Saigon – Hanoi Commercial Joint Stock Bank (SHB) has recently become an official member of Factors Chain International (FCI), a reputable and long-standing organization with very few members from Vietnam.

Factoring is a financial package offering a wide range of businesses such as payment guarantee, debt tracking & collection and working capital financing. Among those, export factoring has become a growing trend in international trade worldwide. However, in Vietnam, the revenues of factoring in general and international factoring in particular still remain far below potential. Amid the increase in number of enterprises in recent years and continued growth of export-import, more access to international factoring not only helps enterprises enhance their competitiveness and attract foreign partners, but also boosts national economic development.

As an official member of FCI, SHB will offer a more comprehensive and professional export factoring service. On that basis, enterprises shall benefit from various advantages such as better utilization of current credit line, elimination of export payment risks, enhancement of competitiveness with D/A and T/T after shipment, time and cost saving in accounts receivable management and collection, thus increasing export revenues and boosting their reputation.

SHB has honorably received numerous awards in international payment and trade finance from prestigious international organizations such as STP (Straight-Through Processing) Award, Best Trade Finance Bank in Vietnam Award, etc. Becoming the official member of FCI, SHB shall continue its commitment as a Solid partner to offer the most Flexible solutions to customers. Customers will also be provided with updated information on global business and advice from leading experts in factoring, trade finance and banking & finance. Offering factoring service helps SHB provide more comprehensive, professional and reliable financial solutions for customers.