SHB AWARDED “FASTEST GROWING TRADE FINANCE BANK” AND “MOST INNOVATIVE TRADE FINANCE BANK” IN 2014 BY GLOBAL BANKING AND FINANCE MAGAZINE REVIEW (UK)
Saigon-Hanoi Commercial Joint-Stock Bank (SHB) has recently been awarded by Global Banking and Finance Review as “Fastest Growing Trade Finance Bank” and “Most Innovative Trade Finance Bank” in Vietnam in 2014. SHB is the only commercial bank in Vietnam that has won these two awards so far.
Global Banking and Finance Review is a UK-based online news portal, formed and developed from growing demand for independent reports on global banking and financial activities. Readers include decision-makers in the Fortune 500 companies, major financial institutions and Central Banks of 190 countries. In addition to providing information and consulting services, every year the magazine applies a comprehensive set of selection criteria to honour outstanding achievements of financial institutions in different sectors: banking, insurance, fund management, securities brokerage, investment, etc.. Global Banking and Finance Review’s achievement awards are reliable standards for business performance and credibility of award winners. Banking and financial institutions that have achieved these awards include OCBC (Singapore), DBS (Singapore), Kashikorn Bank (Thailand), etc.
“Fastest Growing Trade Finance Bank” is an award based on criteria of growth in international payment and trade finance. From 2009 to date, growth rates in international payment and trade finance of SHB are always over 50% per year, the highest among Vietnamese commercial banks. In the next 5 years, SHB’s average growth rate is forecasted to be over 30% per year. Notably, the number of transactions and the number of customers using international payment and trade finance services of the bank have increased significantly in recent years. Specifically, in 2013, the number of customers doubled compared to 2012 and the number of transactions also doubled to nearly 40,000 transactions. In addition, SHB’s network of branches, transaction offices and correspondent banks is rapidly expanding, providing a clear testament to the strong growth of SHB.
With the slogan of “Solid Partner, Flexible Solutions”, SHB provides corporate customers with dynamic solution packages, suitable with business operations of each company. SHB’s trade finance solutions do not just stop at traditional services such as collection, letters of credit, etc. but also include innovative packages such as pre- and post- export financing, factoring, structured trade finance, etc. to meet the growing demands of companies. In addition, SHB’s trade finance products are tailored and customized to fit the characteristics of each industry, such as: rice, cashew nuts, coffee, seafood, textiles, etc. With the innovation and flexibility in trade finance policy, SHB has surpassed other major financial institutions to become the only bank in Vietnam awarded as “Most Innovative Trade Finance Bank” in 2014.
Being the only commercial bank in Vietnam winning these two awards from the Global Banking and Finance Review, once again SHB has proved its capability in international payment and trade finance, highly recognized by customers and international financial institutions.