BIDV receives double SME awards

Huyen truc

BIDV was honoured by two prestigious magazines Asian Banking and Finance and Alpha Southeast Asia as Best SME Bank in Vietnam for its outstanding capacity and position in providing financial services and solutions to SME customers. This is the fourth consecutive year BIDV has received this title.

Despite the negative impact of the Covid-19 pandemic, BIDV's SME customer base has grown steadily. Currently, BIDV is leading by market share of SME customers in Vietnam with the number reaching nearly 325,000, accounting for nearly 40 percent of the total number of SMEs in Vietnam. Total outstanding loans of SME customers at BIDV reached more than VND285 trillion (USD12.5 billion), an increase of nearly 20 percent over the same period last year. As the largest commercial bank in Vietnam by total assets, BIDV has introduced financial solutions for SMEs, aiming to build a sustainable SME community. In 2021, BIDV issued many preferential credit packages for SMEs with a total scale of up to VND200 trillion (USD8.7 billion) and reduced lending interest rates by up to 2 percent per year to support businesses to overcome the difficulties caused by Covid-19. BIDV has also implemented a fee reduction program for SMEs titled “The best choice of businesses", which waives and reduces fees for customers such as account management fees, annual fees, payroll fees.

Alpha Southeast Asia commented: “As one of the strongest banks in the country, BIDV is continuing to ride a wave of growth thanks to its sprawling domestic branch network and proactive relationship management skills with the country’s growing number of SMEs. while most banks are product-focused and operate with silos concerned about their own contribution to the bank’s overall bottom line, BIDV is today one of the most fast-moving, dynamic banks in Vietnam, despite its size”.

“As one of the largest banks in terms of loans, assets and deposits, BIDV is acutely aware of its strengths and has ingeniously channelled the right amount of resources towards helping SMEs expand overseas and gradually make a name for itself in this segment”.

BIDV is the pioneer bank to build a comprehensive solution system and an outstanding digital ecosystem to meet the needs of SMEs, helping them adapt to and withstand the fluctuations of the Covid-19 pandemic. BIDV's “SME Digitrans” program launched at the beginning of 2021 has brought outstanding benefits to SMEs in business governance and financial - accounting management, minimizing risks and transaction errors in the transaction, saving time and human resources as well as improving financial management efficiency.

Early this year, the Global Banking & Finance Review (GBAF) honoured BIDV as Best SME Bank in Southeast Asia 2021.