Bank's business results reveal strong performance across the board.
The Bank for Investment and Development of Vietnam has released its 2015 business results and noted two major achievements: reaching its targets and merging with the Mekong Housing Bank (MHB).
Total assets were more than VND857 trillion ($38.23 billion), an increase of 25 per cent against 2014, charter capital was VND34 trillion ($1.51 billion), total outstanding credit and investment VND799 trillion ($35.64 billion), an increase of 22 per cent, non-performing loans were cut to 1.71 per cent of the total, and retail credit increased 44 per cent, accounting for 22.7 per cent of total credit in 2015.
Total mobilized capital stood at almost VND793 trillion ($35.37 billion), 26 per cent higher, and profit before tax from commercial banking activities was VND7.03 trillion ($313.60 million), an increase of 16 per cent against 2014, while its ROE reached 15 per cent and ROA 0.76 per cent.
Chairman Tran Bac Ha described the results as impressive in all aspects. BIDV also created coordination units with over 1,700 financial institutions in more than 122 countries around the world, and had an official presence in Laos, Cambodia, Myanmar, the Czech Republic, Russia, and Taiwan. It also began 13 connectivity programs to prepare for deeper international integration due to the AEC and the FTAs Vietnam has signed, and been seeking opportunities in Northeast Asia.
In its 2016 plans it has targeted credit growth of 20 per cent, in which retail services growth will increase 35 per cent, bad debts to be kept lower than 3 per cent and efforts made to keep them lower than 2 per cent, mobilized capital to increase 21-22 per cent, and revenue from services to increase 20 per cent.