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Banking & Finance

Vietcombank picks up bond award

Released at: 16:55, 23/01/2016

Vietcombank picks up bond award

Bank presented with Market Maker Best Bond Award 2015 from Vietnam Bond Market Association.

by Thu Hoang

The Bank for Foreign Trade of Vietnam (Vietcombank) is among six entities to receive a Market Maker Best Bond Award 2015 by the Vietnam Bond Market Association (VBMA).

The award is in recognition of Vietcombank’s accurate forecasts on bond markets and positive contribution to the activities of VBMA, where Vietcombank had a role as a founding member.

Vietnam’s bond market is facing a host of difficulties due to low market demand and an unfavorable environment for the bond business, according to Mr. Pham Thanh Ha, Deputy General Director of Vietcombank and Deputy Chairman of VBMA.

VBMA acts as a bridge in dialogue with State agencies and promotes the development of the bond market towards the standardization of transactions in accordance with international practice, Mr. Ha said.

Vietcombank was established on April 1, 1963, from the Foreign Exchange Bureau of the State Bank of Vietnam. As the first State commercial bank chosen for pilot equitization by the government, Vietcombank officially came into operation on June 2, 2008 after successfully conducting an IPO.

During its more than 50 years of development it has contributed significantly to the stability and growth of the national economy, facilitating efficient domestic economic growth as well as influencing the regional and global financial community.

VBMA is a non-profit organization aimed at promoting the professional and effective development of Vietnam’s bond market, guaranteeing the legitimate rights and interests of members and at the same time ensuring the national interest.

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