VPBank named as best issuing bank partner for women-owned businesses
The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) has named Best Issuing Bank Partner for Women-Owned Businesses in East Asian Pacific in 2017 by the International Finance Corporation (IFC).
VPBank has helped more than 40,000 women-owned enterprises to gain access to banking loans (Source: nhandan.org.vn)Hanoi (VNA) – The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) has named Best Issuing Bank Partner for Women-Owned Businesses in East Asian Pacific in 2017 by the International Finance Corporation (IFC).
The award is the recognition for its contribution to the IFC’s Global Trade Finance Programme (GTFP).
After nearly two years of participating and implementing the programme, VPBank has achieved impressive results in promoting import, export and local trade.
In 2017, VPBank saw remarkable achievements in transaction banking in 2017, including increased off-balance sheet balance, foreign exchange trading balance and fees income. The bank’s off-balance sheet balance rose 20 percent, with fees income from trade finance transactions up 13.8 percent year-on-year. Twenty supply chain financing programmes were implemented with year-on-year TOI growth of 31 percent.
In 2017, VPBank implemented an initiative to support women business owners with the sponsorship and cooperation of IFC.
Women-owned businesses account for 18 percent of the SME category and 85 percent of the household category, which brings some 85 percent of fees income from insurance and trade finance transactions.
As a leading bank in this segment, VPBank has supported more than 40,000 enterprises accessing banking capital, which helps businesswomen realise their potential and contribute to economic growth.-VNA
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