International Payment in Haiduong Agribank

Table of Contents Introduction International payment, which has been developed on the basis of commercial banks, is the last step in the process of trading of goods and services among international subjects, in which banks are payment intermediaries Globalization in the modern time has attached greater importance to international payment Commercial banks in Vietnam have recently made efforts to improve and perfect international payment operations, satisfying the economic demand and increasing their own profits and competitiveness Acknowledging that international payment operations are crucial to the understanding of external economics major, I decided to study and gain more insights into this field in Agribank in my hometown I would like to thank Ms Pham Thi Mai Khanh for guiding me in the orientation of the topic “International Payment in Haiduong Agribank”, and Mr Nguyen Dang Hung, the vice head of Forex and Trading department for instructing me to complete my topic International Payment activities in Haiduong Agribank encompass remittances, collection, and L/C payment However, based on the contribution of businesses to international payment in the branch, I am going to analyze remittances and L/C payment from 2011 to 2013 with three main contents I Overview about Haiduong Agribank II International payment in Haiduong Agribank III Assessment and recommendations I Overview about Haiduong Agribank History and development progress The banking system of Agriculture and Rural Development of Vietnam (Agribank Vietnam) was established under Decree 53 / HĐBT Council of Ministers on March 26, 1988 The bank was originally named Vietnam Agricultural Development Bank and switched to Agribank in 1996 Up to now, Agribank has the largest network of branches in the banking system of Vietnam Along with the introduction of the system, branch Hai Duong was founded under decision No 57 / NH-QD on January 7, 1988 The headquarter is located in No Le Thanh Nghi street, Haiduong city In the Agribank network, Haiduong Agribank is considered branch type I It consists of headquarter, and 11 district branches Type III Personnel structure As regards the headquarter’s personnel structure, the following diagram is to be identified = Operations and business 3.1 Raising capital In general, the amount of capital mobiled in the branch increased steadily in recent years This amount grew between 2011 and 2013, which has been triggered by the continuous efforts of Agribank Hai Duong in adopting measures to attract sources of capital, ranging from various sources of savings (bonds, term savings from to 24 months, weekly savings, installment savings) to the enhancement of advertising and marketing, offering more competitive interest rates to customers The rise in capital simultaneously demonstrates the customers’ creditability for the bank Table 1: The structure of capital in Haiduong Agribank from 2011 to 2013 Unit: Billion VND Seq Indicators I Mobilization targets 1/ 2/ 3/ 2011 2012 2013 Residential remittances 2.804,0 3.431,8 4.251,0 Economic organization remittances 559,5 654,8 436,0 5,4 2,9 4,0 Credit institution and other remittances II Periodical 1/ Non-periodical 423,4 510,8 467,0 2/ Less than 12 months 1.673,6 2.653,9 3.691,0 3/ More than or equal to 12 months 1.271,9 924,8 533,0 III Currency 1/ Domestic currency 2.754,4 3.391,7 4.098,0 2/ Transferred foreign currency 614,4 697,8 593,0 IV Local capital 3.368,8 4.089,5 4.691,0 V Growth rate (%) 11,6 21,4 14,7 (Sources: Báo cáo tổng kết năm 2011, 2012, 2013) 3.2 Crediting It is essential for the bank to effectively utilize its capital source for safety, high interest and economic growth Of all the bank-related businesses partaking in the use of capital, crediting has a crucial role to play Haiduong Agribank’s crediting business encompasses lending, guarantee and discount, and lending is the most important As can be seen from the table below, total loans rose during years mentioned Table 2: Credit activities in Haiduong Agribank from 2011 to 2013 Unit: Billion VND TT Indicators 2012 2013 2014 I Credit turnover 4.812,5 5.126,3 7.998 Short - term 3.452,7 3.970,2 4.863 Middle/Long – term 1.359,8 1.156,1 3.135 4.313,2 4.384,6 7.050 II Debt turnover collection Short – term 2.986,2 3.414,2 4.769 Middle/Long – term 1.327 970,4 2.281 Total loans 4.063,3 4.805 5.753 Short – term 2.289,5 2.845,5 3.755 Middle/Long – term 1.773,8 1.959,5 1.998 Growth rate(%) 42,8 19,7 IV 153 127,2 109 2,59 3,77 1.89 III Bad debt Rate/ Total loans (%) (Sources: Báo cáo tổng kết năm 2011, 2012, 2013) As can be seen from the table, total loans rose during years mentioned 3.3 Other services Together with traditional operations, Hai Duong Agribank was successful in other businesses such as forex trading, guarantee and international payment, opening account, supplying domestic and international means of payment, collection, cash collection and issuing 3.4 Achievements Table : Business activities in Haiduong Agribank from 2011 to 2013 Unit: Billion VND Indicators 2011 2012 2013 Turnover 549 856.1 1.377 Total expenditure (tax included) 595 775.8 1.213 Pretax profit -11 126.7 164 1,303 1,498 Salary level (Sources: Báo cáo tổng kết năm 2011, 2012, 2013) Results of business activities in Haiduong Agribank is a combination of foreign currency trading, guarantee and international payment, opening accounts, domestic and international payment services, collection Based on the table, total revenue increased from 549 billion VND in 