Vietcombank Remittance Company wins two international awards at the 9th Global Brands Magazine Awards

Vietcombank Remittance Company, a reputable money transfer company, has won the “Excellence Money Transfer Company, Vietnam 2021” and “Best Home Payment Service Provider, Vietnam 2021” awards. The felicitation ceremony will be held at the Palm Jumeirah – Waldorf Astoria in mid-2022 in Dubai.

The Global Brand Awards is an annual event held by Global Brands Magazine (GBM), an international publication headquartered in the UK. The award aims to recognise global brands achieving excellence in performance across a broad range of sectors while keeping its readers updated on the branding world’s key trends. VCBR was evaluated based on values, innovation, quality, brand awareness, technology application, risk management and customer service. To meet the above criteria, VCBR has remarkably improved its operational procedures, diversified its products, and enhanced its customer’s experience to reaffirm the company’s quality of services and trust with customers and partners.

Commenting on Vietcombank Remittance Company winning the awards, ShivKumar (CEO) of Global Brands magazine said, “Vietcombank Remittance Company has not only broken the boundaries of moving money across the Vietnamese border but smashed them with their latest efforts of bringing excellence in money transfer services to the country. We’re so impressed with their latest performance that we’ve decided to bestow them with two awards. An outstanding achievement!”

Commenting on winning the award, Mr. Dao Minh Tuan (deputy CEO) said “VCBR was established with the main task of facilitating remittances from abroad to Vietnam, supporting the ecosystem of Vietcombank’s products and services, following its vision and strategic objectives for 2025: maintaining Vietcombank’s position as the No. 1 retail bank in Vietnam and becoming one of the 100 largest banks in Asia; one of the 300 largest banking and financial groups in the world and one of the 1000 largest listed companies in the world. Despite just operating for 4 years, VCBR has caught up with and then speeded up to compete fairly with other remittance companies having their enduring and robust existence of up to 15 – 20 years in the market. To record such great achievements, thanks to the steadfast efforts of the entire VCBR team in providing the best service experience and building solid trust with customers and partners. The two awards obtained from GBM are a significant affirmation and recognition of VCBR’s efforts and achievements in providing the best service to the market. However, VCBR will have to encourage further innovation in its business operation towards the goal of becoming the Number 1 Remittance Company in Vietnam.”

About Vietcombank Remittance Company

The Covid-19 pandemic has had a disastrous impact on the global economy in the last 2 years. A huge number of companies have been forced into bankruptcy and the unemployment rates across the world have reached high records. The pandemic also had a serious impact on money transfer and remittance companies; Many of them had to change their ways of doing business in order to weather the socioeconomic changes and disruptions caused by the epidemic. Particularly in Vietnam, several remittance companies constantly had to narrow the scope and scale of their operations. According to Mr. Nguyen Hoang Minh – Deputy CEO of State Bank of Vietnam Ho Chi Minh branch – the flow of remittance to Ho Chi Minh city till November of this year is approximately 6.2 billion USD, which has already surpassed the number for the entire year of 2020 at 6.1 billion USD. Under this circumstance, VCBR has proactively adapted to the chaos along with encouraging Innovation. It has also undertaken its operation to be more flexible to the coronavirus waves in Vietnam. Therefore, VCBR’s business performance has been not only just safe and sound but also more profitable with high efficiency. According to World Bank, the flow of remittances to Vietnam in 2021 will see an increase to 18.1 billion USD from 17.2 billion USD in 2020. This year Vietnam will still be in the top 10 countries in receiving remittances. VCBR has made a striking growth in terms of volumes with a forecasted increase of over 60% compared to 2020, ranking in the Top 2 remittance companies in Vietnam.

About Global Brands Magazine (England)

Global Brands Magazine (GBM) has been at the forefront, bringing news, views and opinions on brands shaping the future of their industry. The UK-based magazine provides its readers with the latest news and information on ‘best-in-class brands across the globe. Each year, GBM develops a series of awards for companies that stand out, having a unique vision, exceptional service, innovative solutions and consumer-centric products among their industry leaders.

About Global Brand Awards

Global Brand Awards honours brands for their excellence in performance and rewards companies across different sectors for the quality of their services. The Brand Awards highlight the accomplishments of organisations that have performed remarkably well in finance, education, hospitality, automotive, lifestyle, education, real estate, technology, and more. Global Brand Awards recognise vital players who progress towards excellence by providing a platform to acknowledge their efforts. In addition, GBM strives to create awareness concerning the significance of such organisations and rewards them for their notable efforts with the ultimate global recognition.