BIDV Review 81 - April 2022 by BIDV Review

A Newsletter of Bank for Investment and Development of Vietnam JSC • Issue No.81 | April 2022

Moving forward with Vietnam BIDV introduces

new brand identity download Bidv review

BIDV AT A GLANCE The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), founded on 26 April 1957, is the longestestablished commercial bank in Vietnam. The bank’s operations cover banking, insurance, securities, and financial investment, boasting a network of nearly 1,100 branches and transaction offices as well as presence in six countries and territories. BIDV is headquartered in Hanoi, the capital of Vietnam. The bank’s stock (ticker: BID) is listed on Ho Chi Minh City Stock Exchange (HOSE).

PILLARS OF DEVELOPMENT Customer centricity Human resources and corporate culture Technology and digital banking

Priorities 2021 - 2025 Sustainable operations Sound financial capacity Transparent and effective governance Photo: Thai Van Hoa

Positive shift in the structure of customer base People development, fostering corporate culture Leading in IT application and digital banking in Vietnam

VISION 2030

MISSION

To become a leading financial institution in Southeast Asia, have the best digital platform in Vietnam, and be among Top 100 largest banks in Asia.

To deliver the best interests and conveniences to customers, shareholders, employees and society.

CORE VALUES Customer orientation Innovation Professionalism

and trustworthiness Social responsibility

EXECUTIVE PRODUCER

TRAN PHUONG Senior Executive Vice President

EDITORIAL BOARD

Branding and Communication department

HEAD OFFICE

BIDV Tower, 194 Tran Quang Khai str., Hoan Kiem dist., Hanoi, Vietnam Tel: (+84) 24 22205544 Fax: (+84) 24 22225316 Contact center: 19009247 Email: bidvreview@bidv.com.vn License No.10/GP-XBBT dated 16 March 2022 by the Ministry of Information and Communications Printed at Vietnam Book Printing Joint Stock Company

Editor’s Letter

Dear readers, his is an April special issue on the occasion of BIDV’s 65th anniversary. 65 years of growth with different names: Bank for Construction of Vietnam, Bank for Investment and Construction of Vietnam, then Bank for Investment and Development of Vietnam, and now the Joint Stock Commercial Bank for Investment and Development of Vietnam, BIDV has made great contributions to the national construction and defense, the innovation, industrialization, modernization and international integration of the country. In recognition of the efforts of the bank’s generations of staff, the Parties and States of Vietnam and Lao PDR, the King and Royal Government of Cambodia awarded noble medals and honours to BIDV. On the 65th anniversary, BIDV is honoured with noble awards including Third-class Labour Medal by the Party, State of the Socialist Republic of Vietnam; Secondclass Development Medal by the Party, State of the Lao PDR; and Royal Order of Sahametrei Mohasena class by the King of Cambodia. BIDV’s achievements over 65 years of establishment and development are not only represented by business figures but also the support, trust and long-term partnerships with financial institutions both local and international. In this issue, we would like to introduce some of the many commentaries from partners, domestic and foreign on the bank. On the occasion of the bank’s 65th anniversary, BIDV has launched a new logo with main colours being emerald green and apricot yellow. Accordingly, the bank continues to keep the

April 2022

abbreviation unchanged as BIDV and the full name as the Joint Stock Commercial Bank for Investment and Development of Vietnam. However, the bank’s logo design and colors have been adjusted. This year also marks 10 years of BIDV’s equitization. After 10 years of transforming into a joint stock commercial bank, despite the unfavorable domestic and international economic situations, BIDV continued to maintain stable operations and strong development. In terms of international cooperation, equitization is a “strategic move” that helps BIDV to be more transparent to receive resources and business experience from foreign investors. With outstanding performance in retail banking, BIDV has recently been named "Best Retail Bank in Vietnam 2022” by The Asian Banker. BIDV has achieved outstanding results, maintaining its No.1 position in the market in terms of retail size, performance and growth of individual customer base. BIDV was also honoured with 4 awards including “Outstanding Retail Banking”, “Digital Transformation Banking”; “Outstanding innovative products and services”, and “Outstanding bank for community” by Vietnam Banks Association and IDG. We would like to thank you for your tremendous support and look forward to continuing to accompany you on the path ahead. 65 years – a proud journey of moving forward with Vietnam.

contents

BIDV HIGHLIGHTS 03. Noble awards and honours 04. Congratulation letter from H.E. Mr. Tran Tuan Anh 05. Congratulation letter from H.E. Madam Men Sam An 06. A proud journey of moving forward with Vietnam 09. BIDV introduces new brand identity

POLICY UPDATE 33. New regulations effective in April PARTNERS 34. BSC to issue shares to foreign strategic investor 35. BSL named Trusted Financial Services Provider

10. Key milestones of BIDV 12. BIDV named Best Retail Bank for the seventh time 36. BIDV-SuMi TRUST Leasing: 5 years moving forward 38. An indispensable part of BIDV ecosystem MARKET MOVEMENTS 40. FDI disbursement hits five-year high 41. BIDV - the largest bond issuer in Vietnam PRODUCTS & SERVICES 42. BIDV offers free tax payment on eTax Mobile 43. Free account - Bank your way

