Techcombank received the certificate of merit 'Best Market Maker'

This is the second consecutive time Techcombank has been honored for its contributions throughout 15 years of market development.

Mr. Phan Thanh Son - Deputy General Director and Director of Techcombank Global Transaction Banking (4th from left) - received a certificate of merit from the Ministry of Finance - Photo: Techcombank

Techcombank honored by the Ministry of Finance for the second consecutive time

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has just been honored by the Ministry of Finance as "Best Market Maker" for the 5-year period 2020-2024.

The award was presented within the framework of the "Conference summarizing 15 years of operation and development of the Government bond market" held on December 5, 2024 in Hanoi.

The Certificate of Merit from the Ministry of Finance is the most prestigious ranking in evaluating banking and non-bank financial institutions in capital mobilization for the state budget.

This is the second consecutive time Techcombank has been honored for its contributions throughout fifteen years of market development. Previously in 2019, with the award "For outstanding achievements contributing to the development of the government bond market for 10 years (2009-2019)".

This milestone not only demonstrates outstanding financial management capacity but also affirms Techcombank's strong commitment and recognition of its positive, sustainable and consistent contributions in leading the commercial banking sector in contributing to the development of Vietnam's primary and secondary government bond markets over the past fifteen years of market establishment and development.

The conference was chaired by the Ministry of Finance with the participation and speech of Deputy Prime Minister and Minister of Finance Ho Duc Phoc and representatives of agencies of the Party, National Assembly, Government, ministries, branches, issuing organizations, international organizations, associations and market members.

Representative of Techcombank, Mr. Phan Thanh Son - Deputy General Director and Director of Global Transaction Banking - said that the certificate of merit from the Government and the Ministry of Finance is a worthy recognition for our continuous efforts over the past time in serving customers, developing the market, contributing to creating a stable source of capital for the state budget.

"The leading position in the market has affirmed Techcombank's right direction to realize the vision of "Transforming the financial industry, enhancing the value of life. Techcombank will continue to maintain its leading and market-creating role, contributing to the construction and ensuring the sustainability of the government bond market under the direction of the State", he affirmed.

According to the Ministry of Finance, the title of "Excellent Market Maker" is assessed based on strict criteria, including the quantity and value of government bond transactions in both the primary and secondary markets, efficiency in creating liquidity and price transparency, good performance of market member obligations, regular participation in giving opinions to build and develop the market, as well as the ability to coordinate with management agencies in the work of bidding and bond issuance.

Receiving the "Best Market Maker" award means that the bank is leading the banking sector in all of the above activities, especially in secondary market making, where banks are playing a key role in market development, contributing to creating a healthy and professional government bond market.

Contribute to the task of raising capital for the state budget

Mr. Phan Thanh Son, Deputy General Director and Director of Global Transaction Banking, Techcombank, received a certificate of merit from the Ministry of Finance. Photo: Techcombank

Techcombank's 15-year journey of operating and developing the government bond market has left a strong mark on the primary market as the bank has been a continuous bidding member.

Techcombank participates in 100% of government bond auctions with reasonable bidding prices, helping management agencies have the most accurate market reference database, ensuring budget mobilization at the most economic yield.

During the period 2019 - 2024, Techcombank's bidding volume always accounted for an average of 10% of the total winning bid volume in the whole market. Even in difficult times of the economy when facing the COVID-19 pandemic, Techcombank still strived to complete and double the investment target of the Government bonds, contributing positively to maintaining a stable and regular source of capital for the state budget.

Techcombank is also an active market maker in the secondary market with large trading volume, accounting for about 10% of the market's trading share and always ranking at the top in monthly trading volume of the Hanoi Stock Exchange (HNX).

Play a good role in creating liquidity and supporting the development of financial markets.

As an active market maker, Techcombank is also an active member of associations such as VBMA - Vietnam Bond Market Association, to contribute to creating liquidity and transparent price sources for the market, actively contributing ideas to management agencies to remove difficulties as well as propose solutions to develop new products and develop the market.

Techcombank also continuously received VBMA awards such as member with the highest transaction turnover, member with the most competitive quotations and member with the most quotations for the most terms.

In addition to the "Best Commercial Bank Market Maker" award, in 2024, the bank was also rated BB- by S&P, the highest level among joint stock commercial banks in Vietnam.

Techcombank is also the first and only private bank to be honored as "Best Bank in Vietnam 2024" by three of the world's leading financial magazines, including Global Finance, Finance Asia and Euromoney.

Source: https://tuoitre.vn/techcombank-nhan-bang-khen-nha-tao-lap-thi-truong-xuat-sac-nhat-20241209192931021.htm