BIDV Nghe An: 60 years of development companionship

(Baonghean) - In the historic days of May, the Nghe An Branch of the Joint Stock Commercial Bank for Investment and Development, a member of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), joyfully celebrates its 60th anniversary (May 27, 1957 - May 27, 2017). Proud to be born in the land of talented people, over the past 60 years, BIDV Nghe An has been associated with the arduous and heroic history of the Soviet homeland of Nghe Tinh, accompanying and developing with many brilliant milestones.

Glorious history

On May 27, 1957, Nghe An Construction Bank was established under the Vietnam Construction Bank, a specialized bank that was established first, just after the State Bank of Vietnam. With revolutionary enthusiasm and passion for the profession, the entrepreneurial class at that time both built up forces and allocated budget investment capital for projects to heal war wounds and restore production, creating momentum for the first 5-year plan.

Headquarters of BIDV Bank, Nghe An Branch. Photo: PV

In the early 1960s, the North was in a heroic atmosphere of competition to implement the first 5-year plan when on August 5, 1964, the US imperialists launched an extremely cruel war of destruction. Vinh city and many other localities of Nghe An province were almost leveled. As a unit on the front line, Nghe An Construction Branch had to evacuate to preserve human resources and assets, while carrying out the task of allocating capital to key points of transporting weapons and sending troops to the battlefield, ensuring smooth traffic by road, waterway, and railway.

When the country was unified, Nghe An merged with Ha Tinh to form Nghe Tinh province, so in early 1976, Nghe Tinh Construction Bank Branch was also merged into Nghe An Branch and Ha Tinh Branch. The area is large, the number of basic construction projects is increasing, managing over 200 large and small projects but the branch has always completed its political tasks excellently.

In 1981, the Vietnam Construction Bank was affiliated with the State Bank and changed its name to the Vietnam Investment and Construction Bank. At the same time, the Nghe Tinh Branch of the Investment and Construction Bank was also established.

During the period 1981 - 1990, despite many fluctuations in the industry, with the task of lending and allocating capital for basic construction investment, Nghe Tinh Investment and Construction Bank Branch managed hundreds of projects, many of which have brought great efficiency to the national economy and people's livelihood such as Ben Thuy bridge, National Highway 1A, Thong Nhat railway, Cua Lo port, Ke Go lake, Nghi Xuan pumping station, Northern irrigation system, Hung Nguyen, Nam Dan, Duc Tho, Thach Ha dike systems, Xuan Thanh and Song Hieu farms, electricity systems, power transmission lines...

In the light of the Resolution of the 6th National Party Congress, and especially since the promulgation of the 2 Ordinances on Banking, an atmosphere of innovation has emerged in all activities of the entire system. Vietnam Construction and Investment Bank in general and Nghe Tinh Branch in particular have made new steps, actively integrating more and more deeply.

On November 14, 1990, the Vietnam Construction and Investment Bank was renamed the Vietnam Development and Investment Bank and the branch was also named Nghe Tinh Development and Investment Bank. In addition to continuing to allocate budget capital for projects, the branch also provided long-term loans according to the State plan, and designated loans for construction material factories such as Cau Duoc Cement, 12/9 Cement, 19/5 Cement, Hung Nguyen bricks, Dien Chau bricks... to invest in new farms to plant thousands of hectares of coffee, tea, and rubber, contributing to the development of Western Nghe An.

In early 1995, along with the entire system, BIDV Nghe An officially converted to a commercial business model. During the challenging groundbreaking period from the mechanism of allocating capital for basic construction according to the State's plan to the mechanism of proactively breaking the monoculture and diversifying products and services in business, there were countless memories and pride.

60 years of companionship and development

Inheriting that tradition and pride, BIDV Nghe An continues to affirm its position as a companion and development. As the leading BIDV branch in the area, BIDV Nghe An has made very important contributions to the province, sponsoring and successfully organizing 9 investment promotion conferences from 2009 to 2016, contributing to calling on domestic and foreign enterprises and other capital sources to invest in building and developing the economy and society of Uncle Ho's homeland. Many important and key projects signed at the conferences all have the role of BIDV Nghe An. Large projects invested by BIDV's capital are present every day throughout Nghe An.

