Agribank now offers international payment services to 164 countries spread across five continents.
In Asia, Agribank's international payment services are concentrated in several countries and territories such as China, Singapore, Korea, Japan, India, Thailand, and Taiwan (China).
This region accounts for 74.35% of total export and import revenues through Agribank, and is also the region with the largest number of correspondent banks with 412 banks.
Payment turnover of import and export via Agribank in other markets: America accounts for 19.6% of total international payment turnover of Agribank via 95 correspondent banks, Europe accounts for 4.47%, Australia and Oceania account for 1.13%, and Africa accounts for 0.46% of Agribank's total import and export payment turnover.
The distribution of Agribank's correspondent banks is now in line with the demand for import and export payment in different markets.
Agribank has 192 branches that make direct international payment and correspondent banking network in 86 countries and territories, capable of satisfying customers' import-export payment requirements.
At present, Agribank has 40 standard international payment products, ensuring the sufficient supply of products to the Vietnam;’s market, of which several products and services are highly appreciated by customers such as Cross border payment service between Vietnam and Laos through CBPS, Vietnam-China border payment, multi-currency transfer service, Cambodia-Vietnam money transfer, UPAS L/C.
Payment via transfer service has gradually increased from the year 2014 to date, the proportion of payment by collection method tends to be stable from the year 2015 to date.
According to the International Chamber of Commerce (ICC), along with the trend of integration and globalization that bring the countries closer together, the access to information among nations is nơ simpler and faster. Exporters and importers in the world tend to switch to using simple, fast, effective and economical methods of payment.
Agribank's international payment structure is perfectly in line with the trend of international trade. As Vietnamese enterprises better understand their partners and integrate into the world economy, they will want to simplify payment procedures and save costs and transaction time.