News 8/09/2022 03:36

VietinBank receives 2 awards given by JPMorgan

On August 3, 2022 in Hanoi, VietinBank held a ceremony to receive 2 awards: 2021 Elite Quality Recognition Award for U.S. dollar clearing MT202 and for U.S. dollar clearing MT103.

Attending the the ceremony, from JPMorgan, there were Ms. Hong Wai Wei - Managing Director, Head of Corporate Banking, ASEAN; Ms. Phan Bich Van - Managing Director, Senior Country Officer, JPM Vietnam; Ms. Hooi Ching Wong - Managing Director, Head of FIG Sales, ASEAN cum CEO, JPMorgan Malaysia; Ms. Dang Quynh Hoa - Executive Director, Financial Institutions Group Vietnam.

On VietinBank's sidewere present Mr. Hoang Ngoc Phuong - Deputy General Director; Mr. Truong Minh Hoang - Acting Director of Operations Division, Representatives of Trade Finance Center, Payment Center, Department of Financial Institutions...

These two awards were presented to VietinBank by JPMorgan - one of the world's largest US banks providing US Dollars (USD) clearing services for.

VietinBank receives 2 awards given by JPMorgan

These awards honor the banks whose straight through payment (STP) rates of trade finance and international payment transactions processing exceed  90%; which, at the same time, is also the international criterion for assessing the quality of trade finance and international payment services provided by banks.

VietinBank has been honored with 2 awards by JPMorgan, including: Elite Quality Recognition Award for U.S. dollar clearing MT103 with STP rate of 99.72% and Elite Quality Recognition Award for U.S. dollar clearing MT202 with STP rate of 99.83%.

Speaking at the ceremony, the representative of JPMorgan stated: “These are extremely impressive achievements, not only for a Vietnamese bank but also for the international level; especially in the context of the year 2021 when the world was in the face of chaos caused by the COVID-19 pandemic, VietinBank still managed to maintain operation excellence, effectively providing customers with high quality services. “JPMorgan representative assessed that VietinBank's maintenance of outstanding MT103 and MT202 STP rates for many consecutive years has proved VietinBank’s leading position in operation in the market.

VietinBank’s operation excellence in trade finance and international payment has been highly recognized and awarded by JPMorgan

Up to 2022, VietinBank and JPMorgan have had more than 25 years of cooperation on many areas, especially in trade finance and international payment. In order to cooperate with VietinBank in a variety of trade finance products, JPMorgan is among the banks that continuously grant the largest trade limits to VietinBank. At the same time, JPMorgan and VietinBank have implemented tremendous cooperation on trade finance and international payment, provided experience sharing on professional knowledge and trends of regional and global markets. At the meeting, the two parties also discussed topics of interest such as digitization, cyber-security, and opportunities for continued cooperation to support VietinBank’s clients.

Over the past years, VietinBank has been awarded a lot of awards for trade finance and international payment by prestigious regional and international organizations such as: The Asian Banker, Global Finance (USA), International Finance Corporation (IFC), Wells Fargo (USA), Deutsche Bank AG (Germany)…

Xuan Nguyen