BIDV: Continue to affirm its position as a leading bank

Overcoming difficulties, sustainable, effective

Some highlights of BIDV's operations in 2018 include: Maintaining stable growth in scale, maintaining its position in the market; Promoting the transformation of asset and capital structure towards increasing the scale of profitable assets, improving sustainability and efficiency; Strictly controlling credit quality.

BIDV also improved asset quality, promoted recovery and bad debt settlement in accordance with Resolution No. 42 of the National Assembly and Decision No. 1058 of the Prime Minister; Revenue-expenditure gap achieved the best results ever, shifting income structure towards increasing sustainability...

BIDV received the Outstanding Retail Bank Award in 2019. Photo by Hoai An

In addition, as a member of the stock market, BIDV's stock price increased by 27.4% compared to the beginning of the year; maintained growth even in volatile periods, liquidity at a high level with an average trading volume of 2.7 million shares/session.

By the end of 2018, the ownership ratio of foreign investors accounted for 3.1%; the price-to-earnings ratio per share was among the top 5 banks with the largest market capitalization,... this reflects investors' positive expectations for BIDV's development potential.

Goals and key tasks in 2019

In 2019, BIDV set out the operating motto as "Discipline - Responsibility - Efficiency - Breakthrough".

BIDV builds an action program with the determination to well implement the mission plan and business plan for 2019 with main targets such as: credit and capital mobilization growth of 14%; net service revenue reaching 6,300 billion VND; total off-balance sheet debt collection and debt sold to VAMC reaching 6,000 - 6,500 billion VND, bad debt ratio controlled under 2%, revenue - expenditure difference reaching 30,000 billion VND, pre-tax profit of the bank alone reaching 10,000 billion VND, consolidated profit reaching 10,500 billion VND...

Transactions at BIDV Bank

To successfully achieve the above goals, BIDV determined to focus on overcoming limitations in asset quality and financial capacity; at the same time, continue to adhere to the set strategic orientation and restructuring goals,... creating key foundations for sustainable development and international integration.

Accordingly, BIDV sets out key tasks to be implemented in 2019.

The first,Prioritize the development of a comprehensive digital banking strategy to keep up with the trend of the 4.0 industrial revolution; focusing on accelerating the implementation of the Project to establish a Digital Banking Center.

Monday,Enhance financial capacity with a focus on increasing charter capital from strategic sales, striving to increase equity capital, ensuring capital adequacy ratio according to Basel II standards and meeting requirements according to the roadmap specified in Circular 41.

Tuesday,Focus on building, promulgating and implementing BIDV's Development Strategy; Development strategy for the retail customer segment until 2025, with a vision to 2030.

Wednesday,Maintain growth in scale associated with quality, consolidate leading position in key market segments; at the same time improve asset quality, especially credit quality.

Thursday,Promote non-interest income sources in accordance with the direction of the Service Development Project; effectively implement the Cashless Payment Project for the period 2016 - 2020 according to the direction of the State Bank, increase sustainable customer base through product and service quality and customer service methods.

The Asian Development Bank (ADB) and the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) have just signed a credit contract worth 300 million USD to support the development and business performance of small and medium enterprises (SMEs) in Vietnam.

Friday,comprehensive restructuring of investment activities.

Saturday,Increase cost efficiency, balance financial capacity to reduce lending interest rates to support businesses, and control asset investment through a fixed asset investment plan that is appropriate to the orientation.

Eighth,Improve governance capacity, develop internal institutions, mechanisms and policies; complete and upgrade the risk management system according to the Basel II application roadmap at BIDV.

Ninth,perfecting the human resource system at all levels, implementing the structure and arrangement of labor to ensure democracy, objectivity, and transparency, according to the roadmap of the BIDV Talent Management Project.

Tenth,thoroughly grasp the contents of Directive 07 of the State Bank to avoid errors and violations; increase compliance with discipline and operational discipline and improve the quality and effectiveness of internal inspection, supervision and audit work.

Eleven,Continue to expand and improve the operational efficiency of traditional and modern network points; promote the key role of transaction offices.

Twelve,Build and deploy brand development strategies associated with corporate culture practices and creative learning movements throughout the system.

BIDV MetLife affirms its position as a life insurance company that always strives for innovation.

In addition, BIDV will also enhance the leadership role of Party committees at all levels, promptly arrange and perfect the Party organization model according to the regulations of the Politburo and the guidance of the Central Organizing Committee; organizations and unions will focus on launching emulation movements to successfully complete assigned political tasks...

In 2018, BIDV continued to receive many domestic and international awards, and was upgraded by credit rating organizations; Top 15 companies with the largest brand value in Vietnam (according to Forbes Vietnam); Top 2,000 largest and most powerful public companies in the world (according to Forbes); Top "500 most valuable banking brands in the world in 2018" (according to Brand Finance); identified by the Asian Development Bank (ADB) as a leading partner in Vietnam.