ADB honors TPBank as the leading bank in supporting SMEs

With its outstanding efforts in trade financing in Vietnam, Tien Phong Commercial Bank (TPBank) has been honored by the Asian Development Bank (ADB) with the Leading SME Trade Bank award for the third consecutive year.

Recently, ADB held an awards ceremony for the Trade and Supply Chain Finance Program (TSCFP) to recognize partner banks with outstanding achievements in promoting trade and supply chain finance in the Asia-Pacific region in 2024. This annual award involves participation from 240 member partners globally. At the event, TPBank was honored as the Leading SME Trade Bank for the third consecutive year, reaffirming TPBank's reputation and brand position with ADB and other partner banks.

Speaking at the program, Ms. Trần Bích Hạnh, Deputy Director of the Capital and Financial Markets Division at TPBank, shared, “With strong support from ADB, TPBank has more opportunities to help customers access funding, expand their businesses, and enhance financing capabilities for small and medium enterprises at low costs, along with a variety of flexible financial services.”

With a focus on sustainable development, TPBank is committed to enhancing support for trade finance transactions, especially for women-owned businesses, significantly promoting gender equality in finance in Vietnam. Recently, the International Finance Corporation (IFC) recognized TPBank as the Best Trade Partner Bank for Gender Equality Financing 2024. Previously, TPBank signed cooperation agreements with international organizations such as ADB and the KfW Development Bank's DEG, with a total loan value of up to 50 million USD aimed at improving access to capital for women-owned SMEs in Vietnam.

ADB's Trade and Supply Chain Finance Program (TSCFP) aims for sustainable, inclusive, transparent, and socially responsible global trade and supply chains. Since its inception in 2009, the TSCFP has supported 57 billion USD for trade activities across 45,510 transactions, with 60% related to SMEs. In Vietnam, the support categories focus on programs that transform the green economy, leverage the private sector, promote social equity, enhance climate resilience, foster sustainable development, improve transportation connectivity, and reduce poverty in remote areas.

As of the end of 2023, the cumulative disbursement value of loans and non-repayable aid from ADB to Vietnam, covering both the public and private sectors, reached 12.79 billion USD, funded by regular capital sources, concessional loans, the Asian Development Fund, and other special funds. With a commitment to support Vietnam in achieving its Net Zero goal by 2050, ADB is actively promoting financing projects to develop and nurture green banking activities.