Tuesday, 25/09/2018 09:56 (GMT+7)
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has won the recognition of Alpha Southeast Asia (Alpha SEA) magazine as the best bank in Vietnam in 2017.
A representative from Vietcombank (fourth from the left) receiving the award from Alpha SEA
The award, held annually by the Hong Kong-based magazine, aims to honor the best financial institutions in Southeast Asia. It is selected based on criteria such as business strategy, management model with a view of offering its customers services that meet international standards, growth, profitability, high-quality products and services, and network development with the increasing number of customers.
This is the second consecutive year the bank has received this award from Alpha SEA.
Vietcombank is hailed for its effective business strategy; management model, professional operation with the focus on serving customers in accordance with international standards; good adaptation with market fluctuations and customer needs; and sustainable growth rate.
In 2017, it made a strong impression by becoming the first bank in Vietnam to report pre-tax profit of VND11.341 trillion (about USD486.9 million), while its bad debts fell to only 1.1%, the lowest rate among major credit institutions.
Alpha Southeast Asia was established in 2007 and for almost twelve years now, is the first and only institutional investment magazine focused on Southeast Asia (Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam).
Across six issues published every year, it produces articles on Southeast Asia for Europe and US-based investors, and investors based across the Asia Pacific and Southeast Asia./.
BTA