Vietnam International Bank was recognised as the leading small and medium-sized enterprises (SMEs) trade bank in 2019 by Asian Development Bank (ADB) during an award ceremony in Singapore last week.
The award was given based on the number of transactions the bank carried out to facilitate and sponsor trade for SMEs under the ADB’s Trade Finance Programme. This is also the third consecutive year that VIB has won this award by ADB.
Between July 1, 2018 and June 30, 2019, VIB assisted more than 80 businesses through trade finance transactions worth more than US$177 million in total. It is the only bank in Viet Nam to win this award in 2019.
VIB joined the ADB’s Trade Finance Programme in 2009, in order to provide financial assistance to SMEs in importing and exporting sectors, and boost their productivity and competitiveness on the market.
Backed by ADB’s AAA credit rating, the programme provides guarantees and loans to more than 200 partner banks to support trade, enabling more companies throughout Asia and the Pacific to engage in import and export activities.
Since 2009, the programme has supported more than 15,000 SMEs across developing Asia – through 21,000 transactions valued at $36 billion – in sectors ranging from commodities and capital goods, to medical supplies and consumer goods.
Last year, it supported $6.2 billion in trade through 4,470 transactions. — VNS