2011 to 1.377 billion VND in 2013, in which crediting always accounted for the largest part The second striking feature is the rise in the total expenditure with the dominant share of interest payment II International Payment in Haiduong Agribank Forex and Trading Department structure International payment operations in Haiduong Agribank are conducted in Forex and Trading Department The structure of the department is demonstrated as follows Factors affecting international payment in Haiduong Agribank 2.1 Objective The first indifferent effect on international payment in Haiduong Agribank is Vietnam economic situation which is created by the level of economic growth, individual involvement in market activities and production potential Should the economy be stable, the bank can focus on developing new products and services, expanding operational scale worldwide and offering higher-quality payment services Another determinant is the political climate A stable political regime will put the economy including international trade activities at an advantage, which will increase the demand for import and export payment and vice versa Moreover, the legal environment must be taken into account Commercial banks’ international payment activities are influenced by both domestic mechanism, policies, law and international standards and practices One direct policy affecting import and export payment is the rate policy Since it is the State Bank’s responsibility to manipulate monetary policy, it can use rate as a tool to encourage export or limit import The payment of these activities which has been done through commercial banks surely influences international payment activities Last but not least, customers are attached great importance in the success of international payment operations These customers who are import and export enterprises or hold partnership with foreign traders should have a certain understanding of foreign trade, foreign languages and international law Attracting customers with high financial capability, tremendous experience will allow for more efficient transactions and restrict the risks for both the bank and customers 2.2 Subjective Operational scale of the bank is the first factor to be mentioned In terms of capital, a tiny amount of capital will not ensure the timely payment for customers and modern technology and programmes for efficient and quick transactions Regarding human resources, a lack of tellers will reduce the safety and efficiency of payment Secondly, business strategies will decide the quality of services offered If the bank only takes care of traditional activities without services including international payment, investment in technology and human resources will be neglected, resulting in poor competitiveness One determining factor is the bank workers in charge of international payment Tellers in international payment activities are advised to have a good command of foreign trade activities, transport, insurance, customs, import and export policies so that they can consult customers in signing contracts, solving potential problems during the payment process and offer speedy and accurate transactions Fourthly, customer segmentation policies must be explicitly defined Important customers who regularly use services must be provided with privileges and special care Last but not least, other supporting activities such as currency trading, guarantee and import and export financing contribute greatly to the quality of international payment Customers will be satisfied if their demand for currency for the trading of their products are met with speed, simple procedures and acceptable rate In the event that customers have signed the contract without sufficient capital to manufacture products and are required by their partner to offer transaction payment guarantee, assistance from the bank through import and export financing will help customers to ensure timely transactions with low fees Remittances and L/C payment 3.1 Broad procedures for both remittance and L/C payment Remittances and L/C payment are two most core international payment operations in Haiduong Agribank I am going to anaylise how these two businesses have been influenced by the mentioned factors, the situation, weaknesses and recommendations to improve the quality of these two services All types of transactions in the Forex and Trading department in Haiduong Agribank are carried out under the following procedure There are some notes for both types of international payment in Haiduong Agribank As regards remittance, transferring money from foreign countries to people in Vietnam for personal purposes and TTR remittances are the two core contributors In the overseas national currency transfer, after customers present the appropriate documents (valid identity card, sum-related information such as code, amount and account number) and fill in the declaration form of the bank, tellers must base on a benchmark to determine whether customers can be given the sum of money This benchmark is a certain amount which is determined by the capacity and experience of tellers and public among tellers of the department If the sum of money required by customers exceeds the benchmark, it is compulsory for the teller to announce the supervisor (the vice head in this department in Haiduong Agribank) and ask for permission to offer the sum Overseas national currency transfer accounts for 40% of Haiduong market share This largest share has been the result of a big network with 35 premises of