Vietcombank Wins 2008 Best Cash Manager Award

According to the Foreign Trade Bank of Vietnam (Vietcombank), after receiving the award “The Best Bank in 2008”, Vietcombank won the Asiamoney magazine’s award for “The Best Cash Manager in 2008” voted by businesses.

The award is divided into two categories: one voted by enterprises and the other voted by financial institutions. As for the first category, the organisation board sent a questionnaire to 5,500 fund and financial managers of listed companies, multi-national corporations, small and medium-sized enterprises and unlisted companies in the Asia-Pacific region. Out of nearly 3,000 replies, there were 65 from Vietnamese enterprises. The questionnaire aims to collect information about cash management and cash management service provision using the following criteria: the most creative cash management solutions; the best cash management solutions in administrating liquidity, collectibles and payables; the best understanding of business strategies, targets and requirements before proposing cash management solutions; the best capability in electronic and online technologies; the best after-sales service supply; the best ability to search for cash management services for businesses.

This is the 18^th year Asiamoney has held the poll for the award. As for the second category, Citigroup is the winner of the best supplier of local currency management services in Vietnam.