The Technological and Commercial Joint-Stock Bank (Techcombank) has been the only bank in Vietnam winning two awards from the Asian Banker magazine at the same time.

“The leading Counterparty Bank in Vietnam” and “the Best Trade Finance Bank in Vietna ” awards were given to Techcombank in recognition of its 2013 excellent business performance, especially the renovation of trade finance services, said the magazine in its notice sent to the bank.

This is the second consecutive year Techcombank has been voted as the best trade finance bank in Vietnam by the Asian Banker.

According to the magazine, Techcombank’s trade finance lending has increased by 125 percent and revenues from this activity have regularly enjoyed a two-digit growth.

The bank has also expanded cooperation with the International Financial Corporation (IFC), becoming the most active member and the largest customer of IFC in the Global Trade Finance Programme (GTFP).

Techcombank has been the first Vietnamese bank providing an international payment service for customers who conduct trade transactions overseas, known as a deferred payment credit.

It has also developed a network of 12,000 subsidiary banks and branches in 140 countries and territories worldwide.

The two new awards once again affirmed the prestige and quality of the bank’s products and services, particularly trade finance service.

Since the beginning of this year, Techcombank has received 15 awards from prestigious international newspapers and organisations, including four awards for its trade finance service from the Corporate Treasurer, the Global Finance, and the Asian Baking & Finance Review.

By March 31, 2014, Techcombank posted a total asset of over 164 trillion VND (7.8 billion USD) and a charter capital of 8.8 trillion VND (420 million USD).

With a staff of 7,000 people, the bank boasts a nationwide network of more than 300 branches and transaction sites and nearly 1,300 ATMs connected with more than 12,000 ATMs in the BankNet and Smartlink systems.

Currently, more than 3.3 million individuals and over 45,000 businesses are using Techcombank services.-VNA