The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has been named 2020 Best Solutions Provider for Small and Medium-sized Enterprises (SMEs) by prestigious magazine The Asian Banker.

The magazine said the bank has solidified its position as a one-stop solutions provider for SMEs in Vietnam with a value chain-focused strategy and business model.

Head of Research and Survey at The Asian Banker, Mobasher Kazmi, said leading experts have been impressed by the bank’s deep customer insight in addressing the evolving needs of SMEs, which led to its strong income and profit growth in 2019.

The bank has targeted the six consumption-led economic sectors that contribute almost half of Vietnam’s GDP.

Vishal Shah, Head of Techcombank’s Business Banking Division, said that within its growing footprint of more than 300 branches nationwide, Techcombank has enabled a dedicated business unit focused on SMEs and mid-corporate businesses through 43 dedicated branches. 

He added that the bank continues to upgrade its Fast E-Bank online banking platform to improve customers’ experience in terms of speed, convenience, efficiency, and security.

It also introduced Overseas Remittance-embedded Foreign Currency Exchange with enhanced functionalities to support internal customer control and risk management.

The bank also launched a preferential loan package of VND20 trillion (US$869 million) to businesses affected by COVID-19.