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Eximbank's announcement

11/01/2024

Eximbank was honored by Refinitiv as one of the five largest market makers in Vietnam

Within the framework of the recent LSEG FX Awards 2023 ceremony in Hanoi, Eximbank was honored to receive the "Top 5 volume traded - Matching" award (Top 5 banks with the largest foreign exchange transactions in the market - FX Matching).
The award was awarded by Refinitiv - a member of the London Stock Exchange Group (LSEG) - based on transaction statistics of nearly 30 domestic and foreign banks operating in Vietnam on the system. Interbank foreign currency trading system (FX Matching) in 2022. This is a big playground for credit institutions and foreign bank branches in the Vietnamese market. Eximbank is honored to always be in the Top 5 banks with the top transaction volume in the market over the years.

Mr. Steve Dean - Director of LSEG ASEAN region (2nd from left) presented the award to Eximbank Representative - Ms. Huynh Ngoc Trang - Director of Currency Trading Department (4th from left) and Eximbank FX Trading department

Speaking at the Awards Ceremony, Mr. Steve Dean - Director of LSEG ASEAN region said: "FX Awards is a long-standing and prestigious award in the Asia-Pacific region of Refinitiv. The award is organized to promote transparency and affirm the importance of the foreign exchange market and electronic foreign exchange trading system in the economy, especially in the context of strong market fluctuations like in 2022. via".
Import-export payment activities and foreign exchange trading have always been Eximbank's strengths. This prestigious award once again affirms Eximbank's position as a market maker in the Vietnamese foreign exchange market - with trading volume Eximbank's outstanding services and influence in the market.
In particular, on November 29, 2022, Eximbank was approved by the Governor of the State Bank of Vietnam to add the content of interest rate derivative activities as cross currency swap transactions (Cross Currency Swap) to the Certificate of Interest Rate Derivatives. Licensed to operate under Decision No. 2008/QD-NHNN.  

The fact that Eximbank has been approved by the State Bank to supplement its operational content confirms that Eximbank has fully complied with the provisions of law on safety ratios in banking operations, has measures and management systems in place. Risk management meets prescribed standards, complying with regulations on foreign exchange activities in particular and monetary policies of the State Bank in general.
This is Eximbank's honor in diversifying the provision of foreign exchange products and derivative products to customers, opening up opportunities to increase the customer portfolio, especially the group of customers with transactions. Foreign currency loan transactions in the international market (FDI/FII enterprises, multinational companies, securities companies, investment funds...).
Cross-currency swap transaction (CCS) is a transaction in which Eximbank and the Customer agree to swap interest rates and principal amounts in one currency for interest rates and principal amounts in another currency.
With cross-currency swaps (CCS), customers can hedge the risk of exchange rate and interest rate fluctuations in the market, especially in the medium and long term. In addition, customers can effectively control cash flow and minimize interest costs to protect the profits of their investment portfolio against adverse market fluctuations.
Eximbank is proud to always be one of the most prestigious and reliable partners in the Vietnamese foreign exchange market.

Recently, the Asian Development Bank (ADB) continued to increase the trade finance limit for Eximbank from 31.5 million USD to 75 million USD. To be able to increase the above limit, Eximbank has well met the criteria set by ADB such as: Transparent and effective business operations, good risk management and good support for import-export businesses, as well as such as small and medium enterprises (SMEs). Eximbank is committed to using capital in the most effective way to support Vietnamese businesses, especially small and medium-sized enterprises and their supply chains, thereby contributing to promoting economic and social development. The increase in trade finance limit demonstrates ADB's trust and appreciation for Eximbank's reputation, transparency, healthy operations as well as effective use of capital and always aiming for sustainable development. solid. This also helps affirm and enhance Eximbank's traditional strength in the fields of international payments and trade finance.

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