13. BIDV honoured with four outstanding banking awards 14. 10 years of equitization 16. Deepening international cooperation BIDV – 65 years 18. A trusted partner of financial institutions 19. Strong partnership sets a good example for companies 20. Taking a leap toward globally leading banks 21. Strengthening the cooperation 22. Standing side by side in implementing major policies 23. A strong and productive relationship with BIDV 24. Strengthening mutual business partnership 25. A consistent partner along BIDV’s growth 26. Building a sustainable partnership of mutual benefits 28. Forging a sustainable future for all 29. A pioneering bank in Vietnam’s financial market 30. A typical member of Vietnam’s stock market 32. Valuing the good partnership with BIDV

LIFESTYLE 44. Famous waterfalls in Vietnam 46. The theatre of rice CSR 48. Community houses for flood-prone areas (Ảnh)

B I D V r e vi e w

BIDV Highlights

Noble Awards and Honours on the occasion of Bidv’s 65th Anniversary

The Third-class Labour Medal of the Socialist Republic of Vietnam

The Second-class Development Medal of the Lao People’s Democratic Republic

The Royal Order of Sahametrei - Mohasena class of the King of Cambodia

Over the 65 years of establishment and development, the BIDV system is honoured with noble awards from the Socialist Republic of Vietnam, the Lao People’s Democratic Republic and the King of Cambodia.

AWARDS AND HONOURS BY THE SOCIALIST REPUBLIC OF VIETNAM l l l l l l l

AWARDS AND HONOURS BY THE LAO PEOPLE’S DEMOCRATIC REPUBLIC

Labour Hero in the new innovation period (1989–1999 period) Ho Chi Minh Medal (2007) First-class Independence Medal (2002, 2012) Third-class Independence Medal (1999) First-class Labour Medal (1997, 2017) Second-class Labour Medal (1992) Third-class Labour Medal (1987, 2022)

And numerous Certificates of Merit and Emulation Flags by the Government, the Governor of the State Bank of Vietnam, ministries, and provincial authorities.

l l l l l l

AWARDS AND HONOURS BY THE KING OF CAMBODIA l l l l l

irst-class Independence Medal (2017) F Second-class Independence Medal (2012) Second-class Development Medal (2022) Friendship Medal (2007, 2014) First-class Labour Medal (2011) Second-class Labour Medal (2002)

oyal Order of Sahametrei - Moha Sena class (2022) R Royal Order of Monisaraphon - Mohasereivath class (2017) Royal Order of Sahametrei - Grand Cross (first class) (2015) Royal Order of Cambodia - Grand Cross (first class) (2012) First-class Royal Order of Merit (2010)

April 2022

BIDV Highlights

Congratulation Letter From H.e. Mr. Tran Tuan Anh Politburo Member, Head of The Party Central Committee’s Economic Commission

ear generations of leaders and employees of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV),

On the occasion of the 65th anniversary of BIDV, on behalf of the Central Economic Commission, I would like to extend the best wishes to the generations of leaders and employees of the Bank. As one of the longest-established credit institutions in Vietnam, the construction and development of BIDV is a glorious and proud journey associated with the country's economic development history. As one of the key banks of the economy, BIDV has made significant contributions to the country's socio-economic development in general and the banking industry in particular. During the past 65 years, BIDV has always taken its pioneering role in the effective implementation of the policies of the Party and State and the monetary policy orientations of the State Bank; actively expanding and strengthening international cooperation activities in Laos, Cambodia and Myanmar, contributing to closely connecting economic activities and international cooperation. Up to now, BIDV has become the leading bank in terms of total assets and charter capital among commercial banks, boasting a wide operational network across the country, and an advanced banking governance system in accordance with international practices. In addition to the achievements in business activities, BIDV has also been active in social security activities, making great contributions in the fields of education, health care, community development, and especially the outstanding contribution to supporting businesses and people to overcome difficulties caused by the Covid-19 pandemic in the period of 2020-2021, and restore production and business activities. I recognize and praise the achievements built up by generations of leaders and employees of BIDV over the past 65 years. Given new opportunities as well as difficulties and challenges, I believe that all leaders and employees of BIDV will continue to foster the glorious 65-year tradition, reaching further on the path ahead, and deserving the trust and love of the people and partners, making greater contributions to the industrialization and modernization of the country. I would like to wish all the leaders and employees of BIDV good health, happiness and success.

Hanoi, 22 April 2022

B I D V r e vi e w

BIDV Highlights

Congratulation Letter

From H.e. Madam Men Sam An Deputy Prime Minister of the Royal Government of Cambodia, Minister of National Assembly-Senate Relations and Inspection

n the 65th anniversary of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), on behalf of the Royal Government of Cambodia and personally, I would like to congratulate BIDV on the great achievements and highly appreciate the bank’s contributions to the socio-economic development of Vietnam and international cooperation. Since its inception in 1957, BIDV has become one of the leading commercial banks with the longest-established history in Vietnam and made significant contributions to the socioeconomic development of Vietnam.

