Active, positive

In Vietnam, VietinBank is the first bank (BK) performing concentrated settlement of all international payment (IP) and trade finance (TF) under international standards. This activity has given customers (KH) IP and TF products and services (SPDV) of high quality, diversity, modernity and superior convenience.

Alongside this activity, VietinBank has actively exploited and expanded cooperative relationships with international BKS, thereby having the best solutions for customers. Accordingly, VietinBank pioneers in the successful implementation of foreign currency mobilization transaction structures in the international market, carrying out many successful programs and major transactions with leading financial institutions in the world. In March 2016, VietinBank signed a syndicated loan contract worth USD 200 million with 18 large international BKS led by BNP Paribas and Taipei Fubon Commercial Bank as the lead arrangers. This contract provides VietinBank with financial resources to serve the production and business needs of enterprises (DN).

In terms of IP, in 2016 VietinBank signed a cross-border payment contract with 4 branches of major BKS in China. VietinBank's cross-border payment activities have been powerfully supporting import and export DN through Vietnam - China border gates. Payment through banks helps DN pay for their partners faster and safer than cash transactions, while avoiding exchange rate risks and unusual market fluctuations. This utility has contributed to increasing cross-border import and export of goods, adding payment options for DN.

2016 also marked a successful year for VietinBank in organizing business networking programs. In the past year, VietinBank and BTMU have coordinated to organize business networking programs in Vietnam and Japan. This has created opportunities for VietinBank's corporate customers to meet and exchange direct business cooperation with BTMU's corporate customers in Japan. With this activity, VietinBank has become the first and only bank in Vietnam to cooperate with Japan's largest bank to organize a business networking program of regional scale. This demonstrates the efforts of VietinBank and BTMU in promoting the investment cooperation relationship between Vietnam and Japan.

Accumulation of achievements

Another mark in international cooperation activities is that VietinBank’s network of correspondent banks also continues to grow strongly. In 2016, VietinBank connected with 20 more banks and bank branches around the world, bringing VietinBank’s network of correspondent banks to over 1,000 banks in over 120 countries and territories. In particular, VietinBank always maintains the main correspondent relationship with leading banks in each country and territory. Along with expanding the scale of the network, international cooperation activities have achieved achievements in supporting small domestic JSBs in promoting the restructuring of the credit organization system. Accordingly, from the cooperative relationship with leading banks in the world, VietinBank has connected and participated in co-financing international-scale projects for corporations and large corporations in Vietnam.

In particular, in October 2016, VietinBank's working delegation had a direct working session with large investment funds in the US market. The working sessions opened up opportunities for VietinBank to reach out and engage more deeply with the global investment community, creating a favorable premise for VietinBank's future capital mobilization. This program has received the attention and high evaluation of investors in the US market. Accordingly, a number of investors have planned to survey the Vietnamese market in the near future and cooperate with VietinBank to seek new corporate bond investment opportunities. This is a positive signal, recognizing VietinBank's encouraging efforts in connecting international investors to enhance the reputation and image of Vietnam in general and VietinBank in particular in the world market.

With the overall results obtained from this activity, VietinBank's position has once again been affirmed in the world market. In August 2016, Standard & Poor's released its credit rating report for VietinBank. Accordingly, VietinBank is rated as a bank with BB- rating, equal to Vietnam's rating ceiling, the highest among Vietnamese banks rated by Standard & Poor's. In line with Standard & Poor's assessment, VietinBank's safe and effective business operations have also led Fitch to upgrade VietinBank's rating to B+, with a stable outlook.

Ngọc Quỳnh Nguyệt Anh

International Cooperation - VietinBank Brand Promotion