VIETNAM 22 Domestic Banks Recieved Award From Citi Vietnam

22 Domestic Banks Recieved Award From Citi Vietnam

Citi Vietnam on May 20 awarded 22 banks in Vietnam for their achievements in advanced global payment capabilities. This is the 8th year in a row that the Citi Straight Through Processing (STP) Awards Program recognizes local banks based on the straight through processing rate, a rate assigned for accuracy in electronic transfers, which is at least 90%.

This years winners include four state-owned commercial banks and 18 joint stock banks: Joint Stock Commercial Bank for Foreign Trade of Vietnam; Vietnam Bank for Agricultural and Rural Development; Vietnam Joint Stock Commercial Bank for Industry and Trade; An Binh Commercial Joint Stock Bank; Vietnam International Commercial Joint Stock Bank; Military Commercial Joint Stock Bank; Vietnam Technological and Commercial Joint Stock Bank; Petrolimex Group Commercial Joint Stock Bank; Vietnam Maritime Commercial Stock Bank; Vietnam Joint Stock Commercial Bank for Private Enterprises; Southeast Asia Commercial Joint Stock Bank; Bank for Investment and Development of Vietnam; Hanoi Building Commercial Joint Stock Bank; Asia Commercial Joint Stock Bank; Hochiminh City Housing Development Joint Stock Bank (HDBank); Saigon Thuong Tin Commercial Joint Stock Bank; Nam Viet Commercial Joint Stock Bank; Orient Commercial Joint Stock Bank; DongA Commercial Joint Stock Bank; Indovina Bank; Southern Commercial Joint Stock Bank; and Housing Bank of Mekong Delta.

The award ceremony also included a full day seminar under the themes of "connection". At the seminar, representatives from winning banks discussed partnership opportunities such as Financial Institutions (FI) Network Trade Connectivity, Network richness, and technical campaigns. The seminar also devoted time for trade services updates including risks participation and supply chain solutions.

"This award highlights the increasing sophistication of Vietnamese banks. I am happy to see that each year we have more winners who have shown that they have improved service quality and apply international quality standards,", said Brett Krause, Managing Director, Citi Country Officer for Vietnam.

"Citi is more than willing to share our expertise and experience to help develop the banking sector of Vietnam. Our Global Transactions Services business, the cash management and trade finance businesses coupled with our strong FX markets capabilities are really second to none across the region and were able to deliver that very effectively in Vietnam," said Krause.

Citi offers its market leading payment system services to clients in Vietnam. These include the Express Wire service which offers two-hour delivery of intra Asia funds and Citis Payment Investigation Manager, which provides an automated online system which help clients track transactions 24/7.

Citi was the first foreign bank in Vietnam to provide an E-banking support system that helps International Payments divisions monitor transactions.

http://www.evietnambusiness.com/banking-news/news/1149-22-domestic-banks-recieved-award-from-citi-vietnam.html