Original congratulation letter from H.E. Madam Men Sam An

Especially, BIDV has officially been present in Cambodia since August 2009 with the establishment of the Bank for Investment and Development of Cambodia Plc (BIDC) and a number of companies. BIDV has made positive contributions to the development of the finance and banking system, connecting economic cooperation between the two countries, contributing to promoting the trade and economic cooperation between Vietnam and Cambodia. For the achievements gained, BIDV, BIDC and their leaders have been presented many noble awards by the King and Prime Minister of the Royal Government of Cambodia. On the bank’s 65th anniversary, I would like to wish BIDV new achievements and successes. Phnom Penh, 1 April 2022

April 2022

BIDV Highlights

Phan D uc Tu

BIDV Chairman

A proud journey of moving forward with Vietnam BIDV’s development history is a proud and glorious journey of the longest-established commercial bank in Vietnam, which has always undertaken great tasks for the country. Glorious missions 65 years of growth with different names Bank for Construction of Vietnam, Bank for Investment and Construction of Vietnam, then Bank for Investment and Development of Vietnam, and now the Joint Stock Commercial Bank for Investment and Development of Vietnam, BIDV has made great contributions to the national construction and defense, the innovation, industrialization, modernization and international integration of the country. The Bank for Construction of Vietnam (the predecessor of the Joint Stock Commercial Bank for Investment and Development of Vietnam - BIDV) was established on 26 April 1957 under the Prime Minister’s Decree 177/TTg. The Bank for Construction of Vietnam was tasked with providing timely capital for national and civil projects, effectively supporting the socialism construction in the North and the struggle for liberation of the South.

managing capital sources for the construction of works for economic development. Some typical works include Thong Nhat railways, VietsovPetro, Tri An Hydropower, Da Nhim Hydropower, Vinh Phu Paper, and Dau Tieng Hydraulic System. On 24 June 1981, the Council of the Government issued a decision to move the Bank for Construction under the Ministry of Finance to establish the Bank for Investment and Construction of Vietnam under the State Bank of Vietnam. The main task of the bank was still allocating capital and providing loans for construction and starting Mr. Phan Duc Tu, Chairman of the Board of Directors, BIDV application of borrowing – repayment mechanism to The bank allocated capital for many gradually eliminate subsidy in capital large projects in the North such construction. Under this mechanism, as Thuong Dinh industrial zone; the bank allocated funding to mechanical plants in Hanoi; Thai build great works such as Ho Chi Nguyen iron and steel factory; Ha Bac Minh Mausoleum, Hoa Binh and Tri fertilizer company; power plants in An Hydropower Plants, Ha Long Hanoi, Uong Bi, and Nghe An province; Shipbuilding Factory, Chua Ve Port (Hai coal mines in Quang Ninh province; Phong), Thang Long Bridge, Chuong and Bac Hung Hai hydropower project, Duong Bridge, Vietnam-Soviet Cultural amongst others. Friendship Palace, amongst others, which formed solid foundations for As soon as the South was liberated the socio-economic development of the in 1975 and the country was country. reunified, the Bank for Construction of Vietnam established branches in Following the Ordinances on the the South, expanding its network State Bank and on banks, credit throughout the country. The Bank cooperatives and financial companies, utilized all resources, effectively on 14 November 1990, the Council

B I D V r e vi e w

BIDV Highlights

of Ministers issued a decision on establishing the Bank for Investment and Development of Vietnam (BIDV) through conversion from the Bank for Investment and Construction of Vietnam. BIDV made breakthroughs in eliminating subsidies in capital construction and investment, developed new products and services to meet the needs of the market. Since 1 January 1995, BIDV has officially operated under the model of a commercial bank. Although starting commercial business late compared to Vietnam's state-owned banks, with desire for dedication, steadfast stance, solidarity, and creativeness, BIDV has overcome difficulties and gained important achievements in institutional development, network, products, services, technology, and external relations. During the subsequent 2 decades, BIDV made comprehensive and strong innovation and breakthroughs, operating safely and efficiently, rising to become a high-class bank with sufficient competitiveness and confidence to join the international playground. Following the policies of the Party and State, BIDV was successfully equitized in May 2012 and officially transformed into a joint stock commercial bank. BIDV has shifted comprehensively and uniformly into a modern and universal commercial banking model, identifying customers as the center of business, technology and human resources as values and competitive tools as the core. BIDV has also made

progress in institutional innovation and governance capacity. The bank’s business activities have grown robustly, actively contributing to the development of the banking industry and the country. A landmark in BIDV's history was that in 2019, the bank entered into a strategic cooperation agreement with Hana Bank (a member of Hana Financial Group, Korea). This was the largest M&A deal in the history of Vietnam's banking industry, which has brought great benefits to BIDV and to the State – the controlling shareholder. The deal offers opportunities for BIDV to fundamentally change its governance model, improve financial capacity, management capacity, risk management, competitiveness to better meet the needs of customers.

Building on achievements to move forward Over the past 65 years of operation with more than 25 years operating as a fully-fledged commercial bank, from a single-owned bank operating in a single field in the domestic environment and serving purely state-owned enterprises, BIDV today has become a multi-owned financial institution operating in different countries and territories with transparent operation in accordance with international standards and practices. From a specialized bank with just 11 branches and 200 employees, BIDV today boasts a network of 1,085 branches and transaction offices at

