ABBANK wins Asian Development Bank’s ‘Trade Deal of the Year’ Award

Tuesday, Sep 13, 2022 12:23

Nguyen Thi Hong Nhung (second from left), director of ABBANK’s operations division, receives the ‘Trade Deal of the Year’ award given to her bank by the Asian Development Bank. — Photo courtesy of ABBANK

An Binh Commercial Joint Stock Bank won for ‘Trade Deal of the Year’ given to banks for outstanding achievements in trade finance at the Asian Development Bank Trade and Supply Chain Finance Programme Awards held in Singapore last week.

All banks participating in the ADB’s Trade and Supply Chain Finance Programme (TSCFP) are eligible to be nominated, and the winner was chosen this year from among more than 240 participants based on multiple factors such as how their transactions impacted the country and helped clients improve their business and how TSCFP contributed to the success of the transaction.

ABBANK, the only Vietnamese representative to win in this category, and its partner DBS (Singapore) won the honours.

An ABBANK representative said: “In the context of strong import-export growth, ABBANK has been developing financial solutions to support international payment transactions that are convenient and safe and minimise risks.

“[The] award once again affirms ABBANK's position and professionalism in the import-export finance market, bringing benefits to customers and the domestic trade market.”

In addition to working capital financing, the bank also offers import-export customers many other products and services such as UPAS L/C, discount of documents, guarantee, L/C re-issuance, and L/C confirmation.

The TSCFP Awards is among the most prestigious accolade in the banking and financial industry in Asia. — VNS

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