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Banking & Finance

Impressive 3Q for BIDV

Released at: 14:40, 27/10/2015

Impressive 3Q for BIDV

Bank's indicators in particularly good shape over first three quarters of the year.

by Hung Nguyen

The Bank for Investment and Development of Vietnam (BIDV) has released its business results for the first three quarters of the year.

Its total assets remain the highest in the banking sector, valued at VND786 trillion ($35.22 billion), an increase of more than 20 per cent against 2014. Outstanding credit was over VND570 trillion ($25.54 billion), an increase of over 15 per cent compared to earlier in the year.

Its credit share was 12.9 per cent of the total market, 1.3 per cent higher than in 2014, and capital mobilization reached VND625 trillion ($28.01 billion), an increase of 21 per cent against earlier in the year.

Profit before tax in the first three quarters stood at VND5.53 trillion ($247.85 million), 25 per cent higher than in the same period last year. Its bad debt ratio, meanwhile, was managed at less than 2 per cent.

Over the period BIDV actively cooperated with international partners through several memoranda of understanding, for example with Cathay United Bank and ANZ Vietnam.

In November BIDV will organize a number of events overseas, in Russia, Japan, and Taiwan, as well as forums to boost Vietnam’s tourism in Nghe An and Quang Binh provinces.

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