In 2021, despite the serious impact of the Covid-19 pandemic, with efforts, determination and solidarity, BIDV maintained safe and smooth operations, comprehensively fulfilling the goals of scale, structure, quality, efficiency, financial capacity and institutional development, preserving and growing State capital, fully fulfilling obligations to the State, ensuring the interests of shareholders and employees.

As a large State-owned commercial bank, BIDV proactively and drastically implementing solutions to support businesses, society and communities in the fight against the Covid-19 pandemic: proactively reducing income by more than VND7,900 billion to support customers affected by the pandemic through reducing lending interest rates, reducing fees, restructuring loan repayment, launching credit packages at preferential rates; actively implementing social security programs.

BIDV met business targets as assigned by the State Bank and the General Meeting of Shareholders, particularly:

As of 31 December 2021, total assets of the commercial banking business alone had reached VND1.72 quadrillion, up 16.3% compared to 2020, maintaining the position as the largest joint stock commercial bank by total assets in Vietnam.

Total customer deposits reached VND1.61 quadrillion; of which deposits from organizations and individuals reached VND1.49 quadrillion, up 16.9% compared to 2020, accounting for more than 11% of the deposit market share of the whole sector.

Total outstanding credit and investment reached VND1.65 quadrillion; of which the loan balance hit VND1.33 quadrillion, up 11.8% compared to 2020, complying with the credit limit assigned by the State Bank (12%) and accounting for more than 13% of the credit balance of the whole economy. Retail outstanding loans increased by 25% compared to 2020; SME and FDI outstanding loans increased by 15% and 21%, respectively.

The NPL ratio according to Circular 11/2021/TT-NHNN was controlled at 0.81%, decreasing by 0.73% compared to 2020, ensuring the target assigned by the State Bank in 2021 (<1.6%). Group 5 debt ratio was 0.42%, down 0.82% compared to 2020.

BIDV has made full provisions for risks according to regulations. The bad debt coverage ratio reached 235% - the highest level ever in recent years.

Charter capital hit VND50,585 billion, an increase of VND10,365 billion compared to 2020, sustaining the leading position among joint stock commercial banks. Owners equity reached VND81,065 billion, up 9.2% compared to 2020.

Profit met the 2021 target as assigned by the State Bank. Safety ratios ensured compliance with regulations; International credit ratings improved.

BIDV has fulfilled its obligations to the state; ensuring the interests of shareholders and income for employees.

Activities of subsidiaries, joint ventures and affiliates in 2021 posted positive results. Profit before tax of subsidiaries in 2021 reached VND1,094 billion.

Commenting on the 2021 business results, Mr. Phan Duc Tu - Chairman of the Board of Directors of BIDV affirmed: “The whole BIDV system has thoroughly grasped and well followed the policies of the Party and the State, the direction of the Party Committee of the Central Business Sector and the State Bank of Vietnam. BIDV has comprehensively completed and surpassed the 2021 targets, joining the whole banking industry to effectively serve the socio-economic development of the country..."

Addressing the meeting, Mr. Nguyen Kim Anh - Deputy Governor of the State Bank of Vietnam acknowledged the outstanding results BIDV achieved in 2021 as well as its contribution to the successful implementation of monetary policy, supporting the economy to overcome difficulties caused by the Covid-19 pandemic. The Deputy Governor emphasized: “I believe that with the results achieved and the efforts and determination of the Board of Directors, and Board of Management, BIDV will continue to fulfill the business plan in 2022 and the following years, making an important contribution to the overall performance of the industry, enhancing the role, position and reputation of BIDV in Vietnam‘s banking system, as well as in the region and the world.”

With the action motto of "Discipline - Efficiency - Digital Transformation", BIDV is determined to complete the 2022 business plan.

To complete the set goals, BIDV is set to effectively implement key tasks in 2022 such as: Strictly implementing measures to prevent and control the Covid-19 pandemic throughout the system, ensuring safe and smooth business operations; Credit growth compliant with the direction of the Government and the State Bank; Managing capital flexibly, effectively and safely; Strictly controlling credit quality; Maintaining sustainable efficiency on the basis of maximizing revenues, effectively managing costs, improving investment activities and financial capacity; Improving governance and management capacity; Implementing uniform digital transformation solutions; Fostering corporate culture in association with developing quality human resources; Balancing resources to support customers affected by the Covid-19 pandemic in accordance with the policies and regulations of the Government and the State Bank of Vietnam; Implementing responsibility to the community as a major financial institution in the system.