GBAF spoke highly of BIDV’s products and services for institutional customers, affirming BIDV to be a leading bank in Vietnam, a pioneer in applying advanced technology to bring optimal solutions to customers. “Focusing on processes, products, the Wholesale Banking Group of BIDV adapted to the changing behaviours and needs of customers during the Covid-19 pandemic, identifying and implementing solutions to meet their needs”, said GBAF.

Given the complicated developments of Covid-19, BIDV has timely acted to support businesses through reducing, exempting interest, restructuring repayment term, keeping customers’ debt classification unchanged, launching large-scale credit packages programs with a total scale of up to VND100,000 billion (USD4.3 billion) and USD100 million. Recently, BIDV has offered the biggest incentive program titled “The optimal choice for businesses” aimed at offering effective financial solutions to customers.

GBAF also named BIDV iBank as the Most Innovative Corporate Banking app in Vietnam for 2021. The award is testament to BIDV’s efforts in developing e-banking apps to best meet the diverse needs of corporate customers.

According to GBAF, “The multifunctionality, modern interface and outstanding features of BIDV iBank support the direct needs of corporate clients, institutional customers, and financial institutions, allowing them to conduct their banking business and complete transactions through internet-connected devices from any location, giving the opportunity to execute more operations remotely. This is particularly important as it minimises human contact during the worldwide Covid-19 pandemic. Their campaign “BIDV Digi Up - Change to lead” resulted in a record number of customers registering for BIDV iBank”. By the end of the first quarter of 2021, nearly 60,000 customers used BIDV iBank.

BIDV iBank is an electronic banking product based on an omnichannel platform (web, mobile device) that serves institutional customers, financial institutions and other credit institutions. With BIDV iBank, customers can experience outstanding features such as 24/7 payment, automatic list payment, real-time account data collection, instant transaction updates (deposits, loans, guarantees, international payments, etc.), flexible centralized cashflow management, seamless connection with ERP system, confidentiality, and safety.

BIDV continues to update and improve the BIDV iBank app. At the beginning of 2021, trade finance service was also introduced to BIDV iBank with many new preeminent features. In addition to receiving, processing and storing documents online without returning original transaction documents, helping customers save time and documents for import-export transactions, BIDV iBank also updates transactions in real time, providing specialised reports according to customers' needs.

“Their unique value proposition, strong performance and ethical business conduct helped them stand out as the clear winners this year,” said Wanda Rich, Editor, Global Banking and Finance Review. “We look forward to seeing further growth and industry-leading solutions from them in the years to come.”

In 2021, GBAF also honoured BIDV as the “No.1 SME Bank in Southeast Asia”. To date, the number of SME customers in BIDV has reached more than 316,000. BIDV has achieved outstanding results in supporting small and medium enterprises, promoting green and sustainable credit, digital banking and digital transformation in customer base as well as implementing uniform solutions to help SMEs overcome difficulties caused by Covid-19. The GBAF award is recognition of BIDV’s great efforts in providing financial solutions to corporate customers.

The Global Banking & Finance Awards honour institutions that stand out in their particular area of expertise in the finance industry. They recognize achievement, challenge, progress and inspirational change in finance globally.