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ABBank, TPBank join ADB trade finance programme

ABBANK on May 24 officially signed an agreement with ADB on joining the Trade Finance Programme – one of prominent programmes enabling Vietnamese enterprises to increase competitiveness and get more opportunities to promote economy.
ABBank, TPBank join ADB trade finance programme ảnh 1Representatives from TPBank and ADB at the signing ceremony (Source: VNA) 
HCM City (VNA) - An Binh Joint-Stock Bank(ABBANK) on May 24 officially signed an agreement with the Asian DevelopmentBank’s (ADB) on joining the Trade Finance Programme (TFP) – one of prominentprogrammes enabling Vietnamese enterprises to increase competitiveness and getmore opportunities to promote economy.

Under the agreement, ABBANK will promote theimplementation of regulations on safe management and operation, towardsconstantly improving the quality of services and helping enterprises easily accessinternational market.

Becoming a member of the TFP, ABBANK will serve as aneffective bridge, bringing opportunities to Vietnamese firms to expand linkswith other 200 member banks of the TFP worldwide.

“Our Trade Finance Programme aims to help Vietnam and Vietnamesebusinesses expand trade opportunities, increase competitiveness, and promotetrade-led inclusive growth,” said Steven Beck, ADB’s Head of Trade Finance.

According to Cu Anh Tuan, Chief Executive Officer ofABBANK, the signing with the TFP marks the start of a positive development andclose relationship between ADB and ABBANK in developing banking services of theVietnamese bank.

Cooperating with the TFP will not only bring higherbusiness efficiency, but also create an opportunity for our bank to affirm itsbrand in the banking and financial market, he stressed, hoping that ADB’scontinued trust and support  will furtherpromote trade development between Vietnam and other countries.

The same day, Tien Phong Commercial Joint-Stock Bank (TPBank) signed a similaragreement with ADB.

Accordingto Nguyen Hung, ChiefExecutive Officer of TPBank, ADB's extensive networkof banks and other financial institutions will provide great opportunities forTPBank to expand its global partnerships.

Hesaid that the guarantee limit from ADB shall be used to support Vietnamesesmall and medium-sized enterprises to optimize their businesses so they cancontribute to Vietnam’s economic growth.

ABBANK is one of theleading commercial joint-stock banks and is among the top ten largestcommercial banks in terms of charter capital in Vietnam.  Its current charter capital exceeds 5,319billion VND (about 234 million USD) and it has an extensive network of 164transaction offices located in 34 provinces nationwide.

Meanwhile, TPBank is one ofthe most dynamic commercial banks in Vietnam with total assets of around 106,000billion VND (4.6 billionUSD), about 4,000 employees, and an extensive network of 55 branches andtransaction offices across Vietnam. Currently, with more than 1.5 millionindividual customers and businesses, TPBank has been asserting its position asa strong, sustainable and healthy bank in the country.

To date, TFP has supported 8.2billion USD in trade through 5,814 transactions covering both guarantees anddirect funding in Vietnam. Out of TFP’s total transactions in Vietnam, 67 percentare related to small and medium-sized enterprises. TFP is currently workingwith 11 commercial banks in Vietnam and, with the signing of agreements withABBANK and TPBank, this will increase to 13 commercial banks.-VNA
VNA
#ABBANK #ADB #Trade Finance Programme #international market. #TPBank #TPF #banking services #global partnership #small and medium-sized enterprises #economic growth
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