The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has released its semi-annual financial report for 2021 with business activities continuing to be stable and safe amid the Covid-19 pandemic.

Stable and safe business activities, boosted comprehensive digital transformation

As of 30 June 2021, BIDV’s positive business results were reflected in many aspects: Total consolidated assets reached over VND1.642 quadrillion, up 8.3% compared to the beginning of the year.

Customer deposits and issued valuable papers reached over VND 1.391 quadrillion, up 7.9% compared to the beginning of the year, ensuring the capital efficiency of the whole system. Capital mobilisation saw good growth in almost segments.

Customer loans reached over VND 1.297 quadrillion, an increase of 6.8% compared to the beginning of the year, closely equal to that of the same period in the previous years before the pandemic outbreak, and more positive than that in 2020. FDI, retail and SME segments saw good growth of 16.5%, 11.6% and 7.9%, respectively.

Credit quality improved positively with NPL ratio under the central bank’s Circular 02 of 1.39% (down 0.15% compared to the beginning of the year); group 2 debt ratio was 1.38% (down 0.06% compared to the beginning of the year). BIDV has fully made provision for risks according to debt classification. Safety criteria have been guaranteed according to regulations.

Non-interest income saw positive results: Net service income (excluding guarantee fee) reached VND3,199 billion, up 39% from the same period last year – the highest growth in the last three years. Service income from digital banking saw an impressive growth of 75% compared to the same period last year.

Accelerating digital transformation is one of BIDV’s highlights in the first months of the year.  BIDV completed 2021 - 2025 Digital Transformation Strategy with vision to 2030 being the bank with the best digital platform in Vietnam;  launching new generation Smart Banking digital banking app which marked an important milestone in the bank’s digital transformation journey towards bringing the best digital service experiences, utilities, and added values to customers; launching the SME Digital Transformation Program (SME Digitrans) to support businesses to accelerate digital transformation; implementing key IT projects such as Corebanking system transformation, loan management solution (CROMS).

In the first 6 months of 2021, BIDV received positive recognition from prestigious international and domestic organizations with awards and accolades such as: Top 2,000 largest public companies in the world (Forbes magazine); Top 300 most valuable banking brands in the world (Brand Finance); Best Retail Bank in Vietnam (The Asian Banker Magazine); Best SME Bank in Vietnam (The Asian Banking & Finance magazine); Wholesale Bank of the Year (Global Banking & Finance Review); Best Bank in Vietnam (The Alpha Southeast Asia Magazine), Best Cash Management Bank in Vietnam (The Asian Banker magazine), 6 Sao Khue IT awards 2021, among others.

Practical support for customers and communities affected by the pandemic

Promoting the role and responsibility of a leading financial institution in Vietnam, BIDV actively implemented activities to support customers and communities to ease the impact caused by the Covid-19 pandemic.

In response to the policy of the Government and the State Bank of Vietnam on the implementation of solutions to supporting customers to recover, maintain and boost production and business given the complicated developments of the Covid-19 pandemic, from 15 July 2021 BIDV reduced lending interest rates on existing outstanding loans by an average of 1% per year, and by up to 2% per year for some difficult customer groups compared to the current interest rate.

In the first half of 2021, BIDV launched credit packages at preferential interest rate totalling up to VND368 trillion and actively reduced income by VND2,500 billion to support customers. For the remainder of the year, BIDV plans to continue to support customers affected by the Covid-19 pandemic with a total of up to VND3,600 billion, including interest reduction of VND2,000 billion on existing loans and VND1,600 billion for new loans. Thus, the total resources BIDV expects to support customers affected by the Covid-19 pandemic in 2021 are up to VND6,100 billion.

In addition to business activities, BIDV actively joined to support Covid-19 pandemic response activities such as making donation to the Covid-19 Vaccine Fund, providing emergency support for localities and health officers, providing necessities to people, etc. totaling VND200 billion in the last six months.

For more information, please contact:

Branding and Communication Department

Bank for Investment and Development of Vietnam JSC (BIDV)

Tel: (+84)24 22205256; Fax: (+84)24 22200399


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