Vietcombank is one of the largest commercial banks in Viet Nam and has won various international awards, including those by The Banker, Euromoney and The Asian Banker.—File Photo

HA NOI (Biz Hub) — The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank or VCB) has been awarded "Best Trade Bank in Vietnam 2013" by the Trade Finance Magazine, the bank said on Friday.

It is the sixth time in a row that Vietcombank, the only representative of trade banks in Viet Nam, has been awarded the title since 2008. The awards ceremony took place in Singapore on Wednesday.

The award is part of the annual Awards for Excellent granted to selected commercial banks and law and insurance firms that have developed a good reputation in international trade and payment services.

There are four categories of awards: Global Awards, EMEA Awards, Asia-Pacific Awards and Americas Awards with results based on customers feedback.

The selection process takes place in April every year and the magazine's voters selected institutions that "have truly met the needs of their clients", a press release from the bank said.

Meanwhile, The Banker, a global financial intelligence unit, has announced its top 1,000 world banks for 2013, in which Vietcombank ranks 445/1000 a rise of 91 ranks compared with last year.

The Banker also placed Vietcombank as third among the top five Asian banks with the highest capital growth. The ranking does not include banks from Japan and China.

Vietcombank is one of the largest commercial banks in Viet Nam and has won various international awards, including those by The Banker, Euromoney and The Asian Banker. — VNS