April 2022

home and abroad, 10 subsidiaries and presence in Laos, Cambodia, Myanmar, Russia, Taiwan (China) with a staff force of more than 27,000 well-trained and professional people. BIDV is now serving more than 15 million customers, has established relationships with more than 2,300 financial institutions in 127 countries and territories around the world. At the end of 2021, BIDV was the largest commercial bank in Vietnam with total assets reaching over VND1.76 quadrillion (USD77.4 billion), and charter capital of VND50,585 billion (USD2.23 billion) – the highest amongst Vietnamese commercial banks. BIDV’s mobilized capital reached over VND1.5 quadrillion (USD66 billion) and loans to customers reached over VND1.36 quadrillion (USD60 billion). Nonperforming loan ratio was 0.81 percent and bad debt coverage ratio at 235 percent. BIDV's market capitalization value is more than VND242,300 billion (USD10.5 billion), ranking fourth in the entire market. BIDV has paid over VND28 trillion (USD1.23 billion) to the State budget over the past 5 years, and is among the largest taxpayers in Vietnam. Besides business activities, during its long history of development, BIDV has been one of the pioneers in implementing social corporate responsibility, considering it one of the core values that the bank has spared no effort to implement. Social security activities are implemented by BIDV in many fields such as: education, health care, disaster relief, building solidarity

BIDV Highlights

houses, construction of bridges and roads, donation of New Year gifts to the poor, contributing significantly to sustainable poverty reduction and the national target programs. BIDV’s total realized fund for social security activities in the period 2007 - 2022 reached more than VND4,300 billion (USD190 million). Especially, over the past 2 years, when Vietnam and the world had to fight against the Covid-19 pandemic, BIDV has promoted its role into full play, implementing many solutions to ensure business continuity to provide banking and financial services to the economy; actively supporting businesses and people. In two years 2020 and 2021, BIDV had proactively reduced its income by VND14,300 billion (USD630 million) to support customers affected by the Covid-19 pandemic. The bank also actively implemented social security activities

with a total budget of more than VND700 billion (USD30.8 million). For significant contributions, BIDV has proudly been awarded many noble medals and honours by the Party and State of Vietnam such as Labour Hero in the innovation period; Ho Chi Minh Medal; First and Third class Independence Medals; Labor Medals... BIDV was also awarded the Friendship Medal, First-class Independence Medal, and First-class Labour Medal by the Party and State of Lao PDR. BIDV was awarded the First-class Royal Order of Cambodia, the Order of Monisaraphon - Moha Sereivath class by the King and Royal government of Cambodia. BIDV has also been honored by prestigious domestic and international organizations as Top 2,000 largest public companies in the world (Forbes), the world’s Top 500 most valuable bank brands (Brand Finance), Best SME Bank in Southeast Asia; Best Retail

B I D V r e vi e w

Bank in Vietnam, Outstanding Digital Transformation Bank; Enterprise for the community, among others. The path ahead is opening up both opportunities and challenges for BIDV. BIDV has actively developed a business development strategy to 2025 with a vision to 2030 with the goal of becoming a leading financial institution in Southeast Asia, having the best digital platform in Vietnam and being one of the 100 largest banks in Asia. This is the guideline for BIDV to implement its annual business plan and the foundation for the bank to continue its efforts and promote its role as a State primarily owned joint stock commercial bank, significantly contributing to the strong and prosperous development of Vietnam.

BIDV Highlights

Vi nh Nam

BIDV introduces new brand identity The yellow colour also demonstrates the identity of the banking and finance profession. The star and apricot flower in the icon also bear great meaning. According to the Eastern philosophy, the five elements represent fertility, vitality, and lasting harmony. They also symbolize 5 continents and express BIDV’s aspiration for international integration.

BIDV has launched a new logo on the occasion of its 65th anniversary in April 2022 with main colours being emerald green and apricot blossom yellow.

ccordingly, the bank continues to keep the bank abbreviation unchanged as BIDV and the full name as the Joint Stock Commercial Bank for Investment and Development of Vietnam. However, the bank’s logo design and colors have been adjusted. The wordmark "BIDV" is fine-tuned to be softer and more flexible. Letter V is stylized from the corner of a star wing, linking the wordmark and icon to form a unified and harmonious whole.

The new icon in BIDV’s logo is a creative combination of a star and a yellow apricot blossom. The star image is inspired by the Vietnamese national flag yet shaped with open and moving contours. This is to demonstrate BIDV's movement with an innovative spirit in the digital era towards friendliness and modernity, taking customers, human resources, and digital transformation as the pillar of development, and moving forward. The new logo’s main colour is emerald green - one of the four precious gemstones crystallized for millions of years. The colour represents life, longevity and BIDV’s aspiration for sustainable development. The complementary color is the apricot blossom yellow which creates a fresh, dynamic and enthusiastic appearance.

April 2022

The launch of the new logo is part of BIDV's strategy to deliver a dynamic and friendly image of a bank that is always on the mission of bringing the best conveniences and benefits to customers, shareholders, employees and society. Aiming to become the bank with the best digital platform in Vietnam, BIDV is set to make more important changes in the up-coming time to improve service quality and provide high quality products and services to all customers, individual and corporate. The process of complete transformation of BIDV's brand identity is scheduled until 2025. Accordingly, BIDV will not change its logo simultaneously but gradually following the principle of thrift, efficiency and suitability with the bank’s specific conditions.