Agribank around Haiduong province (of all the international payment services, district branches are only allowed to perform individual remittances) Various remittance channels are another factor, which cover account remittance, identity card remittance, Western Union remittance (10 codes), 14 codes from Taiwan, 10 codes from Korea, 16 codes from Malaysia, 16 codes from Korea The last four kinds of remittance are only applied in Haiduong Agribank TTR remittances, which are exclusively for enterprises, encompass import TTR remittances and export TTR remittances Import TTR remittances request customers to have Agribank account, remittance order, commercial contract, foreign currency trading contract for prepaid payment, and other documents added such as commercial bill, B/L and CO for postpaid payment Export TTR remittance must be accompanied by MT 103 order In terms of L/C payment, take import L/C payment procedures for example Applicant (5) Beneficiary 10 (1) (8) (10) (4) (6) (2) Haiduong Agribank (Issuing Bank) (9) Advising (3) bank (7) Specifically, (1) Applicant and Beneficiary sign a commercial contract clarifying the term of L/C payment (2) Applicant requests Haiduong Agribank to open L/C In this step, the applicant must present the source of payment to the bank, which are either lending capital from the bank (which is the most popular type of payment source in Haiduong Agribank) or his own capital (3) Haiduong Agribank sends MT 700 order (a special telegraphic) to the Advising Bank to issue L/C (4) Advising Bank announces Beneficiary about the L/C (5) Beneficiary delivers goods to the Applicant and make documents such as bill, B/L (6) Beneficiary sends documents to the Advising Bank to be checked (7) If the documents are compliant, Advising Bank sends them to Haiduong Agribank and claim the sum of money (8) Haiduong Agribank announces Applicant about the L/C (9) Haiduong Agribank transfers money to Exporting Bank (10) Exporting Bank transfers money to Beneficiary 3.2 Current situation for remittance and L/C 3.2.1 Remittance The turnover from remittance transactions from foreign countries accounted for the largest part in international payment operation and it rose during the period 11 mentioned There were 258, 352, 567 transactions in 2011, 2012, 2013 respectively, and the turnover was 8.13, 11.93 and 23.62 million USD The growth in the number of transactions and amount of turnover was caused by the operation of the large network of branches and transaction offices in Haiduong province Moreover, Haiduong has the biggest number of citizens working abroad (from around 11.000 to 15.000 people), as a result, the amount of money remitted from foreign countries through channels mentioned above rose over the years One important reason is the foreign currency loan relationship established in 2010 between the bank and Vạn Đạt Limited Liability Company This has increased the amount of money transferred from foreign countries through foreign currency gained by exporting activities Table 4: The turnover of remittances in Haiduong Agribank from 2010 to 2013 Unit: Million USD 2011 Year Transactio 2012 2013 Turnover Trans Turnover Trans Turnover 258 8,13 352 11,93 567 23,62 27.139 32,89 29.668 38,47 34.409 43,49 ns Remittances to foreign countries Remittances into Vietnam (Sources: Báo cáo kết KDNT TTQT năm 2011-2013) Meanwhile, the number of sales and transfers of money to foreign corporations simultaneously grew from 2011 to 2013, which reflected the efforts of branch in attracting customers for international payment Specifically, customers of Haiduong Agribank were mostly consulting firms in studying abroad The number of transactions and amount of turnover of transferring money to Japan were half of the annual total transactions and turnover to foreign countries 3.2.2 L/C payment 12 Most international payment transactions at the branches are related to L/C The turnover from opening and payment of L/C at sight decreased over the years from 2011 to 2013 This variability was the result of the struggling economy in the end of 2010, when businesses had payment relationship with Haiduong Agribank such as ANT Ltd Co specialized in the import of raw materials for animal, Dong Hai Plastics Ltd.Co, Lam Phuc plastic company had to reduce the size of production and import turnover to restore production This reduced the turnover from payment by import L / C in Agribank Hai Duong However, turnover from opening and payment of deferred import L / C of branches increased over the years mentioned This growth proved the creditability of foreign banks for Hai Duong Agribank, because in this type of L / C payment, reputation and financial capability of the issuing bank have a crucial role to play The turnover from opening and payment of export L/C experienced an impressive growth This was triggered by the payment relationship of the bank with Tadlack Production Company which specializes in exporting high quality wooden armchairs to France or Belgium Moreover, some export companies changed the method of payment from collection to L/C, which not only insured the safety of exporters but also raised the sales of export L/C from Haiduong Agribank Thanks to endeavors in both businesses and Marketing activities, most export customers have used the export L/C services of the branch such as notice of L/C, checking export documents and supervising transactions Table 5: Turnover of L/C payment in Haiduong Agribank from 2011 to 2013 Unit: Million USD 2011 Year 2012 2013 Transac Turnov Transac