BIDV Highlights
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BIDV’s leadership welcomes new members of the Board of Directors and Supervisory Board
Aiming high in 2021 On 12 March BIDV held its Annual General Meeting of Shareholders 2021 (AGM) in Hanoi, setting high targets for the year ahead. Positive performance despite challenges Despite the severe impact of natural disasters and the Covid-19 pandemic, BIDV system made great efforts to ensure business continuity and safety and achieved positive results. These include: comprehensively fulfilling the 2020 business plan targets as assigned by the AGM; growth in accordance with economic and market developments; preserving and increasing the amount of state capital at BIDV; fully accomplishing obligations to the state budget; and ensuring the interests of shareholders and employees.
BIDV also effectively performed its responsibilities to the community, proactively reducing its income in order to share difficulties with businesses and individuals across the country affected by natural disasters and the pandemic. In particular, the bank’s total assets reached VND1,516,686 billion (USD66 billion), up 1.8 percent compared to 2019 - making it the largest commercial bank in Vietnam by assets. Deposits in 2020 were diverse, meeting capital demand and reaching VND1,402,248 billion (USD61 billion), of which deposits from organisations and individuals hit VND1,295,533 billion (USD56.3 billion), an increase of 9.1 percent from 2019, accounting for 11 percent of the share of the banking sector’s deposits. Total outstanding loans and investments hit VND1,438,520 billion (USD62.5 billion), growing by 8.5 percent from 2019,
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of which outstanding loans reached VND1,230,569 billion (USD53.5 billion), up 8.5 percent compared to 2019 and accounting for 13.4 percent of the economy’s credit market share. BIDV's service income hit VND7,219 billion (USD314 million), up 19.6 percent compared to 2019 – a wholly positive figure given the current difficult business environment. The difference between revenues and expenses hit VND32,344 billion (USD1.4 billion), an increase of 4.8 percent compared to 2019. Consolidated profit before tax hit VND9,026 billion (USD392 million), surpassing the target assigned by the State Bank of Vietnam. However this figure was still lower than that of 2019 due to BIDV’s proactive income reduction by more than VND6,400 billion (USD278 million) for restructuring debt, lowering and exempting interest rates and fees to
