RELEASED DATE 26 Nov 2020
The award ceremony took place at Vietnam Retail Banking Forum 2020 held by Vietnam Banks Association and International Data Group (IDG). The annual Vietnam Retail Banking Forum is the biggest event of the finance and banking industry in Vietnam, participated by the largest banks in the country. The awards
under the scope of this event signified the recognition of the business results and outstanding achievements of the banking sector during the challenging and unpredictable year 2020.
With specific and detailed criteria, after a fair and transparent assessment process, the judges highly appreciated the achievements and efforts that BIDV had made in the past year.
Representatives of BIDV receive the two awards “Outstanding Retail Banking” and “Digital Transformation” from the organizers
The “Outstanding Retail Banking 2020” award recognizes BIDV’s effort in maintaining its leading retail banking position with the highest net retail growth in the first 9 months of 2020 among other domestic banks. Particularly, the bank’s retail outstanding balance reached nearly VND400,000 billion (USD17.2 billion); retail deposits hit VND630,000 billion (USD27.2 billion). With an average annual growth rate of 1.3 million new customers per year, BIDV has been
serving a total of 12 million individual customers. The lender has given retail banking efficiency the highest priority while managing risks according to international practices. Profit before tax from retail banking reached VND6,200 billion, accounting for 65 percent of the bank’s profit before tax.
BIDV has taken advantage of having a foreign strategic investor - Hana Bank - to implement 7 key retail projects focusing on 3 products: private banking service, retail credit, and international money transfer - thus creating a breakthrough in BIDV's retail banking operations in the Vietnamese banking system.
The 2020 retail banking award introduced a new category for “Digital Transformation Banking” award to promptly appreciate the largest transformation in banking operations over the past years. BIDV was honored with this prestigious award for its excellent results in the transformation of banking operations in 2020.
With a strong and comprehensive digital transformation strategy, BIDV has achieved practical and specific results. The number of customers using e-banking has skied rocket to nearly 6.5 million individual customers and 60,000 business ones. The number of transactions and value via e-banking and self-service channels has increased sharply, accounting for 87 percent of total transactions. Mobile and internet banking accounted for 52 percent with yearly average reaching nearly 200 million transactions via digital channel. The rate of error transactions and customer feedback drops below 1 percent.
BIDV has connected a payment gateway (BIDV Paygate) to 24 out of 32 Fintechs and 756 merchants in Vietnam, providing 1,550 online payment services
to implement intermediary payment services such as online payment, e-wallet, and cash collection services.