BIDV Highlights

Key milestones of BIDV Established under the name of Bank for Construction of Vietnam

Renamed as Bank for Investment and Development of Vietnam

Expanding operations across the country

1957

1976

1990

Apr

Becoming a special State-owned enterprise

Nov

Mar

1996

1957

1981

1995

May

Jun

Established first 11 branches

Renamed as Bank for Investment and Construction of Vietnam under the State Bank of Vietnam

B I D V r e vi e w

Jan

Officially operating as a fully-fledged commercial bank

BIDV Highlights

Awarded Ho Chi Minh Medal

Transformed into the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV)

Mekong Housing Bank was merged with BIDV

Business development strategy to 2025, vision to 2030 issued

2007

2012

2015

2021

Apr

May

may

Jan

2000

2011

2014

2019

Dec

Honoured as Labour Hero in the Innovation Period

Dec

Jan

Successful IPO

BIDV stock (ticker: BID) was officially listed on the stock exchange

April 2022

Nov

Strategic alliance with Hana Bank

BIDV Highlights

Nhu ng Nguyen

BIDV named Best Retail Bank for the seventh time Besides the retail banking activities with modern technology, BIDV always pays great attention to social security activities. In 2021, BIDV launched a special retail credit program titled "Accompanying the health sector” as tribute to frontline medical staffs during the Covid-19 pandemic peak nationwide. By the end of February 2022, the program had supported 113,400 customers.

Chu thich: Mrs. Nguyen Thi Quynh Giao (centre) and heads of units under the Retail Banking Group receive the award at a virtual award ceremony.

BIDV has been named "Best Retail Bank in Vietnam 2022” by The Asian Banker for its outstanding performance in retail banking. The award ceremony was held virtually on 24 March 2022.

he banking and finance industry faced many difficulties and challenges in 2021 due to the Covid-19 pandemic. However, with relentless efforts, BIDV has achieved outstanding results, maintaining its No.1 position in the market in terms of retail size, performance and growth of individual customer base. BIDV has strongly transformed with a strategy focused on retail banking and digital

transformation, particularly digitalizing banking activities, products and services. A highlight in the retail banking operation is the digital experience for customers on a single digital banking platform - the new generation SmartBanking which has been launched since March 2021. The new generation SmartBanking offers eKYC experience and a series of new features which enhance customer experience. Customers can easily deposit online just in seconds, or borrow online in just 3 minutes. They can buy insurance, or open an online securities account right on SmartBanking, and many outstanding utilities such as Memberships Rewards. BIDV is also the bank that has the most connections with Fintech companies in Vietnam, with 35 out of 46 companies at the end of 2021.

B I D V r e vi e w

The "Best Retail Bank in Vietnam" award is a category of "The Asian Banker Vietnam Country Awards 2022". Through rigorous interview and profile evaluation rounds, BIDV has outperformed other banks to be honoured with the award. Having won the award for the seventh time, BIDV has reaffirmed its efforts in providing individual customers with modern and friendly products and services which employ state-of-the-art technology. With a customer-centric strategy, BIDV is committed to continuing efforts to serve and provide the best products and services to customers.

• The "Best Retail Bank in Vietnam in 2022" award is a category of "The Asian Banker Vietnam Country Awards 2022" system. Every year, The Asian Banker evaluates more than 300 banks and non-banking retail financial service organizations in more than 42 countries to present this award… • BIDV has also been honoured with prestigious awards such as Outstanding Retail Bank for the fifth consecutive year (2016-2020) and Outstanding Digital Transformation Banking 2020 as voted by Vietnam Banks Association (VNBA) and International Data Group (IDG).

BIDV Highlights

Mi nh Dung

BIDV honoured with four outstanding banking awards business development strategy. The bank has achieved remarkable digital transformation results in 2021. In particular, the number of transactions on digital channels accounted for nearly 70 percent of total transactions. Net income from digital banking increased by 66 percent compared to 2020. BIDV was also honoured with the award "Outstanding innovative products and services" for the program "Accompanying the health sector, joining hands to overcome the pandemic" for medical staffs with total support of VND1,670 billion (USD73.5 million). By the end of February 2022, the program had supported 113,400 doctors and nurses across the country. In addition, BIDV also develops hundreds of products and services tailored to the individual customer segment, bringing the best experience to customers.

A representative of BIDV receives the "Outstanding Bank for Community" award

BIDV outperformed evaluation criteria to receive 4 important awards at Vietnam Retail Banking Forum 2021

he 4 awards are “Outstanding Retail Banking”, “Digital Transformation Banking”; “Outstanding innovative banking products and services”, and “Outstanding bank for community”, which are part of the Vietnam Outstanding Banking Awards (VOBA) held by Vietnam Banks Association in collaboration with IDG Vietnam on 25 March 2022.

2021 marked BIDV’s strong digital transformation in products and services. The voting council recognized the bank’s outstanding performance in retail banking with the highest scores for capital mobilization, service and retail credit. Individual customer base, especially digital customers, saw the highest growth in the market. BIDV became the first and only bank to be honoured with "Outstanding Retail Bank" award for 6 consecutive years since 2016. Over the years, BIDV has been one of the leading banks for digital transformation, clearly defining digital transformation as one of its three key pillars in the

April 2022

Apart from the business operation, BIDV has always been a pioneer in social security activities, actively contributing to improving people's quality of life and sustainable poverty reduction. The "Outstanding bank for community" award is a testament to BIDV's contribution to the community and society. Since 2017, BIDV has implemented social security programs worth nearly VND1,300 billion (USD57.3 million), focusing on the fields of education, health care, building houses for the poor, and disaster relief. Between 2020 and 2021, BIDV had donations to Covid-19 response programs with a total of nearly VND300 billion (USD13.2 million). Every year, the bank implements “New year gifts for the poor” program with tens of thousands of gifts; “01 million trees” program in areas frequently affected by natural disasters; as well as donating hundreds of ambulances to hospitals.

