Vice General Director of Vietcombank Nguyen Thi Kim Oanh (second, right) at the awarding ceremony (Source: tienphong.vn) Hanoi (VNA) - The Joint StockCommercial Bank for Foreign Trade of Vietnam (Vietcombank) has been namedthe best bank of Vietnam in 2019 by Euromoney.
This is the fifth consecutive yearthe bank has received this award from the Hong Kong-based magazine.
The "best bank" prize is one of over 20international awards in the “Awards for Excellence” - the most prestigious bankingand finance award system in the world selected by Euromoney.
The “Awards for Excellence” aims to honour thebank for its sustainable development capacity, business performance, riskmanagement, application of information technology, management quality, andcontributions to the domestic finance market.
Vietcombank was selected based on criteria such as total revenue and asset,pre-tax profit, net income.
Vietcombank recently has become one of the 30 strongest banks in theAsia-Pacific region in the recent rankings of The Asian Banker magazine.
Its total asset was estimated at over 1quadrillion VND (43.1 billion USD) by the end of 2018. Its profit last yearapproximated 18.4 trillion VND, up 63.5 percent from 2017, taking the leadamong Vietnamese banks.
The bank was also the first major bank ofVietnam to have brought the rate of non-performing loans to below 1 percent twoyears ahead of schedule.
Vietcombank aims to become the No. 1 bank inVietnam, one of the 100 strongest banks in the region, and one of the 300largest financial-banking groups in the world by 2020.-VNA
VNA
