2.1.3.1 Financial services for businesses 28
2.1.3.2 Personal financial services 29
2.2 Current status of international payment activities by documentary credit method at ANZ Vietnam bank 29
2.2.1 Current status of payment for imported goods by documentary credit method at ANZ Vietnam 29
2.2.1.1 Size and number of imported L/C items 29
2.2.1.2 Types of import L/C 32
2.2.1.3 Market situation ANZ participates in import payment by documentary credit method 34
2.2.1.4 Regarding customers paying for imported goods by documentary credit method at bank 36
2.2.2 Current status of export payment activities using documentary credit method at ANZ 37
2.2.2.1 Scale and number of payment items for exported goods under L/C method 37
2.2.2.2 Types of export L/C 39
2.2.2.3 About the export payment market by L/C 40 method
2.2.2.4 Regarding customers paying for exported goods by documentary credit at bank 43
2.3 Evaluation of advantages, disadvantages and causes in international payment activities by documentary credit method at ANZ Bank Vietnam 44
2.3.1 Advantages 44
2.3.2 Disadvantages and causes 46
2.3.2.1 Disadvantages 46
2.3.2.2 Causes 47
a. Subjective causes 47
b. Objective reasons 48
2.4 Survey on customer satisfaction with international payment activities at ANZ Vietnam Bank 49
2.4.1 Survey Overview 49
2.4.1.1 Research subjects 49
2.4.1.2 Research sample 49
2.4.1.3 Survey subjects 49
2.4.1.4 Data collection method 50
2.4.1.5 Scale applied to evaluate survey results 50
2.4.2 Survey results 51
2.4.2.1 Sample description 51
2.4.2.2 Results of customer satisfaction survey on international payment activities at ANZ Vietnam Bank 52
2.4.3 Conclusion 57
CHAPTER 3: PROPOSED SOLUTIONS TO PROMOTE INTERNATIONAL PAYMENT ACTIVITIES BY DOCUMENTARY CREDIT METHOD AT ANZ BANK VIETNAM 58
3.1 Orientation of international payment activities by documentary credit method of ANZ bank in the coming time 59
3.2 Forecast of international payment revenue by documentary credit method at ANZ Vietnam Bank in the coming years 61
3.3 Solution to expand L/C payment activities at ANZ 62
3.3.1 Building marketing solutions to attract customers 62
3.3.2 Human resource development 63
3.3.3 Consulting to overcome customer errors 64
3.3.4 Putting technology into widespread use 66
3.3.5 Increasing foreign currency mobilization 66
3.3.6 Evaluation of solutions 67
3.4 Some recommendations 68
3.4.1 For State macro management agencies 68
3.4.2 For the State Bank. 69
3.4.3 For import-export enterprises: 69
CONCLUSION 71
LIST OF REFERENCES VII
LIST OF SYMBOLS AND ABBREVIATIONS
STT
Abbreviations | Content | |
1 | KTDN | Foreign economics |
2 | Import and Export | Import and export |
3 | International | International Payment |
4 | NH | Bank |
5 | TDCT | Documentary credit |
6 | KH | Client |
7 | NHPH | Issuing Bank |
8 | Ltd. | Limited liability |
9 | UNC | Payment authorization |
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LIST OF ENGLISH LETTERS
STT
English letters | Meaning | |
1 | Remittance | Transfer money |
2 | Collection | Collection |
3 | Letter of Credit (L/C) | Documentary credit |
4 | Account Currency | Computational currency |
5 | Payment Currency | Payment currency |
6 | Remitter | The person requesting the transfer |
7 | Beneficiary | Beneficiary |
8 | Paying Bank | Paying Bank |
9 | Remitting Bank | Bank authorized to transfer money |
10 | Advising Bank | Bank notice |
11 | Confirming Bank | Confirming Bank |
12 | Nominated Bank | Nominated Bank |
13 | Reimbursing Bank | Bank Refund |
14 | Credit number | L/C number |
15 | Date of Issue | L/C issuance date |
16 | Credit limit | L/C amount |
17 | Ship Date | Delivery date |
LIST OF TABLES USED
1. Table 2.1: Labor proportion of ANZ Vietnam bank. 27
2. Table 2.2: Import payment turnover by documentary credit method at ANZ Vietnam bank 30
3. Table 2.3: Import L/C payment ratio at ANZ Vietnam bank over the years 31
4. Table 2.4: Sales and quantity of imported L/C 33
5. Table 2.5: Sales of payment for imported goods using documentary method at ANZ Vietnam bank by market 34
6. Table 2.6: Export payment turnover by documentary credit method at ANZ Bank Vietnam 38
7. Table 2.7: Sales and quantity of export L/Cs by 2 types: sight payment and deferred payment at ANZ Bank Vietnam 40
8. Table 2.8: Export payment turnover by documentary method at ANZ Vietnam bank by market 41
