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INTERNATIONAL RELATIONSHIP ACTIVITIES BIDV’s international relationship activities have made vigorous stride of development during the past years. The Bank has boosted a wide range of correspondent relationships with financial institutions worldwide, broadening cooperation network, diversifying products and services, bringing about greater earnings, enhancing BIDV’s reputation, and most notably paving the way for the Bank’s integration. Starting almost from scratch in the early 1990s, BIDV has step by step built up and expanded relationship with international banks and financial institutions following the objectives of efficiency, practicability, mutual respect and development. By Apr 15th 2005, BIDV had established correspondent relationship with over 800 banks and bank branches worldwide. Correspondent relationship covers from deposit to payment, credit, guarantee and training, etc. In recent years, turnover of international payment, foreign exchange and mandate loans have risen constantly. Based on the existing correspondent banking relationship, BIDV has enhanced the intensive cooperation with foreign banks as well as their branches in Vietnam in all aspects such as deposit, international payment, trade finance, foreign exchange, co-finance, guarantee, cash collection, cheque payment, training support, information exchange, etc. In line with strengthening correspondent banking cooperation, BIDV has actively joined international bank organizations and associations. BIDV is now a member of Asian Bankers Association (ABA), ASEAN Bankers Association, and Member of the Board of Directors of Association of Development Financing Institutions in Asia and the Pacific (ADFIAP). Notably, BIDV was granted ADFIAP 2004 Award for development finance led-poverty reduction achievements, ADFIAP 2005 Award for SME development and local economic development. These all have contributed to improving BIDV’s position and reputation all over the world. BIDV is now popular as a large bank that operates efficiently and securely in Vietnam. The Bank has been selected to be the co-financing and agent bank for projects funded by international organizations and correspondent banks. Foreign exchange is now becoming a BIDV’s key activity and it includes managing foreign currencies for payment, meeting branches’ requirements, managing and investing idle foreign currencies. Foreign exchange trading turnover increases by an average of 30% on a y/ y basis , contributing to the maintenance of capital resource balance for the whole system and raising the proportion of the Bank’s non-credit turnover Guarantee and mandate agency services at the same time are strengthened with tender guarantee, performance bond, payment guarantee, etc. and disbursement agent service for important projects funded by WB, JBIC, IMF, ADB and other bilateral programs. Simultaneously, joint-venture activity of the Bank is recording good performance. VID Public Bank (VPB), during over 10 years of operation, has been recognized as one of the most efficient joint-venture bank in Vietnam. It has now recovered all the invested capital to parent banks. Lao-Viet Bank (LVB), after five years of operation, is considered an effecive joint-venture, contributing to economic, trade and investment relationship consolidation between the two countries. To date, LVB comprises one transaction center and three branches both in Laos and Vietnam. BIDV-QBE Insurance Co., Ltd is making headway, efficiently supports credit activities and contributes to the “package service program” of BIDV. With a view to step by step integrating into regional and international financial and banking community, BIDV has always paid attention to strengthening international relationship, improving service quality and staff’s professional skill, revising and setting up operational procedures, developing technology, thus meeting the demand of business and international practices.
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Overview
