VPBank has helped more than 40,000 women-owned enterprises to gain access to banking loans (Source: nhandan.org.vn)Hanoi (VNA) – The Vietnam Prosperity Joint Stock Commercial Bank(VPBank) has named Best Issuing Bank Partner for Women-Owned Businesses in EastAsian Pacific in 2017 by the International Finance Corporation (IFC).
The award is the recognition for its contribution to theIFC’s Global Trade Finance Programme (GTFP).
After nearly two years of participating and implementing theprogramme, VPBank has achieved impressive results in promoting import, exportand local trade.
In 2017, VPBank saw remarkable achievements in transactionbanking in 2017, including increased off-balance sheet balance, foreignexchange trading balance and fees income. The bank’s off-balance sheet balancerose 20 percent, with fees income from trade finance transactions up 13.8 percentyear-on-year. Twenty supply chain financing programmes were implemented with year-on-yearTOI growth of 31 percent.
In 2017, VPBank implemented an initiative to support womenbusiness owners with the sponsorship and cooperation of IFC.
Women-owned businesses account for 18 percent of the SMEcategory and 85 percent of the household category, which brings some 85 percentof fees income from insurance and trade finance transactions.
As a leading bank in this segment, VPBank has supported morethan 40,000 enterprises accessing banking capital, which helps businesswomenrealise their potential and contribute to economic growth.-VNA
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