BIDV Highlights
CHUNG PHAN
Building solid foundations for sustainable growth commercial bank by total assets in Vietnam. Total customer deposits reached VND1.61 quadrillion (USD70.9 billion), of which deposits from organizations and individuals reached VND1.49 quadrillion (USD65.6 billion), up 16.9 percent compared to 2020, accounting for more than 11 percent of the deposit market share of the whole sector.
On 7 January 2022, in Hanoi, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) held an online conference on implementing business tasks in 2022.
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n 2021, despite the serious impact of the Covid-19 pandemic, with efforts, determination and solidarity, BIDV maintained safe and smooth operations, comprehensively fulfilling the goals of scale, structure, quality, efficiency, financial capacity and institutional development, preserving and growing State capital, fully fulfilling obligations to the State, ensuring the interests of shareholders and employees.
As a large State-owned commercial bank, BIDV proactively and drastically implementing solutions to support businesses, society and communities in the fight against the Covid-19 pandemic: proactively reducing income by more than VND7,900 billion (USD348 million) to support customers affected by the pandemic through reducing lending interest rates, reducing fees, restructuring loan repayment, launching credit packages at preferential rates; actively implementing social security programs. BIDV met business targets as assigned by the State Bank and the General Meeting of Shareholders, particularly: As of 31 December 2021, total assets of the commercial banking business alone had reached VND1.72 quadrillion (USD75.7 billion), up 16.3 percent compared to 2020, maintaining the position as the largest joint stock
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B I D V r e vi e w
Total outstanding credit and investment reached VND1.65 quadrillion (USD72.7 billion), of which the loan balance hit VND1.33 quadrillion (USD58.6 billion), up 11.8 percent compared to 2020, complying with the credit limit assigned by the State Bank (12 percent) and accounting for more than 13 percent of the credit balance of the whole economy. Retail outstanding loans increased by 25 percent compared to 2020; SME and FDI outstanding loans increased by 15 percent and 21 percent, respectively. The NPL ratio according to Circular 11/2021/TT-NHNN was controlled at 0.81 percent, decreasing by 0.73 percent compared to 2020, ensuring the target assigned by the State Bank in 2021 (<1.6 percent). Group 5 debt ratio was 0.42 percent, down 0.82 percent compared to 2020. Profit before tax of the commercial banking alone hit VND12,600 billion (USD555 million), up 51.3 percent from 2020, surpassing the target assigned by the State Bank (VND12,500 billion). Consolidated profit before tax reached VND13,500 billion (USD595 million), an increase of 50 percent compared to 2020. Safety ratios ensured compliance with regulations; International credit
