazine has conducted the award.

It aims to honor the best financial institutions in Southeast Asia. It is selected based on criteria such as business strategy, management model with a view of offering its customers services that meet international standards, growth, profitability, high-quality products and services, and network development with the increasing number of customers.

This is the second consecutive year the bank has received this award from Alpha SEA.

Vietcombank is hailed for its effective business strategy; management model, professional operation with the focus on serving customers in accordance with international standards; good adaptation with market fluctuations and customer needs; and sustainable growth rate.

In 2017, it made a strong impression by becoming the first bank in Viet Nam to report pre-tax profit of VND11.341 trillion (about US$486.9 million), while its bad debts fell to only 1.1%, the lowest rate among major credit institutions.

With this award, Vietcombank continues to affirm its position as one of the best-performing banks in the domestic market, and its goal of becoming one of the top 100 financial institutions in the region and to reach the global top 300 by 2020.

Alpha Southeast Asia was established in 2007 and for almost twelve years now, is the first and only institutional investment magazine focused on Southeast Asia (Indonesia, Malaysia, the Philippines, Singapore, Thailand and Viet Nam). 

                                                                                                     By Vien Nhu

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