Vietnam Technological and Commercial Joint Stock Bank (Techcombank) was honored to receive 2013 global “Best Issuing Bank Partner” award for its active participation in Global Trade Finance Program (GTFP) of International Finance Corporation (IFC), a member of the World Bank Group. The award was announced at the closing session of the IFC’s Global Trade Partners Meeting in late February 2014 in Lisbon, Portugal. This is the first time Techcombank has won the title The Best Issuing Bank Partner on a global scale. In the past, during many consecutive years, Techcombank was always awarded either the “Most Active GTFP Issuing Bank in East Asia” (from 2008 to 2010) or the “Best GTFP Issuing Bank in Asia” (in 2012).
GTFP, with more than 400 members all over the world, aims to extend and complement the capacity of banks to deliver trade finance by providing risk mitigation on a per-transaction basis in emerging markets. Techcombank has extensively expanded the relationship with IFC and has now become the most active and largest customer of IFC in its GTFP program.
“Our annual conference provides an unparalleled opportunity for our partners to learn from global experts and develop business leads in all regions,” said Georgina Baker, Global Head of Trade and Supply Chain Solutions at IFC. “We are pleased to acknowledge those banks that innovated or worked extensively with IFC last year to support the growth of emerging market trade and help more countries and firms integrate into global supply chains.”
The award, once again, honors Techcombank’s effort and success in efficient implementation of GTFP to finance enterprises in Vietnam, simultaneously, reaffirms prestige, competiveness and risk management capability of Techcombank – one of leading joint stock commercial banks in Vietnam.