Saigon – Hanoi Commercial Joint Stock Bank (SHB) has been honored by Alpha Southeast Asia (AlphaSea) Magazine as “the best trade finance bank in Vietnam in 2019”. Previously, SHB was presented with this award for many years in a row.
SHB’s trade finance value in 2018 has grown impressively with an increase of 8% over the previous year, reaching 3.61 billion USD. SHB is currently among the largest private joint stock banks in terms of international payment and trade finance revenue. In addition, SHB is one of the leading banks in Vietnam with the largest LC UPAS revenue.
In September 2018, SHB signed a framework credit contract with the International Bank for Economic Cooperation (IBEC). Immediately after the signing ceremony, SHB implemented a financing package exclusively for businesses with import and export activities to/from IBEC member countries (Russia, Bulgaria, Mongolia, Poland, Romania, Slovakia, Czech and other members) with financing rates up to 90% of capital needs. This is the first step to concretize the commitment of SHB in accompanying businesses, opening up development opportunities, promoting bilateral cooperation between Eastern European countries and Vietnam.
With trade finance revenue of more than 3 billion USD/year, SHB has been affirming its strong position among the leading trade finance banks in Vietnam. With nearly 500 correspondent banks worldwide, SHB has a great advantage in providing payment services to customers in different regions of the world. SHB’s reputation has been enhanced globally through good partnerships with major partners such as Well Fargo NA, Bank of New York Mellon, Uni Credit, CommerzBank, Sumitomo Banking Corporation, MUFG, Mizuho Corporate Bank, ICBC, IIB, IBEC … Besides, a large network of more than 500 transaction points in Vietnam, Laos and Cambodia also plays an important role in serving customers in a timely and convenient manner.
In addition to traditional trade finance products such as import LC, export LC, import collection, export collection, SHB also provides customers with other products such as Export Document Discount, Factoring and Hedging. With credit line granted by domestic and foreign banks as well as credit line granted by the Asia Development Bank (ADB) in the Global Trade Finance Program (revolving credit and trade finance credit line), SHB can arrange LC financing for a large number of customers. Besides, the bank has always focused on improving service quality, especially focusing on simplifying procedures and constantly improving technology. In 2017, SHB became an official member of the International Maritime Bureau ICC (IMB), helping the bank verify information related to the shipment… The above factors helped SHB achieve great success in trade finance as well as establish a solid basis for further development in the coming years.
With continuous efforts to provide customers with fast, diversified, transparent and effective financial solutions, in the past years, SHB has been continuously presented with many prestigious awards with high evaluation from international prestigious organizations in trade finance. Previously, AlphaSea Magazine honored SHB as the best trade finance bank in Vietnam in 2018. Previously, Asian Banking and Finance Magazine presented the “Best Trade Finance Bank” award to SHB for many years.
Mr. Nguyen Van Le, CEO of SHB said: “SHB is currently in the Top of the largest private joint stock banks in terms of international payment and trade finance revenue. In the coming time, SHB will continue to promote its strengths in international trade finance and international payment through the development of cooperation markets. In addition to traditional markets, SHB will also increase access and expand the supply of international payment and trade finance products and services to new markets to meet customers’ needs and to enhance SHB’s competitiveness”.
Mr. Nguyen Van Le added that the bank’s products have been reviewed and improved frequently by a professional team with deep understanding of customers based on their needs and feedbacks. Besides, by classifying customers into many segments, SHB can provide competitive and flexible price for each customer segment. Thanks to its diversified product portfolio and good customer service, SHB has attracted more and more businesses, especially from important import and export areas such as agriculture, seafood… and helped them boost international business activities. On the other hand, SHB will constantly improve service quality, increase customer satisfaction with international payment and trade finance services, implement advanced trade finance products and services such as Supply Chain Financing, BPO, develop products and services applying technology 4.0 in trade finance & international payment…