An HDBank transaction office in HCM City. (Photo: courtesy of HDBank) HCM City (VNS/VNA) - HDBank is offering confirmation for letters of credit issued byforeign banks within the framework of the Asian Development Bank (ADB)’s TradeFinance Programme, becoming one of the few banks in Vietnam to provide theservice through the ADB programme.
It will bringadded value to customers at its more than 300 transaction offices and reaffirmits reputation in the domestic and foreign markets.
HDBank joinedADB's Trade Finance Programme in 2016 as an L/C issuer, and in the four yearssince, its credit limit has increased three fold.
With a new andimportant role in global trade finance, HDBank provides export customers with apayment guarantee solution as against a normal L/C, thereby minimising theirrisks in international trade at reasonable cost.
This is alsoan opportunity for corporate customers across the country to borrow fromHDBank, and it is the best support for global trade activities.
In addition toADB's reputation, HDBank’s strong financial capacity ensures safety forinternational trading activities, providing peace of mind to the partiesinvolved.
Over its threedecades of development, HDBank has established extensive relationships withmore than 400 banking institutions and strategic partners such as ICBC, JPMorgan Chase, ADB, KFW, Proparco, Commerzbank, ANZ, and MUFG.
HDBank is alsoa pioneer in bringing effective added value to customers around the globe byinvesting in and using modern technologies in its services and products,especially international payment services, digitising processes, meetingmanagement requirements of international standards, and constantly improvingoperational efficiency with a commitment to bringing the maximum benefit tocustomers.
It haspreviously issued L/C on the blockchain technology platform, which created anew breakthrough on its journey of becoming a ‘Happy Digital Bank’.
It offerscustomers the most modern blockchain L/C today, with high security and rapidprocessing, which saves time and minimises paperwork and errors, and allows theparties involved to update their implementation status.
The bank wasalso the first in Vietnam to join the TradeAssets Trade Finance E-marketplaceand connect with and process trade finance transactions on the blockchainapplication platform, and a pioneer in providing international money transferquery services via Swift GPI in major currencies.
It hassuccessfully put into operation the Treasury - FIS Front Arena system toseamlessly meet the requirements of handling business transactions and managingcurrency trading risks./.
VNA
