VOV.VN - The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has been selected as this year’s best bank in Vietnam, according to Alpha Southeast Asia (Alpha SEA) magazine in an awards ceremony which recently took place in Singapore.

Vietcombank representative receives award by Alpha SEA magazine 

Of the awards given by Alpha SEA magazine, Vietcombank was the only Vietnamese institution to claim a prize.

The annual award is presented in recognition of outstanding financial institutions in the Southeast Asian region. When assessing the contenders for the prize, efficiency and development are the two leading criteria in which candidates must score highly on.

For the 2019 awards the magazine received 218 entrants from six countries worldwide, with 13 entrants among them being from Vietnamese financial institutions. 

According to Alpha SEA magazine, Vietcombank affirmed its position as one of the nation’s leading banks. The financial institution regularly enjoys outstanding figures in terms of its Return On Equity (ROE), its capital adequacy ratio (CAR), and net interest margins (NIM).

On the back of this success, Vietcombank is now aiming to become one of the region’s top 100 financial institutions and to reach the world’s top 300 by 2020.

Alpha SEA magazine specialises in content about investment and finance in the Southeast Asian region. With six publications each year, the magazine provides information for investors throughout Europe, America, and the Asia-Pacific region about the state of the Southeast Asian financial market.