BIDV wins “Best SME Bank in Vietnam” award

HuYen truc

Thanks to its banking solutions for SMEs and positive business results, BIDV has received “Best SME Bank in Vietnam” and “Best Corporate Banking Solution in Vietnam” award by The Asian Banking & Finance (Singapore) for the 3rd consecutive year.

Dr. Tran Long – Senior Executive Vice President of BIDV said: “This award marks a milestone in the 5 years BIDV has concentrated on the SMEs sector. With the orientation of putting customers at the center, employing breakthrough technology, BIDV continues to accompany SME customers towards building a dynamic and sustainable SME community”. To make a decision on the award, the consulting council of The Asian Banking & Finance has taken into account the business results and commitments that BIDV had made for SMEs compared with other banks.

Having made continuous efforts, BIDV has achieved outstanding results in SME banking, such as: customer base expanding rapidly to 310,000 SME customers in 2020, accounting for 39 percent of those in Vietnamese banking system; outstanding balance of SMEs at the bank reaching VND350 trillion (USD15 billion), a 20 percent year-on-year growth; income from SMEs banking contributing more than 30 percent to the bank’s total income.

To land such outstanding results and maintain its leading position, BIDV has provided comprehensive solutions to customers.

PROMOTING SUSTAINABLE GREEN CREDIT LINE

BIDV has been focused on promoting green credit growth and social risk management in its credit activities. The bank has proactively prioritized capital of up to USD1 billion for SME customers doing business in renewable energy, wind energy, and solar energy; especially women-owned businesses and those in agricultural and rural sectors.

BIDV representatives receive the “Best SME Bank in Vietnam” award.

In addition, BIDV has been actively cooperating with domestic and foreign organizations such as the Embassy of Belgium, UNDP FI, AFD, WB, GIZ, the Ministry of Natural Resources and Environment, and the State Bank, to develop programs on green credit, sustainable development, social environment protection, CSR, etc.

PROMOTING DIGITAL BANKING AND MOVING CUSTOMERS DIGITAL

In late 2018, BIDV launched BIDV iBank – an online banking platform designed for enterprise customers. By October 2020, BIDV iBank had reached over 45,000 users, making over 1 million transactions p.a., the total value of transactions hitting more than VND800 trillion (USD34.5 billion). BIDV keeps providing comprehensive solutions to promote cashless payment in hospitals, educational institutions, rapidly completing financial service ecosystem for enterprises including online fee collection, tax payment, bill payment, money transfer, cash management, e-merchant, and online loan registration to name a few, making it convenient for customers when banking with BIDV.

PROVIDING SYNCHRONIzED SOLUTIONS TO SUPPORT SMES

So far, BIDV has implemented a lot of supporting programs exclusively for SMEs customers such as the VND100 trillion (USD4.3 billion) credit package; the VND5 trillion (USD215 million) credit package for micro-enterprises and start-ups. The lender has signed a master agreement with the Small and Medium Enterprise Development Fund to create favorable conditions for businesses in Vietnam to access capital at low cost and create momentum for SMEs’ further development.

In 2020, BIDV has promptly supported SMEs to overcome the impacts of the pandemic and natural disasters, cutting lending interest by up to 2 percent p.a. for over 3,000 customers with outstanding balance of VND50 trillion (USD2.15 billion); offering a VND70 trillion (USD3 billion) credit package for new customers affected by the Covid-19 pandemic, among others.

Recently, BIDV has been recognized by prestigious domestic and international organizations with the “Best SME Deal 2019” award by ADB; “Best SME Bank in Vietnam” award (2018 - 2019 - 2020) by The Alpha Southeast Asia; “Top 10 Sustainable Enterprises 2019” in Trade and service category by Vietnam Business Council for Sustainable Development.