BIDV Highlights
Tue Minh
Creating solid foundations for strong growth On 06 January BIDV hosted an online business implementation conference in Hanoi, setting new targets for the path ahead. Overcoming challenges to complete targets Given the general context of the economy, the BIDV system rendered great efforts to overcome difficulties, ensuring business continuity, fulfilling its business plan targets, contributing positively to the state budget, and ensuring the interests of shareholders and employees. The bank also effectively performed its responsibilities to the community, proactively reducing its income in order to share the burden with individuals and businesses across the country affected by natural disasters and the Covid-19 pandemic. The bank’s total assets as of 31 December 2020 reached VND1.49 quadrillion (USD64.4 billion), 1.5 times higher than 2016, with an annual average growth of 10.4 percent in the 2016-2020 period. This helps affirm BIDV’s position as the largest commercial bank in Vietnam by assets. Customer deposits as of 31 December 2020 hit more than VND1.27 quadrillion (USD54.9 billion), twice as much as in 2016, with an annual average growth of 12.5 percent in the 2016-2020 period, accounting for nearly 11 percent of the share of the sector’s deposits - the largest among commercial banks.
Mr. Phan Duc Tu, chairman of BIDV's Board of Directors speaks at the business conference in Hanoi
Total outstanding credit and investment reached VND1.43 quadrillion (USD61.8 billion), up 9 percent compared to 2019; in which outstanding loans reached VND1.19 quadrillion (USD51.4 billion), 1.92 times higher than 2016, and up 8.8 percent compared to 2019 in compliance with the credit limit assigned by the State Bank, and accounting for 13.5 percent of the share of credit of the whole sector. Last year the bank’s individual customer base reached 11.6 million, an increase of 14 percent; of which the number of individual customers using digital banking services stood at nearly 4.4 million, 12.6 times higher than in 2016. SME customers stood at 309,000, an increase of 8 percent compared to 2019. The pre-tax profit of the banking business alone only reached VND8,515
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B I D V review
billion (USD368 million) and consolidated profits reached VND9,017 billion (USD390 million), exceeding the financial plan assigned by the State Bank. However this figure was still lower than that of 2019 due to BIDV’s proactive income reduction by more than VND6,400 billion (USD276.5 million) for restructuring debt, lowering interest rates and
With the 2021 motto of action “Discipline - Quality - Digital Transformation”, BIDV is set to successfully implement its business plans for 2021 – the first year of implementing the strategy to 2025, with a vision to 2030. Specifically, total assets will grow by about 9 percent; credit growth is set to increase by about 12 percent in compliance with the limit assigned by the State Bank, customer deposits will grow by 12-14.8 percent and the NPL ratio will remain below 1.6 percent.
