Question list FI

Financial Institutions

Frequently asked questions

List of questions

- 1. Can the issuing bank be paid in full or a part of the trade loan before the maturity date?
  
  Vietcombank considers making payment of all or part of the trade loan before the maturity date on the basis of a request from the Issuing Bank.
- 2. Can the trade loan of the draft/ documents discount transactions under L/C be made after the maturity date for payment of the documents?
  
  Vietcombank only makes trade loans for discounting transactions of drafts/documents under L/C with a term not exceeding the remaining payment term of such draft/documentation and, in all cases less than 1 year. Therefore, Vietcombank does not make trade loans for discounting transactions of bills of exchange/documentation under L/C after the due date of the set of documents.
- 3. Does VCB assist businesses in finding strategic partners in M&A activities?
  
  Vietcombank is committed to support customers in connecting with international businesses on the basis of Contract/ Agreement between the two Parties, with our advantage of world wide branches, representative offices, and partner networks, especially our strategic partner Mizuho from Japan.
- 4. Does Vietcombank require a minimum amount for buying or selling foreign currencies?
  
  Vietcombank does not require a minimum amount for buying or selling foreign currencies.
- 5. For which types of funds does VCB provide Depository, supervision, and management?
  
  Vietcombank currently provides depository, supervision, and management services for all types of funds, including Open-Ended funds, Pension funds, ETE funds, investment trust portfolios, and so on.
- 6. How many current deposit accounts can a Financial Institution customer open at Vietcombank?
  
  Vietcombank does not limit the number of customers' current deposit accounts.
- 7. In order to buy foreign currencies, do corporates have to provide document evidencing the reason for purchase?
  
  Buying foreign currencies subjects to laws and regulations by the State Bank of Vietnam. Therefore, buyers have to provide document evidencing the reason for purchase foreign currencies upon executing trade with Vietcombank.
- 8. Vietcombank’s credit rating
  
  Vietcombank is one of Vietnam's highest credit rated commercial banks, according to the most prestigious credit rating agencies.
  
  In 2022, Fitch Ratings upgraded Vietcombank’s government support rating from BB- to BB, raising Vietcombank's long term issuer default rating 1 level, in line with Vietnam's sovereign rating of 'BB', and continuing to maintain a Positive Outlook. Vietcombank's viability rating was also upgraded to BB- due to its stable liquidity, improved asset quality, low non-performing loan ratio, and the prospect of sustainable profit growth. The increase in credit rating of Vietcombank contributes to affirming the effective operations of the bank over the past few years and is also a motivation for Vietcombank to continue to complete its business plan in 2022 and the following years.
  
  In the same year, S&P Ratings upgraded Vietnam’s long-term sovereign credit rating from “BB” to “BB+” and on the following day, S&P announced an update of Vietcombank’s credit rating from “BB-” to “BB” (the best rating among Vietnamese banks). As the leading bank in Vietnam, Vietcombank is expected to gain from external resources when Vietnam's sovereign credit rating improves and to get prompt and complete support from the government in case of financial difficulties.
- 9. What are currencies being traded and where can I find their exchange rate?
  
  Vietcombank offers up to 14 foreign currencies including AUD, CAD, CHF, DKK, EUR, GBP, HKD, JPY, NOK, SEK, SGD, THB, KRW, USD,...
  
  Please visit our Exchange Rate page for the most up-to-date exchange rate information.
- 10. What information do corporate customers need to provide to partners when receiving capital from abroad at Vietcombank?
  
  To receive capital from a foreign partner, please provide the partner with the following information:
  
  Your Account Name and Account Number at Vietcombank
  
  Beneficiary Bank’s name: Vietcombank (Joint Stock Commercial Bank for Foreign Trade of Vietnam)
  
  Address: No. 198 Tran Quang Khai Str., Hoan Kiem Dist., Ha Noi
  
  Country: Viet Nam
  
  Vietcombank’s SWIFT code: BFTVVNVX

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