9. Table 2.9: Sample statistics by gender 51
10. Table 2.10: Sample statistics by business type 51
LIST OF CHARTS, GRAPHS, DIAGRAMS, IMAGES
1. Diagram 1.1: L/C method process 13
2. Diagram 2.1: Organizational structure of ANZ Bank Vietnam 25
3. Chart 2.1: Number of employees of ANZ Vietnam Bank over the years 28
4. Chart 2.2: Import L/C payment ratio at ANZ Vietnam bank over the years 32
5. Chart 2.3: Proportion of import payment turnover by documentary credit method of ANZ Vietnam bank by market in 2012 and 2013 35
6. Chart 2.4: Proportion of export payment turnover by documentary credit method of ANZ Vietnam bank by market in 2012 and 2013 41
7. Chart 2.5: Fees for international payment activities using L/C method at ANZ Vietnam bank 45
8. Chart 2.6: Survey results of customers with accounts at ANZ Vietnam Bank 52
9. Chart 2.7: Survey results on customer transaction levels at ANZ Vietnam Bank 52
INTRODUCTION
I. Urgency of the topic
Along with the trend of opening up and integrating with the world economy, economic activities in general and foreign economic activities (KTĐN) in particular are increasingly expanding. The exchange of goods between different countries with increasingly large volumes has required the import-export market (XNK) to be quick and convenient for all parties.
To make international payments easier and simpler, cross-border payment methods have been created, along with international documents and conventions. Specifically, some of the payment methods mentioned here are: Remittance, Collection and Letter of Credit (L/C). Each method has its own advantages and disadvantages. In fact, it can be seen that in the Vietnamese market, up to 80% of international trade transactions are paid by L/C. Why is this? Because of the characteristics of the Vietnamese market, which has just joined the WTO, or because of the advantages that this method brings to both buyers and sellers. Along with that, what role does the bank (NH) play in this method? Commercial banks in Vietnam today have seen the need to develop their international payment activities and through that they want to create advantages over other banks. ANZ Bank Vietnam is no exception. Although it has had quite good investment, the international payment activities of the branch still have many shortcomings that affect the overall results of the branch and the whole system and need to be overcome soon. Therefore, the study of solutions to perfect international payment activities by documentary credit method (TDCT) at ANZ Bank is really necessary. Recognizing the importance, I chose the topic "Solutions to perfect international payment activities by documentary credit method at ANZ Bank Vietnam" as the topic for research.
II. Research objects:
The subject of the graduation thesis is to study the current status of international payment activities by documentary credit method at ANZ Bank Vietnam and propose solutions.
solutions to improve this activity of the bank. Due to time constraints, practical knowledge and current limited capabilities, this topic will specifically introduce an overview of international payment activities, about ANZ Vietnam Bank, about the bank's L/C payment activities and finally propose solutions to improve this activity in the near future.
III. Research tasks and scope
1. Research tasks
The research task of the graduation thesis is to find a solution to improve international payment activities by L/C method of ANZ Vietnam. The thesis is carried out within the scope of ANZ Vietnam bank's operations, with a payment method of documentary credit in both export and import activities.
2. Scope of research
The thesis studies the current status of international payment activities by documentary credit method of ANZ Vietnam bank in the period from 2010 - 2013.
IV. Research methods
To complete the topic well, based on the knowledge acquired at school, the thesis uses the following method:
1. Qualitative method:
- Collect actual data from business performance reports at ANZ Vietnam Bank.
- Method of comparing and contrasting data over the years to synthesize, analyze and evaluate
price.
- Refer to books, specialized magazines, internet, previous course topics.
2. Quantitative method:
- Observe international payment activities, consult staff at ANZ Vietnam bank.
- Customer opinion survey.
- Use Microsoft Excel software to process data.