Turnove Transac Turnov tions er tions r tions er 214 38,14 205 37,67 197 28,12 Import L/C Opened at sight L/C 13 2011 Year 2012 2013 Transac Turnov Transac Turnove Transac Turnov tions er tions r tions er 214 38,14 205 37,67 197 28,12 19 8,75 34 8,97 42 9,54 19 8,75 34 8,97 42 9,54 Notice 13 1,59 49 3,45 65 4,31 Claim 13 1,59 49 3,45 65 4,31 L/C paid at sight Opened L/C deferred Paid L/C deferred Export L/C (Sources: Báo cáo kết KDNT TTQT năm 2011 - 2013) 3.3 Achievements The first achievement of Haiduong Agribank in international payment during this period was its affirmed prestige This business in the bank mainly focused on transferring money from foreign countries into Vietnam The branch was ranked by Vietnam Agribank as having the highest turnover of payment from remittance from foreign countries in 2009, this position remained in 2010 and 2011 More impressively, the branch had its tellers in high-turnover premises financed to gain more insights into international payment in Malaysia and Singapore by Western Union Considering L/C payment, not only was the branch successful in completing transactions for customers but it was also popular for offering the consultation in opening the documents complying with terms and conditions of the L/C Thanks to this, there was a rise in the turnover of export L/C in the bank As regards external relations, Haiduong Agribank had partnership with BIDV in some financing projects of international payment 14 Table 6: Projects by Haiduong Agribank and Haiduong BIDV Company Project Investment Amount Hoang Thach cement Construction of Assemble 300 billion (VND and Euro) company Development Cultivation and Processing of iron 40 billion (VND and USD) company ore International payment at the same time contributed to the development of other businesses of the bank, and resultantly satisfied customers’ demand Since most customers undergoing TTR transactions in Agribank are to borrow capital from the bank, the need for borrowing both domestic and international currency to make payment was directly boosted Additionally, customers’ maintaining balances in their account offered opportunities for capital mobilization and international payment A statistics has depicted that 70% of regular customers using international payment services have capital - borrowing relationship with the bank Import customers have a larger part, because of this, it is difficult for them to self-balance their source of foreign currency Improvement in international payment services put a rise to the trading of foreign currency, developing the latter business in the branch The demand for foreign currency and international payment of import and export businesses in Haiduong was met by the bank One explanation for the rising need for foreign currency and international payment lay in the large number of Haiduong industrial zones, multinational companies and foreign corporations There was a great discrepancy in the rate in the branch and in the market, while the saling rate of the bank remained constant at 19,500 VND/USD, that of the free market grew to 20.990 VND/USF (Foreign currency of import companies was in much demand, causing its price to rise) Improvement in international payment has also helped to develop the quality of tellers in Forex and Trading Department Through dealing with various types of transactions and customers, tellers have become more experienced in approaching 15 information, combining their understanding of English, foreign trade and economics, customs The tellers have been good at choosing the right payment method, terms and conditions of commercial contracts to protect the rights of customers This further has enhanced the customers’ trust with services at the bank, which has given Haiduong Agribank a competitive advantage III Assessments and recommendations Assessment 1.1 Drawbacks The first restriction of international payment business in Haiduong Agribank is the much smaller sales of payment for export than import Coming into existence at a later time than other banks such as Vietcombank, Viettinbank and other foreign banks, international payment operations in Haiduong Agribank had to experience harsh competition Revenue of international payment is mostly gained from remittances, especially transferring cash from foreign individuals Although turnover from L/C payment grew from 2011 to 2013, it was still inferior to other banks in Haiduong province The inequality between export and import has led to Haiduong Agribank’s occasional difficulty in balancing foreign currency for import customers Another negative point of this business is the disparity in the experience and profession of tellers This has provoked the dissimilarity in the methodology and speed of working with transactions Complex transactions could be only conducted by one or two people (mostly Mr Nguyen Dang Hung – Vice Head and Ms Cao Thi Thanh Hao) Last but not least, there has been a slow increase in the number of customers and inappropriateness in customer structure The branch has built firm relationship with 60 regular customers The low speed of yearly rise in customers has indicated the inefficiency in Marketing and customer policies Table 7: Structure of international payment customers in Haiduong Agribank 16 2011 International Year Payment Turnover Vạn 2012 2013 International International International Turnover Fee Payment International Turnover International Fee Fee Đạt Limited 0% 0% 17% 16% 21% 18% 0% 0% 8% 15% 12% 22% 27% 32% 28% 35% 20% 27% 14% 18% 10% 