HDBank is offering confirmation for letters of credit issued by foreign banks within the framework of the Asian Development Bank (ADB)’s Trade Finance Programme, becoming one of the few banks in Vietnam to provide the service through the ADB programme.

An HDBank transaction office in HCM City. (Photo: courtesy of HDBank)

It will bring added value to customers at its more than 300 transaction offices and reaffirm its reputation in the domestic and foreign markets.

HDBank joined ADB's Trade Finance Programme in 2016 as an L/C issuer, and in the four years since, its credit limit has increased three fold.

With a new and important role in global trade finance, HDBank provides export customers with a payment guarantee solution as against a normal L/C, thereby minimising their risks in international trade at reasonable cost.

This is also an opportunity for corporate customers across the country to borrow from HDBank, and it is the best support for global trade activities.

In addition to ADB's reputation, HDBank’s strong financial capacity ensures safety for international trading activities, providing peace of mind to the parties involved.

Over its three decades of development, HDBank has established extensive relationships with more than 400 banking institutions and strategic partners such as ICBC, JP Morgan Chase, ADB, KFW, Proparco, Commerzbank, ANZ, and MUFG.

HDBank is also a pioneer in bringing effective added value to customers around the globe by investing in and using modern technologies in its services and products, especially international payment services, digitising processes, meeting management requirements of international standards, and constantly improving operational efficiency with a commitment to bringing the maximum benefit to customers.

It has previously issued L/C on the blockchain technology platform, which created a new breakthrough on its journey of becoming a ‘Happy Digital Bank’.

It offers customers the most modern blockchain L/C today, with high security and rapid processing, which saves time and minimises paperwork and errors, and allows the parties involved to update their implementation status.

The bank was also the first in Vietnam to join the TradeAssets Trade Finance E-marketplace and connect with and process trade finance transactions on the blockchain application platform, and a pioneer in providing international money transfer query services via Swift GPI in major currencies.

It has successfully put into operation the Treasury - FIS Front Arena system to seamlessly meet the requirements of handling business transactions and managing currency trading risks.