BIDV Highlights

Hu ong Phuong

10 years of equitization reached VND550 trillion (USD24.2 billion), with growth rate of capital mobilization and loans reaching over 16 percent each, and profit before tax reaching VND5,233 billion (USD230 million), an increase of nearly 21 percent compared to 2012. ROA and ROE ratios were 0.73 percent and 12.7 percent, respectively and dividend payout ratio was 8.5 percent.

A meeting on the re listing of BIDV stock on the stock exchange

Equitization is an important step that helps BIDV rise to become the leading bank in the industry. Special IPO On 28 December 2011, under Prime Minister's Decision No. 2124/QDTTg, BIDV implemented equitization through initial public offering (IPO) at Hanoi Stock Exchange. The equitization has contributed to realizing the goal of further innovating business governance following standards for a modern commercial bank. The IPO was a great success with all 85 million shares or 3 percent of the bank's charter capital sold out at a price beyond expectation. The above deal was voted as one of the 10 outstanding events of Vietnam stock market in 2011.

The bank’s IPO left a footprint in Vietnam's stock market as it was implemented in the fastest time in just 21 working days after the Prime Minister approved the equitization plan. The IPO saw the largest number of participating investors, with 16,238 investors registering to bid for shares. BIDV was also the first enterprise to apply State audit to audit the corporate value before equitization. After the IPO, BIDV became the enterprise with the highest market capitalization. The transformation into a joint stock commercial bank marks an important milestone in BIDV’s development history, opening up opportunities to improve financial capacity, enhance transparency as well as strengthen brand in the market.

Share listing 2 years after the IPO, BIDV made fundamental developments. As of 31 December 2013, the bank’s total assets

B I D V r e vi e w

In 2013, BIDV completed the issuance of additional 510,032,102 shares worth of VND5,100 billion (USD224 million) to current shareholders and issued long-term bonds worth of VND3,150 billion (USD138.5 million) that met the conditions to be calculated in the tier-2 capital. BIDV successfully implemented many cooperation and investment activities, partnering with MetLife Inc. - the largest life insurance company in the United States, and with Sumitomo Mitsui Trust Bank - the No. 1 trust and asset management bank in Japan, etc. On 24 January 2014, in Ho Chi Minh City, 2,811,202,644 shares of BIDV (ticker: BID) were officially listed on Ho Chi Minh City Stock Exchange (HOSE). BIDV was the 6th joint stock commercial bank and the 354th enterprises listed on HOSE. With the offering price of VND18,700 per share, BIDV’s capitalization accounted for more than 5 percent of the total market’s capitalization. BIDV's share listing has had positive effects on the market in general and the VN-Index in particular, helping attract more foreign investors’ participation in the Vietnamese stock market. For BIDV, the listing on the stock market is an important step

BIDV Highlights

following the successful IPO, ensuring the interests of shareholders and enhances the share liquidity.

Strong growth After 10 years of transforming into a joint stock commercial bank, despite the unfavorable domestic and international economic situations, BIDV continued to maintain stable operations and strong development. In the 2012 – 2021 period, BIDV's profit before tax has grown at the rate of 12.4 percent per year on average. For 2021 alone, the bank’s consolidated pre-tax profit reached more than VND13,602 billion (USD598.4 million), up 50 percent compared to the previous year. After 10 years of equitization, BIDV's total assets reached over VND1.76 quadrillion (USD77.4 billion), 4.3 times higher than 2011, ranking first in the Vietnamese banking system. On average, the bank’s total assets grew at a rate of 15.8 percent per year, much higher than the overall growth rate of the banking industry. BIDV’s own capital has been strongly supplemented over the past 10 years, reaching VND86,367 billion (USD38 billion) in 2021 from 24,390 billion at the end of 2011 or 3.5 times increase. Notably, BIDV has successfully increased its charter capital to more than VND50,585 billion (USD2.3 billion) in 2021 – the highest in the banking industry and 3.9 times higher than the level before the IPO. BIDV’s asset quality has improved over

BIDV and Hana Bank signed a strategic cooperation agreement in 2019 in Hanoi

the years. At the end of 2021, BIDV's non-performing loan ratio under the State Bank’s Circular 11/2021 was 0.81 percent, down 0.73 percent from 2020. BIDV’s bad debt coverage ratio was 235 percent - the highest level in the bank’s history. The equitization not only helps increase financial strength for BIDV but also lays a solid foundation for the bank to cement its position and reputation in the financial market. BIDV's shares set its highest price at VND49,000 (USD2.2) per share on 25 January 2022 (after price adjustment). Compared to the closing price on the first trading day on the exchange, the market price of BIDV's shares has increased by nearly 4.3 times (or an increase of 20.2 percent per year), much higher than the general increase of the VN-Index (nearly 2.7 times). BIDV's shares have always been in the market-leading VN30 Index basket.

April 2022

Currently, BIDV's market capitalization is more than VND242,300 billion (USD10.7 billion), ranking second in the banking industry and fourth in the entire market. In terms of international cooperation, equitization is a “strategic move” that helps BIDV to be more transparent to receive resources and business experience from foreign investors. On 11 November 2019, BIDV and Hana Bank officially signed a strategic cooperation agreement. Hana Bank has become a foreign strategic shareholder of BIDV, owning 15 percent of BIDV's charter capital. This was the biggest M&A deal with a strategic investor in Vietnam's banking industry, marking another important milestone in the bank’s development and international integration. The deal was also honoured as Vietnam's outstanding investment and M&A deal in 2019 – 2020 at an M&A Forum 2020 held in Ho Chi Minh City.

