International cooperation – Raising the level of VietinBank brand
International cooperation – Raising the level of VietinBank brand
In 2016, VietinBank successfully performed international cooperation activities. These not only helped VietinBank raise capital for business development but also boosted VietinBank's brand among investors and large financial institutions around the world.
Active and proactive
In Vietnam, VietinBank is the first bank (NH) to centrally process all international payment transactions (TTQT) and trade finance (TTTM) in accordance with international standards. This activity has provided customers (KH) with very high-quality, diverse, modern and convenient products and services related to TTQT and TTTM.
Along with this activity, VietinBank actively seeks and expands cooperation with international banks, thus finding the best solutions for customers. Accordingly, VietinBank has pioneered the successful implementation of foreign currency mobilization transaction structures in the international market as well as many successful large-scale programs and transactions with leading financial institutions in the world. In March 2016, VietinBank signed a USD200 million syndicated loan contract with 18 large international banks, with BNP Paribas and Taipei Fubon Commercial Bank serving as lead arrangers. This contract provided VietinBank with financial resources to serve the production and business needs of enterprises (DNs).
Regarding TTQT, in 2016 VietinBank signed border payment contracts with 4 branches of large banks in China. VietinBank's border payment activity has been efficiently supporting import and export enterprises via border gates of Vietnam and China. Bank payment helps enterprises make payments to their partners more quickly and safely than cash transactions, and at the same time avoid exchange rate risks and unusual fluctuations in the market. This service helped increase international trade through border gates, giving enterprises more payment options.
2016 was also a successful year for VietinBank in organizing business connection programs. Over the past year, VietinBank has coordinated with BTMU to organize business connection programs in Vietnam and Japan. This created opportunities for enterprises that are VietinBank's customers to meet and discuss direct business cooperation with Japanese enterprises that are BTMU's customers. Through this activity, VietinBank became the first and only bank in Vietnam to coordinate with Japan's largest bank to organize a regional business connection program. This demonstrates the efforts of VietinBank and BTMU to promote investment cooperation between Vietnam and Japan.
A wealth of achievements
Another highlight of international cooperation activities is that VietinBank's network of correspondent banks continues to grow strongly. In 2016, VietinBank connected with 20 more banks and bank branches around the world, bringing the VietinBank correspondent bank network to more than 1,000 banks in over 120 countries and territories. In particular, VietinBank always establishes primary correspondent relations with leading banks in each country and territory. Along with expanding the network, international cooperation activities have achieved success in supporting small joint-stock commercial banks in the country to accelerate the restructuring of the credit organization system. Accordingly, from the cooperative relationship with leading banks around the world, VietinBank has connected and participated in co-financing international projects for large corporations and corporations in Vietnam.
In particular, in October 2016, a VietinBank working group had a direct meeting with large investment funds in the US market. The meetings created an opportunity for VietinBank to access and connect more deeply with the global investment community, creating a favorable premise for VietinBank's future capital mobilization rounds. This program received the attention and high appreciation of investors in the US market. Accordingly, some investors have planned to survey the Vietnamese market in the near future and coordinate with VietinBank to find opportunities to invest in new corporate bonds. These are positive signals, noting the encouraging efforts of VietinBank in connecting with international investors to enhance the reputation and image of Vietnam in general, and VietinBank in particular, in the global market.
With the overall results obtained from this activity, VietinBank's position in the global market has once again been affirmed. In August 2016, Standard & Poor's credit rating agency announced its VietinBank rating report. Accordingly, VietinBank was rated as a BB- bank, equal to Vietnam's credit ceiling and the highest of Vietnamese banks rated by Standard & Poor's. Similar to the assessment of Standard & Poor's, VietinBank's safe and effective business operations have also led Fitch to upgrade VietinBank's rating to B+ with a stable outlook.
In 2016, VietinBank successfully performed international cooperation activities. These not only helped VietinBank raise capital for business development but also boosted VietinBank's brand among investors and large financial institutions around the world.
Active and proactive
In Vietnam, VietinBank is the first bank (NH) to centrally process all international payment transactions (TTQT) and trade finance (TTTM) in accordance with international standards. This activity has provided customers (KH) with very high-quality, diverse, modern and convenient products and services related to TTQT and TTTM.
Along with this activity, VietinBank actively seeks and expands cooperation with international banks, thus finding the best solutions for customers. Accordingly, VietinBank has pioneered the successful implementation of foreign currency mobilization transaction structures in the international market as well as many successful large-scale programs and transactions with leading financial institutions in the world. In March 2016, VietinBank signed a USD200 million syndicated loan contract with 18 large international banks, with BNP Paribas and Taipei Fubon Commercial Bank serving as lead arrangers. This contract provided VietinBank with financial resources to serve the production and business needs of enterprises (DNs).
Regarding TTQT, in 2016 VietinBank signed border payment contracts with 4 branches of large banks in China. VietinBank's border payment activity has been efficiently supporting import and export enterprises via border gates of Vietnam and China. Bank payment helps enterprises make payments to their partners more quickly and safely than cash transactions, and at the same time avoid exchange rate risks and unusual fluctuations in the market. This service helped increase international trade through border gates, giving enterprises more payment options.
2016 was also a successful year for VietinBank in organizing business connection programs. Over the past year, VietinBank has coordinated with BTMU to organize business connection programs in Vietnam and Japan. This created opportunities for enterprises that are VietinBank's customers to meet and discuss direct business cooperation with Japanese enterprises that are BTMU's customers. Through this activity, VietinBank became the first and only bank in Vietnam to coordinate with Japan's largest bank to organize a regional business connection program. This demonstrates the efforts of VietinBank and BTMU to promote investment cooperation between Vietnam and Japan.
A wealth of achievements
Another highlight of international cooperation activities is that VietinBank's network of correspondent banks continues to grow strongly. In 2016, VietinBank connected with 20 more banks and bank branches around the world, bringing the VietinBank correspondent bank network to more than 1,000 banks in over 120 countries and territories. In particular, VietinBank always establishes primary correspondent relations with leading banks in each country and territory. Along with expanding the network, international cooperation activities have achieved success in supporting small joint-stock commercial banks in the country to accelerate the restructuring of the credit organization system. Accordingly, from the cooperative relationship with leading banks around the world, VietinBank has connected and participated in co-financing international projects for large corporations and corporations in Vietnam.
In particular, in October 2016, a VietinBank working group had a direct meeting with large investment funds in the US market. The meetings created an opportunity for VietinBank to access and connect more deeply with the global investment community, creating a favorable premise for VietinBank's future capital mobilization rounds. This program received the attention and high appreciation of investors in the US market. Accordingly, some investors have planned to survey the Vietnamese market in the near future and coordinate with VietinBank to find opportunities to invest in new corporate bonds. These are positive signals, noting the encouraging efforts of VietinBank in connecting with international investors to enhance the reputation and image of Vietnam in general, and VietinBank in particular, in the global market.
With the overall results obtained from this activity, VietinBank's position in the global market has once again been affirmed. In August 2016, Standard & Poor's credit rating agency announced its VietinBank rating report. Accordingly, VietinBank was rated as a BB- bank, equal to Vietnam's credit ceiling and the highest of Vietnamese banks rated by Standard & Poor's. Similar to the assessment of Standard & Poor's, VietinBank's safe and effective business operations have also led Fitch to upgrade VietinBank's rating to B+ with a stable outlook.