The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has received the “Best GTFP-Issuing Bank in Asia 2012” award of the International Financial Corporation (IFC)’s Global Trade Finance Programme (GTFP).

Techcombank was the only Vietnamese bank nominated by IFC for the award, which honoured contributions made by banks to activities of trade finance and supply chain of IFC.

Simon Morris, Chief Executive Officer of Techcombank said the bank’s participation in the programme aims to further strengthen its resources and capacity, towards increasing support to trade finance activities of customers, which are enterprises.

GTFP is now seeing the participation of more than 250 banks across the world, including ten Vietnamese banks.

Techcombank was given the titles “Vietnam’s Best Bank in 2011”, “Best Cash Management Bank in Vietnam in 2011” and “Best Trade Finance Bank in Vietnam in 2011”, “Elite Quality Recognition Award for Outstanding Achievement in 2012” and became the first Vietnamese bank to receive the three international awards of FinanceAsia.

A member of the World Bank Group, IFC fosters sustainable economic growth in developing countries by supporting private sector development, mobilising private capital, and providing advisory and risk mitigation services to businesses and governments.-VNA