BIDV – 65 years

Yen Van

Deepening international cooperation comprehensive friendship between Vietnam and Laos. The same year, BIDV partnered with QBE Insurance Company Limited (Australia) to establish Vietnam Australia Insurance Company, and then bought all shares of this joint venture to establish BIDV Insurance Corporation (BIC) wholly owned by BIDV in 2005 - an unprecedented event in the country at the time.

BIDV and ADB sign a USD300 million loan agreement in 2018 in Hanoi

With more than 30 years of international integration and cooperation, BIDV has now become the largest financial institution in Vietnam, establishing extensive international relationships.

ver the 65-year journey of establishment and development, experiencing many difficulties and challenges, BIDV has been creative and proactive in finding opportunities in difficulties, continuously reaching out for cooperation and development in the international market. In 1990, BIDV was first allowed by the State Bank of Vietnam to conduct foreign exchange business, international payment, open accounts abroad, and borrow capital in foreign

currencies. In 1992, BIDV started to establish correspondent relationships with banks of Singapore, Malaysia, Japan, and opened foreign currency accounts in USD, Japanese Yen, Pound, and Franc at European and Asian banks. One of the landmarks in the bank’s international business activities during this period was the partnership with Public Bank Berhad Malaysia to establish VID Public Joint Venture Bank in 1992. Through the joint venture, BIDV acquired advanced foreign banking techniques to bring BIDV's operations on par with the level of advanced banks in the world. In 1999, BIDV cooperated with Banque Pour Le Commerce Exterieur Lao Public (BCEL) to establish Lao-Viet Joint Venture Bank based in Laos. The bank has become a symbol of economic cooperation, solidarity and special and

B I D V r e vi e w

BIDV continued to expand and cement its position and prestige in international cooperation through a series of joint venture projects: cooperating with Singapore's Bloomhills to establish a BIDV Tower Joint Venture in 2005 which built BIDV headquarters in the heart of Hanoi capital; partnering with the Foreign Trade Bank of Russia (VTB) to establish Vietnam-Russia Joint Venture Bank in 2006 which has connected the bilateral payment systems and become a symbol of cooperation between Vietnam and Russia; partnering with Vietnam Partners (USA) to establish BVIM Investment Management Company in 2006. In 2013, BIDV forged cooperation with MetLife Inc. - the leading life insurance group in the USA - to establish BIDV MetLife Life Insurance Limited Liability Company, contributing to the expansion of BIDV's insurance activities in both life and non-life business. Another important milestone in the insurance industry is that in 2015, BIDV successfully sold strategic shares at BIC to Canada’s Fairfax Holdings.

BIDV – 65 years

BIDV was one of the first four banks in Vietnam to participate in the Society for Worldwide Interbank Financial Telecommunications (SWIFT) in 1996. The bank cooperated with Singapore’s Silverlake to deploy the Corebanking SIBS system, marking an “IT revolution" at BIDV. In the field of training, Since 2013, BIDV has built and expanded a network of nearly 300 foreign partners/lecturers/experts from almost all continents across the globe. In the period 1996-2000, BIDV gradually increased cooperation with large multilateral organizations such as The World Bank, International Monetary Fund, Asian Development Bank, AFD, EIB, JBIC, JICA, ASEAN Bankers Association, Asian Bankers Association,… BIDV was selected as a wholesale bank to serve big projects of the World Bank such as the First, Second and Third Rural Finance Projects, which were highly appreciated by governments and partners. BIDV is the first Vietnamese commercial bank to open a branch in Myanmar in 2016. The bank partnered with Japan's Sumitomo Mitsui Trust Bank to establish a financial leasing company - BIDV-Sum TRUST Leasing in 2017. On 11 November 2019 in Hanoi, Vietnam, BIDV and Hana Bank (subsidiary of Hana Financial Group) officially entered into a strategic cooperation agreement. Hana Bank has become a foreign strategic shareholder, owning 15 percent of BIDV's charter

Mr. Phan Duc Tu, chairman of BIDV receives the Chairman and delegation of The Hiroshima Bank, Ltd (2019)

capital. This was the largest M&A with a strategic investor in the history of Vietnam's banking industry. In the context of the Covid-19 pandemic, BIDV successfully organized a virtual Annual Meeting of the China - ASEAN Banking Association (CAIBA) in 2020, deepening comprehensive cooperation relationships with member banks. BIDV has pioneered in largescale loans from the world's leading financial institutions and multilateral organizations such as BNP, Citibank, ANZ, MUFG, SMBC, CUB, ICBC, ADB, among others. By the end of 2021, BIDV had established correspondent relationships with over 1120 foreign financial institutions in 131 countries and territories across the globe. BIDV has presence in 6 countries and territories including Laos, Cambodia, Myanmar, Taiwan, Russia, and Czech Republic.

