On July 4, 2024, in Singapore, Vietcombank was honored to receive the distinguished "Risk Management Initiative of the Year" award from Asian Banking and Finance Magazine (ABF) to recognize Vietcombank's exceptional capital stress testing framework.

The 2024 ABF Awards brought together over 250 financial institutions representing 30 countries, showcasing the growing significance and competitive nature of the finance and banking sector in the Asia-Pacific region. This recognition highlights Vietcombank's commitment to excellence in risk management and underscores its position as a leading financial institution in the region.

A representative of Vietcombank received the prize at the ABF 2024 award ceremony

Vietcombank's remarkable achievements in the field of risk management have been acknowledged through the prestigious "Risk Management Initiative of the Year" award. ABF Magazine highlighted: “Vietcombank's pioneering efforts in developing a comprehensive and advanced capital stress testing framework, surpassing the regulatory requirements set by the State Bank of Vietnam. This recognition further solidifies Vietcombank's position as the leading bank in risk management in Vietnam, supported by reputable risk management consulting partners.”

To secure this esteemed award, Vietcombank excelled in ABF's rigorous evaluation criteria, which encompassed uniqueness, innovation, effectiveness, and the impact of its risk management practices. Additionally, the bank showcased its flexibility and adaptability in navigating fluctuating market conditions, demonstrating its commitment to staying ahead of the industry.

Mr. Nguyen Manh Hung – a member of Vietcombank’s Board of Directors delivered a speech at the ABF 2024 award ceremony

During the ABF 2024 Awards Ceremony, Mr. Nguyen Manh Hung, a member of the Board of Directors at Vietcombank, underscored the bank's unwavering commitment to upholding the highest standards in risk management. This dedication aims to enhance the effectiveness of risk control, support the bank's business activities, and contribute to the overall stability of Vietnam's financial market.

Vietcombank's capital stress testing framework is an integral component of the bank's implementation roadmap for Basel II F-IRB and Basel III. It serves as essential input for decision-making processes in risk management, finance, and strategy. By ensuring stable and effective operations, this framework positions the bank for a successful future.

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