RELEASED DATE 04 Aug 2021
The award is determined through a combination of surveys, interviews and field research by The Asian Banker’s research staff over more than 250 financial institutions in the Asia Pacific. Evaluation criteria include business performance, technology platform, services and risk management for customers’ assets as well as Covid-19 response solutions. The award is recognition of BIDV's efforts and achievements in catching up with market trends, providing comprehensive services and technological capacity. The award once again reaffirms BIDV's No.1 position among domestic custodian banks.
The first bank granted a depository license in 2003, BIDV has had nearly 20 years of experience in the field of custodian and supervisory services and has always maintained its leading position among domestic custodian banks with the largest assets under custody (over VND300 trillion) at an average growth of 50% per year. BIDV is the only bank in the market that provides comprehensive, all-in-one services for investors, investment trust portfolios as well as for all types of securities investment funds, such as member funds, mutual funds, closed-end funds, open-ended funds, exchange-traded funds (ETF), property investment funds, and expectedly voluntary supplemental retirement funds.
BIDV has strongly invested in technology to digitize processes which help improve accuracy, service speed and lay foundation for developing new services to keep up with market trends, to provide better experience and customer satisfaction. Income from custodian and supervisory services increased by 24% over the same period last year. In April 2021, BIDV's securities custodian and supervisory program, named BIDV eTrust, was honoured in the Top 10 Sao Khue Awards and recognized as an excellent product/solution of Vietnam's software and information technology industry in 2021.
Founded on 26 April 1957, BIDV is the largest commercial bank in Vietnam by total assets. As of the second quarter of 2021, the bank's total assets reached over VND1.64 quadrillion. BIDV boasts a wide network of nearly 1,100 domestic and foreign branches and transaction offices, establishing partnerships with 2,300 financial institutions globally. BIDV has been among the world’s Top 2000 largest public companies (Forbes) and Top 300 most valuable banking brands (Brand Finance) for years.
About The Asian Banker
The Asian Banker, headquartered in Singapore, is a leading provider of strategic intelligence and builder of platforms on the financial services industry, established since 1996. The magazine runs regular programmes around the world, including across Asia Pacific (China, Japan, etc.). The Asian Banker also honours BIDV in other categories such as Best Retail Bank in Vietnam for the six time, Best Transaction Bank in Vietnam, Best Payment Bank in Vietnam, Best Cash Management Bank in Vietnam, among others.
For more information, please contact:
Bank for Investment and Development of Vietnam JSC (BIDV)
Financial Institutions Department
Tel: +8424.22205544; ext. 6126.