10:55 | 25/12/2018 Finance - Banking
The Tien Phong Commercial Joint Stock Bank (TPBank) has won the 2018 fastest-growing small- and medium-sized enterprise (SME) bank award from the Global Banking and Finance Review.
|At the bank - Source: TPBank|
The magazine announced the award on its website www.globalbankingandfinance.com on December 18, saying that TPBank was selected based on the criteria for the growing number of SMEs as clients, the number of financial products and services for them and revenue growth from the segment.
The number of SME clients of TPBank has reached 32,400, up nearly 50 percent from early this year. Revenue from them nearly doubled compared to 2017.
The bank has also offered financial consultations, held training courses on corporate governance and supported e-commerce platforms and payments.
This year, it stepped up trade financing before and after goods delivery, L/C opening and payment for imported goods and money transfer service, increasing its clients by 60 percent and revenue by 80 percent from the previous year.
The bank has been trusted by reliable partners in supplying financial services to SMEs, especially the International Finance Corporation. Thanks to its support, TPBank’s financial activities have thrived.
TPBank General Director Nguyen Hung said in the near future, the bank will apply digital technology to build and improve products for SMEs.
In late November, TPBank was honoured with the Labour Order, third class, by the Party and State.
From July-October, the US rating agency Moody’s upgraded TPBank’s trust level to B1 twice, laying a foundation for the bank to grow strongly in the future.