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Banking & Finance

BIDV reviews 20 years

Released at: 17:02, 03/08/2015

BIDV reviews 20 years

Bank looks back over two decades of being a commercial bank at conference in Hanoi.

by Hung Nguyen

The Bank for Investment and Development of Vietnam (BIDV) held a conference on August 1 in Hanoi reviewing the 20 years since it became a commercial bank.

The report presented to the conference noted it had recorded significant results in all business activities over the two decades.

From January 1995 to June 2015 it increased its total assets from VND8.7 trillion ($398.89 million) to VND730 trillion ($33.47 billion), for 85-fold growth, and became one of the two largest banks in the sector.

Mobilized capital increased from VND1.7 trillion ($77.94 million) to VND574 trillion ($25.07 billion), representing an increase of 337-fold.

Credit increased over 100-fold, from VND5.3 trillion ($243 million) to VND535 trillion ($24.52 billion).

Charter capital rose from VND247 billion ($11.32 million) to VND31.48 trillion ($1.44 billion), a 247-fold rise.

The bank’s network has grown from 55 branches in 1995 to 181 now, in addition to 1,000 transaction points.

During the 20 years the bank made about VND12 trillion ($550.2 million) in taxation payments.

As at the end of 2014 BIDV had a return on investment (ROE) ratio of 14.4 per cent, return of assets (ROA) 0.8 per cent, and a capital adequacy ratio of 9 per cent.

It also expanded its business in new markets such as Laos, Cambodia, Myanmar, and Russia, and has been a trusted partner of international financial institutions such as the World Bank and the Asian Development Bank.

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