The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has been honoured by the Global Finance magazine of the United States as the Best Trade Finance Provider in Vietnam for 2020.

The award marks the third consecutive year VietinBank has been named the only Vietnamese bank to be honoured by the publication.

A ceremony to announce the winner of the award was held as part of the Europe Bank to Bank Forum which was organised by the Bankers Association for Finance and Trade in Frankfurt, Germany, on January 15.

In attendance at the forum were over 300 major banks, and 130 financial service providers from 95 countries globally.

Last year VietinBank became the first domestic bank to develop an Internet Banking Trade Finance Portal suitable for use by corporate customers which allows them to both send and receive documents, in addition to viewing transactions online.

The portal benefits customers in terms of saving time and cost due to the ability to perform transactions anywhere and at any time.

Recent years have seen VietinBank rack up a number of prestigious awards, winning The Best Trade Finance Bank award of The Asian Banker in 2017, 2018, and 2019. Moreover, the bank also received awards from a number of reputable magazines and banks globally, including the International Finance Corporation.

Global Finance, a US-based magazine is a world leader on reporting on the world of finance and has a history of 30 years with a global readership of 50,000. Some of the publication’s readers of Global Finance include Chairmen of various Board of Directors, CEOs, CFOs, economists, and financial analysts from 191 countries.

The awards held by Global Finance are highly valued and lauded by the global financial community, with the results being based on a rigorous and transparent evaluation conducted by leading experts in the banking-financial institution society.