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11/01/2024

S&P GLOBAL MAINTAINS B+ CREDIT RATING AND “STABLE” OUTLOOK FOR EXIMBANK

On September 22, 2020, Bank of New York Mellon (BNYM) of the US awarded the Outstanding International Payment Quality - STP Award to Eximbank with the electricity ratio meeting STP (Straight Through Processing) standards of over 98 %.

The STP Awards are awarded based on BNYM's globally consistent application standards based on the quantity of payment electricity and the quality of payment electricity that is processed automatically throughout. This is the recognition of a long-standing and reputable foreign financial institution for the quality of Eximbank's automatic payment messages, and at the same time affirms the quality of technology, the quality of automatic payment implementation as well as the appearance of Eximbank. professional excellence of Eximbank's staff.



Mr. Arnon Goldstein - Managing Director and Head of Asia Pacific, Treasury Services, of BNYM shared: "On behalf of BNY Mellon, I am honored to present the award for Outstanding International Payment Quality." excellent - 2019 BNY Mellon STP Award for Eximbank. This award recognizes Eximbank's excellent MT103 payment processing quality in 2019. BNY Melon is proud to be a partner of Eximbank since 1995, we hope the bank will continue to Maintain the position of an excellent bank in international payment services in the coming time."

Not only BNYM Bank, throughout the years, Eximbank has also been honored to be awarded this award by many other prestigious correspondent banks such as Wells Fargo, Citibank and JP Morgan Chase.

With an extensive agent banking network, including more than 700 international banks/bank branches in 71 countries and territories, Eximbank is always proud to be able to provide the best and fastest support for all payment transactions in Vietnam. domestic and foreign customers at reasonable costs.


Currently, Eximbank is constantly improving its International Payment and Trade Finance product policies on a diverse, modern platform and optimizing benefits for customers. In addition, Eximbank also designs specialized import-export financing product packages for each customer group, each concentrated economic region, and provides consulting services on overall solutions for International Payment services. and Trade Finance to help customers save costs, enhance competitive advantage, and prevent foreign exchange risks as well as risks in international trade.
 
In addition, recently, the Asian Development Bank (ADB) granted a trade finance limit and a revolving credit limit to Eximbank with a total limit value of up to 31 million USD. ADB's trade finance limit granted to Eximbank will help significantly enhance Eximbank's strength in international payments, trade finance and create better conditions for Eximbank to meet more trade finance needs. customer's trade.

International credit rating agency Standard & Poor's Global Ratings announced that Eximbank's long-term partner credit rating was maintained at B+ with a "stable" outlook, unchanged from the rating announced in September/ 2019.

The assignment of long-term partner credit rating B+, short-term B and "Stable" outlook is S&P Global's recognition of Eximbank's restructuring efforts, shown through selective growth rate, concurrent while making efforts to gradually reduce outstanding bad debts, improve asset quality and maintain high capitalization and good liquidity, while also reflecting the bank's position in the mid-range private banking system in Vietnam. Vietnam. The "stable" outlook shows that, in the next 12 - 18 months, S&P expects Eximbank to continue to maintain improved growth and stable profits in the process of gradually reducing outstanding assets and improving operating performance.

In the context of the Covid-19 epidemic negatively impacting the global economy in general and Vietnam in particular, the fact that S&P Global Ratings maintains the credit rating for Eximbank is a positive assessment of the process of transformation efforts. and the bank's adaptation in the new context, especially good control of existing risks with continuous improvements in operations and stable long-term growth prospects.

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