Vietnam International Bank (VIB) has just been awarded as the “Fastest Growing Bank Partner in East Asia and the Pacific” by IFC, a member of the World Bank Group. This is the sixth time for VIB to receive the IFC award under the Global Trade Finance Program (GTFP). 

Han Ngoc Vu - CEO of VIB received the award from the IFC representative.

In 2021, the total disbursement for VIB via IFC's guarantee in GTFP reached over US$242 million, up 17 per cent year-on-year.

With this impressive growth rate, VIB was recognised by IFC as the fastest growing bank in trade finance in East Asia and the Pacific. VIB was also recognised for its professionalism in trade finance with quick and accurate processing.

 “Access to finance has always been a big challenge for many businesses in emerging markets, while it is fundamental to the global trading system. That is why IFC started its Global Trade Finance Program in 2005 and expanded to other trade and commodity finance programs beginning in 2009," said Amy Luinstra, acting IFC country manager for Laos, Việt Nam and Cambodia.

"IFC highly appreciates VIB's rapid growth, creativity and professionalism in implementing this program over the years. We believe that the support from IFC and the operational capacity of banks like VIB will help Vietnamese import-export businesses overcome difficulties and grow again in the coming time.”

Joining GTFP in 2011, VIB currently connects with more than 6,300 banks and correspondent bank branches in 43 countries and territories. The bank has implemented effective financing activities for thousands of import-export businesses, especially in priority areas.

Han Ngoc Vu, VIB CEO, said: “With an initial credit limit of US$5 million in 2011, VIB's current limit in GTFP is now US$144 million – the largest limit among Vietnamese banks. With the limit from the program, we have strengthened our funding capacity, helping import-export businesses access financial resources and solve difficulties caused by the COVID-19 pandemic in the past two years.

"In 2022, the bank will continue to promote trade finance activities, and improve service capacity to better meet the needs of businesses based on the expectation that the economy will recover and strong growth again after the pandemic”.

In 2021, VIB was a bank with a strong breakthrough in business performance and is continuously honoured on rankings such as Việt Nam's Top 50 best-listed companies in 2021, Top 10 prestigious public companies in Việt Nam in 2021, Top 50 best-performing companies in Vietnam in 2021.

VIB was also continuously recognised with many prestigious international awards such as Best New Card Offering 2021-VIB Online Plus 2in1,  Most Innovative New Credit Card Service 2021, Innovation in Digital Banking in 2021 for MyVIB digital banking application, and the Silver award in Lead Generation at the MMA SMARTIES Awards 2021.