BIDV Vietnam: Loyalty and companionship

(Baonghean) - Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) is one of the largest state-owned commercial banks in Vietnam. In 2013, BIDV actively and effectively implemented the policies of the Government and the State Bank, flexibly responding to market developments. In particular, over the past 6 years, BIDV has always accompanied Nghe An in the program of meeting investors in early spring - an important event of the province.

DUp to now, BIDV has total assets - reaching 550 trillion VND (equivalent to 27.5 billion USD), up 12% compared to the same period in 2012 and continues to be one of the joint stock commercial banks with the largest total assets in the market. By December 31, 2013, mobilized capital reached 472 trillion VND, of which mobilized capital in market 1 reached 417 trillion VND, up 16% compared to 2012; outstanding credit for the economy reached 391 trillion VND, up 16.7% compared to 2012, bad debt was controlled at 2.3%, pre-tax profit reached 5,233 billion VND, up nearly 21% compared to 2012, reaching 110.8% of the plan assigned by the General Meeting of Shareholders.

In the context of the economy's capital absorption and the entire banking system's ability to provide credit, BIDV's credit growth always ensures the source of capital for lending to customers. This demonstrates BIDV's spirit of sharing with businesses in difficult times to support businesses in recovering production. In addition to the growth of total assets, BIDV is a successful commercial bank in controlling and improving the quality of assets, the quality of loan assets and implementing measures to control bad debt at a low level within limits. In 2013, BIDV completed the issuance of additional shares to existing shareholders with the amount of 510,032,102 shares equivalent to VND 5,100 billion and issued VND 3,150 billion of long-term bonds, meeting the conditions to be included in Tier 2 capital. This is also the 18th consecutive year that BIDV has conducted an international audit, the 8th year being rated by the international credit rating organization Moody's and the 4th year being rated by the international rating organization Standard and Poor's.

Transaction at BIDV Bank Nghe An Branch. Photo: HV

In recent times, BIDV has continued to affirm its pioneering role, an effective tool in implementing monetary policy and major economic policies of the State. It can be seen that in 2013, BIDV has proactively managed lending interest rates. BIDV's credit flows are directed towards priority areas, lending for agricultural and rural development increased by 32.6%, lending to small and medium enterprises increased by 24.8%, export financing increased by 21%, lending to high-tech enterprises increased by 25.5%, while promoting effective credit growth, continuing to support the market, and removing difficulties in production and business for about 800 enterprises. BIDV has also actively and effectively implemented key credit programs with a total committed capital of up to 40 trillion VND. Typically, the implementation of lending for the National Highway 1 expansion program from Hanoi to Can Tho; 4-House cooperation product package in the real estate sector (Bank - Investor - Contractor - Construction Material Supplier) to solve difficulties in capital as well as market supply, implemented since 2012; Housing support loans according to Resolution 02 of the Government, Circular No. 11/2013/TT-NHNN, loans for purchasing rice, agricultural products, loans for aquaculture and especially supporting customers to overcome the consequences of storms No. 10, 11, 15.

One area that BIDV is very interested in is expanding effective cooperation with leading international institutions and promoting domestic investment. BIDV has signed a cooperation agreement with Metlife Insurance Group - the world's No. 1 life insurance group - paving the way for the establishment of BIDV Metlife Insurance Joint Venture Company to do life insurance business; Signing a cooperation agreement with a number of major Japanese banks to cooperate and exploit business opportunities. In particular, a very meaningful activity is coordinating with Nghe An province to annually organize investment promotion activities in Nghe An, or in the Central Coast, Northwest, Central Highlands... to contribute to unleashing the potential of the localities. At the same time, BIDV is the main capital arrangement contact calling on domestic and foreign commercial banks to sponsor priority areas of the locality.

Not only operating effectively, BIDV always fulfills its social responsibility through effective and practical social security programs for the community, which are recognized and highly appreciated by the community. In 2013, BIDV supported nearly 500 billion VND focusing on major national target programs such as healthcare, education, temporary housing elimination and especially emergency disaster relief activities that BIDV has carried out urgently and effectively for the people in the country and the people of Cambodia... To support the poor to celebrate the New Year, BIDV continues to implement the New Year Gift Program of the Year of the Horse with nearly 70,000 Tet gifts with a total value of nearly 22 billion VND. In particular, BIDV has coordinated with the Ministry of Education and Training to organize activities to honor valedictorians and students who won Olympic prizes, and seminars on the cause of educational innovation.

This year marks the 6th year that BIDV has faithfully accompanied Nghe An in the annual investor meeting event. BIDV Nghe An is assigned to be the bridge between the Provincial Organizing Committee, the Department of Planning and Investment, the Investment Promotion Center and the departments at BIDV Headquarters in the preparation, implementation and completion of the annual Investment Promotion Conference held in Nghe An. In order to create smooth, accurate and effective coordination between the organizer and the sponsor, BIDV Nghe An has assigned specific tasks to departments and divisions to regularly monitor progress and promptly report implementation results.

To be able to sign the Cooperation Agreements at the conference, BIDV Nghe An had to search for customers and projects, then invite customers and manage the projects. Many customers and projects signed at the conference were funded and lent by BIDV Nghe An.

Over the years, BIDV Nghe An has achieved great results, which are the inheritance of many generations, the convergence and combination of many objective and subjective factors, including the great contribution of the workforce in the entire branch system. With all the efforts, dynamism, creativity, diligence, responsibility, loyalty and attachment, you have joined the Board of Directors to bring BIDV Nghe An steadily forward on the path of innovation and integration.

Faced with challenges in the domestic and local economies, in 2013, BIDV Nghe An has strived to successfully complete its business plan. Total assets of BIDV Nghe An reached nearly 5,000 billion VND, an increase of 1,000 billion VND compared to the previous year, with a stable growth rate over the years. Capital mobilization at the end of the period reached 33% compared to the previous year. Outstanding loans increased by 19% compared to the beginning of the previous year. Profits grew, business was safe and effective. BIDV's market share was increasingly affirmed in the province and in the region, the material and spiritual life of employees was increasingly stable and improved. In particular, the Branch is very happy and proud because now the female workforce is growing stronger and more mature in both professional capacity and management, gradually affirming its important role in the development of the branch.

In 2013, BIDV Nghe An also actively participated in charity activities: Organizing gift giving for meritorious people; Supporting 750 million VND for poor households in Kim Lien - Nam Dan commune to build houses; Building a vocational training center in Kim Lien commune...

PV