7% 5% 6% 8% 12% 2% 3% 3% 2% Company Tadlack Production Limted Company ANT Limited Company Lâm Phúc Plastic Company MTV Nhựa Đông Hải Limited Company (Sources: Báo cáo kết KDNT TTQT năm 2011-2013) The customer structure mainly focused on those holding credit relationship with the bank (who accounts for 70% of the total number of customers in international payment As a consequence, international payment businesses are highly dependent on credit operations Furthermore, only a few big customers play a large part in the turnover and fee of international payment A change in the operations of these companies such as contracting scale or transferring to other banks will negatively affect the revenue of businesses and international payment in particular 1.2 Reasons 17 1.2.1 Objective The first objective reason is the constantly changing macroeconomic policies International payment services are closely associated with import and export, customs and tariffs mechanism There is no doubt that an alteration in these mechanisms will affect international payment activities For example, the introduction of Circular 20 has tightened the terms and conditions of clearance for import enterprises This has made a large number of Haiduong Agribank’s customers who import cars from Korea change the trading tendency of domestically delegated import enterprises, reducing the number of transacrions and turnover in the bank In another case of the consequence of Circular 20, being unable to make clearances to receive goods after making prepaid payment caused a company’s capital to be stuck in a foreign country Another cause is the poor knowledge of import and export enterprises Negligence of international law has triggered frauds in the transactions of enterprises Meanwhile, the financial potential of some are weak and their business activities are highly dependent on loans from Haiduong bank As a result, the loss of these companies will have a negative effect on the quality of credit and international payment operations Additionally, foreign currency market has not fully developed and exchange rates are constantly fluctuating All of the foreign currency markets in Vietnam are preliminary interbank markets, so derivatives for foreign currency businesses have not been in widespread use Moreover, boomed black markets have worsened the rate stability and supply source of foreign currency for international payment operations, especially in the peak time of rate variability and intensive payment transactions at the end of a year In the meantime, most customers in Haiduong Agribank use import operations, and only a few of them are able to balance foreign currency source 1.2.2 Subjective To begin with, Marketing services and customer strategy have not been efficiently invested in There is unavoidable competitiveness between Haiduong Agribank and other banks in offering products and services of international payment Meanwhile, marketing activities have not been systematically implemented with the 18 cooperation among departments Incentives to promote customers’ use of services and active access to customers to enlarge customer network have been disregarded Furthermore, credit and international payment incentives have merely been applied to a certain number of customers Another one-sided reason is the limited system of the branch’s correspondent banks and Nostro account It is undeniable that correspondent banks play an important role in increasing money transfer speed and saving intermediate bank’s fee Currently, Vietnam Agribank has had agency relationship with 40 domestic and 958 international banks Besides, it has opened Nostro account in 50 banks, in which 11 banks keep the account in Euro, 14 in USD, in JPY, in GBP and 19 in other currencies Because the Nostro account network of Agribank is restricted, money transfer occasionally has to be done thorough one or some intermediate banks, which costs customers more time and fees This has undermined the competitiveness of Vietnam Agribank, and Haiduong branch in particular Recommendations It is necessary to improve both specialized knowledge and adequate training of tellers More intensive international payment – related classes and seminars should be organized so that tellers could exchange experience and understanding of their specialized operations with each other Besides specialized knowledge, training of transportation, insurance, customs, tax and tariffs, foreign languages and practices must be paid attention to Simultaneously, a consulting team should be built so that experienced and highly capable tellers could join in negotiating and signing commercial contracts to help customers choose the best terms of payment Moreover, tellers are advised to be trained in the code of conduct, specifically their style and attitude during transactions, which will maintain customers’ creditability with services at the branch Each teller should be active in seeking and attracting their own customers To have more excellent tellers, the branch must be careful in selection and recruitment, it will be better if these tellers have a certain command of foreign language and foreign trade, and the bank 19 It is recommended that technology in the bank be updated Data and information system which include external information (business environment, policies of the state bank), internal information (regulations, policies, data and business statistics of the branch), customers-related information (financial situation, non-financial information collected from