Transaction at BIDV Bank, Nghe An Branch. Photo: CL

BIDV Nghe An actively participates in social security work through sponsoring activities to support poor localities, people affected by natural disasters and floods, families of war invalids and martyrs, victims of Agent Orange, and disabled children in difficult circumstances; especially helping poor Ky Son district with 32 billion VND; building many welfare projects in Ho Chi Minh Square, Kim Lien Relic Site, Truong Bon Youth Volunteer Martyrs Monument and many other meaningful projects.

BIDV Nghe An is the original branch in Nghe An, from here it has established additional level I branches, namely Phu Quy Branch and Phu Dien Branch. In addition, Nghe An Branch supported key human resources to establish the North Central Insurance Company and BIDV Thanh Vinh Branch.

With its achievements over the past 60 years, BIDV Nghe An has always been a leading bank in Nghe An province and the North Central region.

The branch currently has over 100,000 customers, accounting for a high market share in credit capital mobilization and services in Nghe An province. BIDV Nghe An's companionship with customers has always been closely linked right from the project preparation, from the start of construction of the foundation. BIDV Nghe An's customers are increasingly diverse and rich with many components and fields of operation, not only in Nghe An but also in a number of provinces and cities in the country. There are many customers who have been loyal to BIDV Nghe An throughout the long journey such as the Traffic Construction Joint Stock Corporation 4, irrigation companies, brick and tile factories, cement factories...; and there are also new customers such as textile corporations, import and export businesses and many businesses, financial institutions, departments, branches, schools, individual customers...

The branch's headquarters and 8 transaction offices are located in the central areas of Vinh city. BIDV Nghe An has partly met the financial - banking - insurance needs of customers in the area and neighboring areas. Branch leaders always pay attention to promoting investment in infrastructure systems, brand promotion to ensure long-term stable operations of units, creating direct commercial advantages in business. With spacious facilities; synchronous and modern equipment; professional and dynamic staff; BIDV Nghe An's goal is to advise and provide customers with modern, convenient and high-quality financial and banking services. In addition to traditional products, BIDV Nghe An is the first bank in the area to successfully deploy new modern products and services such as: electronic tax payment service, online electricity bill payment for customers...

Proud achievement

Despite the difficult business conditions, BIDV Nghe An still maintains stability and growth; continuously completes and exceeds business targets. From 2013 to present, BIDV Nghe An Branch has become one of the key branches of the system, with annual pre-tax profit growing by over 30%, the material and spiritual life of employees in the branch has been increasingly improved, contributing stably to the state budget. By the end of 2016, total assets reached over 10,000 billion VND, capital mobilization scale reached 8,300 billion VND, outstanding credit reached 9,500 billion VND, credit quality was controlled.

Recognizing and appreciating the activities of BIDV Nghe An, the Party, State and Government have awarded many noble awards to collectives and individuals: Labor Medal, Emulation Flag of the Government, Certificate of Merit of the Governor of the State Bank and of the Provincial People's Committee; Leading flag of the North Central region... The results that BIDV Nghe An has achieved today are not only measurable "assets" but also glorious traditions, unique cultural and spiritual values ​​that have been accumulated, tempered and crystallized through many ups and downs of history; the trust of customers and partners; brand value, recognition and appreciation of government leaders and people in the area.

Attached to the arduous and heroic history of the Soviet homeland of Nghe Tinh, accompanying and developing with the province, from the 9 people who first founded it, to date BIDV Nghe An is the Flagship Branch in the field of finance - banking in the North Central region, a prestigious address, a brand of the BIDV family. Celebrating the 60th anniversary of the establishment of the industry and the branch is to further foster the pride and enthusiasm of the collective generations of the unit, so that more than 170 officers, employees and workers in the Branch continue to accompany and develop with the homeland of Nghe An, affirming the brand "Sharing opportunities, successful cooperation".

Hoang Viet Hung

(Director of BIDV Nghe An)