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NATIONAL ECONMICS UNIVERSITY EXCELLENT EDUCATION PROGRAM BACHELOR’S THESIS Major Banking Topic The development of international payment at Vietnam Joint Stock Commercial Bank For Industry And Trade Th[.]
NATIONAL ECONMICS UNIVERSITY EXCELLENT EDUCATION PROGRAM BACHELOR’S THESIS Major: Banking Topic: The development of international payment at Vietnam Joint Stock Commercial Bank For Industry And Trade Thanh Xuan branch Student : Nguyễn Thị Minh Lê Major : Banking & Finance Class : Banking 58 Student’s ID : 11162720 Supervisor : Dr Phung Thanh Quang Hanoi, 2020 STATUTORY DECLARATION I herewith declare that I have authored the present thesis independently making use only of the specified literature Sentences or parts of sentences quoted literally are marked as quotations; identification of other references with regard to the statement and scope of the work is quoted The thesis in this form or in any other form has not been submitted to an examination body and has not been published Hanoi, … /…… / 2020 Author’s signature NGUYEN THI MINH LE ACKNOWLEDGMENTS First and foremost, I would like to express profound gratitude to my research supervisor, Dr Phung Thanh Quang for his invaluable support, encouragement, supervision and useful suggestions throughout this project work Without his assistance and dedicated involvement in every step throughout the process, this paper would have never been accomplished I would like to thank you very much for your support and understanding over these past two months I am also grateful for my instructor, Miss Cao Phuong Nhung and the Large corporate customer Department for providing me an opportunity to my internship and project work in Vietinbank Thanh Xuan Branch Last but not least, I am thankful and indebted to all those who helped me directly or indirectly in completion of my bachelor’s thesis TABLE OF CONTENTS ABBREVIATIONS …………………………………………………… … ………………… i LIST OF TABLES0…………………………………………….…………………… ……… ii LIST OF FIGURES0………………………… ………………….…………………… ii INTRODUCTION CHAPTER 1: THEORETICAL BASIS OF INTERNALTIONAL PAYMENT AT COMMERCIAL BANKS 1.1 INTERNALTIONAL PAYMENT AT COMMERCIAL BANKS .3 1.1.1 Overview of international payment 1.1.1.1 Definition of international payment 1.1.1.2 Characteristics of international payment 1.1.2 The roles of international payment 1.1.2.1 The roles of international payment to commercial banks .5 1.1.2.2 The roles of international payment to the economy 1.1.3 International payment operations 1.1.3.1 Main tools used in international payment .8 1.1.3.2 Terms of international payment 1.1.3.3 Methods of international payment 11 1.2 DEVELOPMENT OF INTERNATIONAL PAYMENT OF COMMERCIAL BANKS .13 1.2.1 The concept of developing international payment of commercial banks 13 1.2.2 The indicators reflect the development of international payment 14 1.2.3 Factors affect international payment operations 17 CHAPTER 2: CURRENT SITUATION OF THE DEVELOPMENT OF INTERNATIONAL PAYMENT AT VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE- THANH XUAN BRANCH .21 2.1 OVERVIEW OF VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE -THANH XUAN BRANCH 21 2.1.1 History of establishment and development of Vietnam Joint Stock Commercial Bank for Industry and Trade – Thanh Xuan Branch 21 2.1.2 Organizational structure .22 2.1.2.1 Organizational chart 22 2.1.2.2 Tasks of the departments .22 2.1.3 Business operations of Vietinbank - Thanh Xuan Branch .26 2.1.3.1 Capital mobilization activities 26 2.1.3.2 Credit operations 26 2.1.3.3 Payment activities and funds .28 2.1.4 Business situation at Vietinbank - Thanh Xuan Branch 29 2.2 CURRENT SITUATION OF INTERNATIONAL PAYMENT OF VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE 32 2.2.1 Organizational structure of international payment activities at Vietinbank - Thanh Xuan Branch .33 2.2.2 The situation of international payment under the import-export structure 34 2.2.2.1 International payment methods at Vietinbank Thanh Xuan 34 2.2.2.2 Customer structure of international payment transactions at the branch 38 2.2.3 The development of international payment activities through a number of indicators 39 2.2.3.1 Quantitative indicators 39 2.2.3.2 Qualitative indicators 42 2.3 EVALUATION OF DEVELOPMENT OF INTERNATIONAL PAYMENT ACTIVITIES AT VIETINBANK - THANH XUAN BRANCH .44 2.3.1 Advantages 44 2.3.2 Drawbacks 45 2.3.3 Reasons of drawbacks 47 2.3.3.1 Subjective reasons 47 2.3.2.3 Objective reasons 48 CHAPTER 3: SOLUTIONS FOR DEVELOPING INTERNATIONAL PAYMENT AT VIETNAM INDUSTRIAL AND COMMERCIAL BANK THANH XUAN BRANCH 51 3.1 OPPORTUNITIES AND CHALLENGES OF VIETINBANK - THANH XUAN BRANCH 51 3.1.1 Opportunity 51 3.1.2 Challenges .51 3.2 ORIENTED DEVELOPMENT .52 3.2.1 Business development orientation 52 3.2.2 Development orientation of international payment activities 53 3.3 SOLUTIONS TO DEVELOP INTERNATIONAL PAYMENT 54 3.3.1 Improving the qualifications of staff 54 3.3.2 Improving and renewing technologies for international payment activities 55 3.3.3 Improving the quality and developing a range of related services 56 3.3.4 Strengthening marketing activities .57 3.3.4.1 Building broad strategy to attract customers 57 3.3.4.2 Improving promotion 58 3.3.5 Building a reasonable customer policy .58 3.3.6 Improve the quality and diversify international payment services 59 3.3.6.1 Improving the quality of international payment 59 3.3.6.2 Diversifying Payment Services: 60 3.2.7 Perform good consulting services for customers .60 3.4 RECOMMENDATIONS 60 3.4.1 For the Government .60 3.4.2 For the State Bank .61 3.4.3 For the headquarter .63 CONCLUSION 65 REFERENCES 66 