VietinBank becomes the best SME Bank in Vietnam for the 4th consecutive time

Conquering the judges with its excellent product quality, service and operational efficiency, VietinBank was honored by this prestigious international magazine as the Best SME Bank in Vietnam for the fourth consecutive time.

VietinBank has become the best SME Bank in Vietnam for the fourth consecutive time. (Photo: Vietnam+)

Within the framework of The Asian Banker Vietnam Awards 2024 held in Hanoi on July 18, 2024, Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) was honored to receive the award for Best SME Bank in Vietnam. Conquering The Asian Banker's Jury with its excellent product quality, services and operational efficiency, VietinBank was honored by this prestigious international magazine as the Best SME Bank in Vietnam for the fourth consecutive time. 2023 is considered a year of fluctuations with many challenges facing businesses, but VietinBank continues to affirm its position, product quality and services with the ranking of Best SME Bank in Vietnam 2024 from The Asian Banker. “The core of the bank’s success lies in its effective credit operations, low-cost lending to businesses and diverse products and services, built as solutions that have supported small and medium-sized enterprises in a challenging market period,” The Asian Banker said in a press release announcing the award. For example, VietinBank has launched the SME SIMPLE credit solution with a streamlined process flow, a minimalist profile list, ensuring the fastest possible transaction processing speed for customers, helping businesses easily access capital to serve business operations. Not only that, with the aim of constantly improving service quality as well as customer experience, VietinBank has made remarkable progress in the digital transformation journey. Recently, the bank deployed online disbursement and guarantee issuance right on the digital banking platform for businesses VietinBank eFAST, supporting businesses to disburse and issue guarantees quickly without having to move or store documents. The Asian Banker also highly appreciated VietinBank's ESG activities, thereby supporting the sustainable business operations of businesses. At the end of 2023, VietinBank launched the Green UP green finance package exclusively for sustainable development enterprises as well as projects that benefit society with many incentives on interest rates and fees. In addition, to show gratitude to customers and accompany small and medium enterprises to increase business efficiency, VietinBank has implemented a variety of incentive programs for new products and services for small and medium enterprises such as: Golden Day for international payments - incentives to reduce up to 100% of foreign currency transfer fees until April 2025.

Director of Small and Medium Enterprise Customer Department Le Thanh Phuong represented VietinBank to receive the award. (Photo: Vietnam+)

In addition, small and medium-sized customers who issue new guarantees that meet the conditions of the "Prosperous Guarantee, Prosperous Business" promotion program will have the opportunity to receive prizes with a total value of up to 75 million VND along with other attractive incentives. "These efforts have brought VietinBank strong growth in the SME customer segment, continuing to affirm the bank's leading position in this segment," The Asian Banker commented. 2024 will be a pivotal year for the restoration of production and business activities of enterprises. VietinBank is committed to continuing to promote professional service quality, develop optimal products and solutions to accompany the small and medium-sized enterprise community to steadily move towards success. Recently, in response to the increased import and export demand of enterprises at the end of the year, VietinBank launched the SME Trade UP program with attractive fee reduction incentives for essential products that import and export enterprises often use. Specifically, participating in the SME Trade UP program, small and medium enterprises will receive a reduction of up to 45% in letter of credit issuance fees and up to 65% in cargo insurance fees (including domestic and imported). The program will be implemented from July 2024 to the end of June 2025. In particular, corporate customers transacting for the first time at VietinBank will also be exempted from 100% of many types of fees such as: Foreign currency transfer within the system, signing of bills of lading/issuing authorization to receive goods, issuing of goods receipt guarantees, sending for collection, canceling, amending, adjusting collection, managing collection documents, letter of credit notification, amendment notification, Trade Portal service... Up to 50% reduction in foreign currency transfer outside the system, other fees of commercial arbitration services - import/export services.

Vietnam+

Source: https://www.vietnamplus.vn/vietinbank-lan-thu-4-lien-tiep-tro-thanh-ngan-hang-sme-tot-nhat-viet-nam-post965679.vnp