communication, interview, survey and study of customers’ premises) must be upgraded More bank applications, such as wellrounded security system, remote assistance system must be developed and put into practice It is recommended that Marketing activities be enhanced More kinds of promotion and advertising should be applied, traditional types such as advertisements on the radio, TV should be expanded to the Internet, mobile phones, issuing leaflets The bank should include more consumption programmes such as promotion, discount on payment fee It is vital for periodical reports to be issued for customers so that they can keep track of the branch operations Customers conferences should be established for tellers to understand the expectations and demands of customers, and for traditional customers to be honoured Taking more care of correspondent banks is another recommendation There should be assessment of correspondent banks to have clear orientation about the way to cooperate with them in each market and area The network of agent banks should be expanded to creditable and appropriate foreign banks, which requires the branch to increase its scale in the international market to create its own prestige This expansion is useful for low penetrating fee, reliable information and consultation of these foreign banks about foreign customers, credit, L/C and payment benchmark More agreements about package fee should be signed with foreign banks For example, OUR at $16 has been confirmed between Agribank and Citibank Vietnam Agribank has successfully signed with ICBC bank in China and Korea Exchange Bank in Korea about telegraphic transfer Customers – orientated policies must be of great concern It is advisable for the branch to offer periodical customer classification Priority customers should include state companies, state enterprises in the field of oil, navigation, postage and telecommunication These customers should have lower service fees, however, this 20 must ensure the general operations of the bank Other foreign capital enterprises should be covered in the important group, and preferential fees and free consultation can be offered to them The remaining group encompasses social organizations and individuals This flexible fee policy must guarantee the connection between credit, deposit operations and other services The branch should at the same time pay attention to accessing and maintaining relationships with customers Newly established customers, especially those who are considering among financial institutions must be supplied with sufficient understanding about the branch’s services and encouraged to have transactions in the branch Improving the quality of services such as increasing the speed of transactions, dealing with complaints timely and offering online transactions could help to boost the image of the branch Diary Truth to be told, I gained more knowledge and practical experience during the time I spent in Haiduong Agribank It was fortunate for me to be welcomed in the first day of my internship in Forex and Trading Department All of the people in the department 21 were friendly to me For the first days, the Vice Head – Mr Nguyen Dang Hung told me to spend some time subtly strolling around to identify the location of departments in the bank and the departments of Vice Directors, and reminded me to learn the fields that each Vice Director is in charge of He later explained to me that this was meant to help me understand the overall structure and fields of operations of the bank In the next days, he told me to read more materials of international payment activities to have a broad idea of this field, and I was requested to some chores like cleaning the floor, washing the cups in these days In the following week, I was instructed in turn by three tellers about each international payment operation in Haiduong Agribank (they spent 20 minutes with me each day ) and told me to compare what they taught me in practical with what I had read before In the last days, as well as doing some chores, I was told to observe transactions in the department Mr Hung provided me with the data of the bank and gave me some advice over the way I outlined and wrote my report References Annual report, Haiduong Agribank, 2011-2013 International Payment and foreign currency trading report, Haiduong Agribank, 2011 – 2013 “Ngân hàng thương mại”, 2006, Phan Thi Thu Ha, Hanoi “Giáo trình Tín dụng tốn thương mại quốc tế”, 2008, Trần Văn Hòe, Hanoi “Thanh tốn quốc tế tài trợ ngoại thương”, 2005, Nguyen Van Tien, Hanoi “Cẩm nang Thanh toán Quốc tế L/C’’, 2007, Nguyen Van Tien, Hanoi 22 ‘Giáo trình kỹ thuật nghiệp vụ giao dịch ngoại thương’’, 2006, Vũ Hữu Tửu “Các phương thức tốn quốc tế nhìn góc độ lợi ích rủi ro nhà xuất nhà nhập khẩu”, December 3, 2009 http://www.baomoi.com/Cac-phuong-thuc-thanh-toan-quoc-te-nhin-duoi-gocdo-loi-ich-va-rui-ro-doi-voi-nha-xuat-khau-hoac-nha-nhapkhau/126/3575379.epi 23 ... dominant share of interest payment II International Payment in Haiduong Agribank Forex and Trading Department structure International payment operations in Haiduong Agribank are conducted in. .. Results of business activities in Haiduong Agribank is a combination of foreign currency trading, guarantee and international payment, opening accounts, domestic and international payment services,... International Payment in Haiduong Agribank , and Mr Nguyen Dang Hung, the vice head of Forex and Trading department for instructing me to complete my topic International Payment activities in