Techcombank has been named the Best Payments Bank in Vietnam in 2019 by the Asian Banker. (Photo: Techcombank)Hanoi (VNA) – The Vietnam Technological and Commercial JSC (Techcombank) has been namedthe Best Payments Bank in Vietnam in 2019 by the Asian Banker thanks to its useof high technology in providing payment solutions to customers.
Thestate-owned bank was honoured in a ceremony in Hanoi on July 18.
Speaking atthe award event, Nguyen Huong Giang, head of Techcombank’s Transaction Banking, said in bankingtransactions, businesses usually focus on negotiating for low interest rates orreduced per-transaction fees while very little attention is paid to solutionsto reduce costs from risks related to foreign exchange, trading fraud andliquidity.
In fact,effective cash flow management and on-time payment help the businesses optimizetheir capital, minimise unnecessary loans and hereby, significantly reducecapital cost, she noted.
ManagingEditor of the Asian Banker Foo Boon Ping said he is impressed by the fact thatTechcombank is the pioneering and only bank in Vietnam providing fee-freetransactions to both individual and business customers with no condition.
The move notonly goes in line with the Government’scashless payment policy but also provides a long-term and optimal financialsolution to the businesses.
The bank alsooffers a variety of payment channels to increase the convenience for itsclients.
Last year,Techcombank posted a pre-tax profit of more than 10.66 trillion VND(458.38 million USD), up 31 percent year-on-year. The bank came second in the domestic banking system in profit, only after Vietcombank.
Its total operating income represented a 10 percentyear-on-year increase to more than 16.97 trillion VND, credit rose 20 percent, andbad debts fell to 1.8 percent.
The bank aimsto earn more than 11.7 trillion VND in pre-tax profit in 2019, representing a 10 percent year-on-yearincrease.–VNA
VNA
