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VietNamNews

Global interbank payments up 13%

Update: August, 21/2012 - 10:32

HA NOI — International payments from Viet Nam via SWIFT had increased by 13 per cent a year, it was announced yesterday during the annual seminar on the Society for World-wide Interbank Financial Telecommunication.

The seminar aimed to provide latest information about SWIFT's performance and discuss the upcoming Singapore Inter-Bank Offered Rate 2012 - (Sibos 2012) conference and exhibition to be held in Osaka, Japan.

Speaking at the seminar, Pham Bao Lam, director of the transaction department of the State Bank of Viet Nam, who is also chairman of VIETSWIFT, said SWIFT Viet Nam was established in 1996 after six local banks became members of SWIFT in March 1995. They included the State Bank of Viet Nam, Vietcombank, BIDV, Agribank, Vietinbank and Eximbank.

The State Bank of Viet Nam and about 80 commercial banks had since joined in SWIFT Viet Nam with 88 SWIFT codes.

Of this figure, 44 were SWIFT codes of joint stock banks and 43 others from foreign banks and overseas branches.

According to statistics from SWIFT, Viet Nam ranked 63 out of 212 countries in the volume of money transfer messages a day, posting a growth rate of nearly 13 per cent per year. — VNS

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