COMMENT…………………………………………………………………… 73 ABBREVIATIONS No Explanation H.O SBV Vietinbank Vietinbank Thanh Xuan VTFC Explanation Headquarter State Bank Vietnam Joint Stock Commercial Bank For Industry And Trade Vietnam Joint Stock Commercial Bank For Industry And Trade – Thanh Xuan Branch VietinBank Trade Finance Center LIST OF TABLES Table 2.1: Main targets of Vietinbank Thanh Xuan in 2017 – 2019 Table 2.2: Revenue, expense and profit of Vietinbank-Thanh Xuan Branch in 20172019 Table 2.3: Export payment activities at Vietinbank Thanh Xuan Table 2.4: Import payment activities at Vietinbank Thanh Xuan Table 2.5: Quantitative indicators reflecting the development of international payment activities Table 2.6: Quality target of international payment at Branch LIST OF FIGURES Firgure 2.1: Organizational chart of Vietinbank Thanh Xuan Figure 2.2: International payment structure at Vietinbank Thanh Xuan 2017-2019 Figure 2.3: Payment structure according to different payment methods Figure 2.4: Customer structure of international payment transactions INTRODUCTION Urgency of research topics In the trend of world development today, international economic relations take place very excitingly, which leads to the complex diversity of international goods circulation as well as the movement of cash flows in payments The payment process has an important role for the operation of businesses, organizations and individuals in particular and the economy in general International payment takes place in a wide and complex market due to the gap between buyers and sellers, the laws of each country and the difference in the currency of payment Most businesses, organizations and individuals cannot make international payments by themselves Therefore, the demand for payment assistance is made by commercial banks International payment activities are an integral part of the commercial bank's business operation chain and increasingly prove its position and important role Nowadays, modern banks are multipurpose activities to increase income not only from traditional banking operations, but also to expand off-balance sheet operations such as international payment, foreign exchange business, and guarantee Offbalance sheet activities bring income to banks in the form of increasing fees not only in quantity but also in proportion However, off-balance sheet activities are also potentially risky, especially when some people think off-balance sheet activities bring attractive income, but banks not have to invest capital, which makes them subjective and inconsistent face the potential risks In off-balance sheet business, international payment is an important business with high growth rate, bringing increasing fees for commercial banks Vietnam Joint Stock Commercial Bank for Industry and Trade -Thanh Xuan Branch (Vietinbank Thanh Xuan) is a highly reputable bank in the area As a commercial bank, it has the advantage of providing international payment services in the locality However, the scale of international payment at Vietinbank - Thanh Xuan branch is still small, the quality of international payment is low, the products of international payment services are mainly traditional services, many modern operations have not been applied, few customers use international payment Therefore, it is necessary to find solutions to develop international payment activities atVietinbank Thanh Xuan From the urgency and usefulness of the problem, through the research process at Vietinbank Thanh Xuan and with the learned knowledge, the author chose to study the topic: “The development of international payment at Vietnam joint stock commercial bank for industry and trade- Thanh Xuan branch” Objectives of the study Systematize theoretical issues on developing international payment activities of commercial banks Analyzing the status of developing international payment activities over the years by Vietinbank Thanh Xuan branch, thereby drawing out achieved results, limitations and causes Proposing and proposing solutions to develop international payment activities at Vietinbank Thanh Xuan branch Research subject and scope The object and scope of the study is the development of international payment activities at Vietinbank Thanh Xuan The report focuses on assessing the status of development of international payment activities at Vietinbank Thanh Xuan during 2017-2019 Research Methodology The report uses the method of analyzing economic information according to norms, the method of comparison, synthesis, method of analyzing tables and graphs based on the statistics of Vietinbank Thanh Xuan during the period of 2017 - 2019 The structure of the report In addition to the Introduction, Conclusion, the report is structured into chapters, including: Chapter 1: Theoretical basis of international payment at commercial banks Chapter 2: Current situation of the development of international payment at Vietnam Joint Stock Commercial Bank For Industry And Trade- Thanh Xuan Branch Chapter 3: Solutions for developing international payment at Vietnam Industrial And Commercial Bank - Thanh Xuan Branch ... basis of international payment at commercial banks Chapter 2: Current situation of the development of international payment at Vietnam Joint Stock Commercial Bank For Industry And Trade- Thanh Xuan. .. SITUATION OF THE DEVELOPMENT OF INTERNATIONAL PAYMENT AT VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE- THANH XUAN BRANCH .21 2.1 OVERVIEW OF VIETNAM JOINT STOCK COMMERCIAL. .. COMMERCIAL BANK FOR INDUSTRY AND TRADE -THANH XUAN BRANCH 21 2.1.1 History of establishment and development of Vietnam Joint Stock Commercial Bank for Industry and Trade – Thanh Xuan Branch