Jonathan Hirst (L), publisher of FinanceAsia magazine, presents the award to Techcombank’s general director Nguyen Duc Vinh - Photo: Ngan Mai

Vietnam Technological and Commercial Joint Stock Bank, or Techcombank, on Tuesday held a function to receive three awards from FinanceAsia, one of Asia’s most prestigious magazines in the field of finance.

The 18-year-old bank simultaneously won three titles “Vietnam’s Best Bank in 2011”, “Best Cash Management Bank in Vietnam in 2011”, and “Vietnam’s Best Trade Finance Bank in 2011”.

Jonathan Hirst, publisher of the magazine, said that there were six Vietnamese banks applying for the awards but the panel of judges decided only Techcombank was worthy of the three awards.

The panel of judges based the award decisions on such criteria as effective and outstanding business strategy, professional administrative model and activities towards customer-centered services in accord with international standards and good adjustability to the fluctuations of markets and customers’ demands.

Besides, the award-winning bank must achieve high growth rate and effectiveness in activities in many consecutive years as well as effective activities of capital adequacy ratio and risk management; and have high-quality products and services among others.

General director of Techcombank Nguyen Duc Vinh said the bank served as many as two million individual customers and 60,000 enterprises.

The total working capital of the bank, as of September 2011, reached some VND9 trillion and the bank still retained its position as one of three leading banks in terms of working capital among non-state commercial joint stock banks.

Moreover, Techcombank was also named among banks with the fastest network expansion, operating around 300 branches and transaction offices as well as over 1,000 automated teller machines (ATM) nationwide.

The Saigon Times Daily