April 2022

BIDV has been recognized and appreciated by the Parties, States and Governments of many countries for its efforts and contributions, evidenced by noble awards and accolades such as Medals and Orders by the Party and State of Laos PDR, of The King and Royal Government of Cambodia, as well as international awards by prestigious magazines such as The Banker, Asiamoney, The Asian Banker, Euromoney,... Over the 65 years of development, BIDV has now established an extensive network of international cooperation. The bank has maintained and deepened the international cooperation activities which have laid solid foundations for BIDV to reach further to the world, becoming a trusted partner of international institutions and organizations, contributing to promoting international integration and cooperation, and enhancing Vietnam's position in the international arena.

BIDV – 65 years

Yen Nguye n

A trusted partner of financial institutions

IDV’s achievements over 65 years of establishment and development are not only represented by business figures but also the support, trust and long-term partnerships with financial institutions both local and international. On the occasion of BIDV’s 65th anniversary, we would like to introduce some of many commentaries on the bank.

BIDV headquarters in Hanoi

B I D V r e vi e w

Photo: Thai Van Hoa

With the motto of growing together, BIDV has become a friend, a trusted and effective partner of domestic and international financial institutions. BIDV is proud to be the first choice in business cooperation activities of financial institutions in Vietnam as well as in the region. The trust and support that partners have for BIDV will continue to be one of the valuable motivations that promote its continuous development in the future.

BIDV – 65 years

Strong partnership sets a good example for companies

n behalf of Hana Financial Group, I would like to extend my sincerest congratulations on 65th anniversary of BIDV.

Since its foundation as Bank for Construction of Vietnam in 1957, BIDV has constantly evolved through various transformations from several changes of brand name to privatization in 2011 to become the largest financial institution in Vietnam with a time-honoured tradition. BIDV also showed excellent performance despite difficult market conditions during the Covid-19 pandemic and I believe it is largely attributable to the excellent leadership and bold decisions of the Chairman and other executive members that helped BIDV reach where it is now. Hana Financial Group has been actively cooperating with BIDV across diverse areas and as your strategic business partner, will continue to support various cooperative works particularly in 6 major sectors that are expected to create great synergy effects including IT&DT, risk management and retail banking. I am ensured that our strong partnership and successful cooperation will set a good example for many other companies in Korea and Vietnam seeking mutually benefiting business opportunities. BIDV also has a good reputation for its strong commitment to CSR activities such as offering loans at low interest rates to businesses affected by the Covid-19 and donations to healthcare institutions. We deeply relate to your CSR commitment as Hana Financial Group has also set a goal to become a leading financial institution in ESG and sustainable services thereby creating positive values in the society. With this goal, Hana Financial Group, as a strategic business partner of BIDV, promises to strengthen its CSR activities in Vietnam.

Hana Financial Group will continue to support various cooperative works particularly in 6 major sectors that are expected to create great synergy effects.

Spring is always a good season to make a fresh new start. I have recently heard that your bank created a new CI symbolizing the values of innovation and prosperity. As Hana Financial Group is also with a newly appointed chairman this year, I believe that we both will see meaningful and welcome changes throughout this spring. Once again, I would like to congratulate on BIDV's 65th anniversary and wish your bank every success as our strong partnership continues. I look forward to seeing you in person in the near future. Ham Young-joo Chairman, Hana Financial Group

April 2022

BIDV – 65 years

Taking a leap toward globally leading banks

n behalf of Hana Bank, I would like to congratulate the chairman and BIDV on the bank's 65th anniversary.

Since its establishment in 1957, BIDV has developed itself as one of the biggest and most successful banks in Vietnam. Starting from the successful IPO, followed by its listing on Ho Chi Minh Stock Exchange, BIDV is now one of the largest banks in Vietnam in terms of asset size with its total asset reaching VND1.76 trillion as of the end of the last year. It is also very meaningful that BIDV was named the Best Retail Bank in Vietnam 2022 by the Asian Banker Magazine for seven consecutive years under its slogan "Bring the best benefit to customers, shareholders, employees, and the community." Again, I would like to extend my heartfelt congratulations to you and the members of BIDV. Hana Bank's investment in BIDV in 2019 was a strategic investment that was the largest in size in the Vietnamese banking industry. BIDV and Hana Bank, based on a solid partnership and a synergy to work as a team, are taking a leap toward globally leading banks. I believe the chairman and the management team's leadership and a strong drive for achievement guided BIDV in the right direction in the face of a difficult business environment in 2021. Moreover, it is very fortunate to have the two banks work together through exchange programs and other activities amid an unprecedented crisis posed by the Covid-19 pandemic. Hana Bank will continue to spare no effort in providing support to BIDV as a strategic business partner and strive to reinforce the partnership between the two banks.

Hana Bank will continue to spare no effort in providing support to BIDV as a strategic business partner and strive to reinforce the partnership between the two banks.

I've heard that BIDV decided to introduce a new CI to incorporate values such as innovation and prosperity in celebration of its 65th anniversary. I fully support BIDV's effort and hard work to create new values in a rapidly changing financial environment with the new CI characterized by emerald green color and apricot flower blossoms of the spring. Once again, I would like to congratulate you on the BIDV's 65th anniversary from the bottom of my heart, and I will greet you during the 65th-anniversary ceremony in April. Park Sung-ho President & CEO of Hana Bank

B I D V r e vi e w

BIDV – 65 years

Strengthening the cooperation

n the occasion of the 65th anniversary of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), on behalf of the Bank for Agriculture and Rural Development of Vietnam (Agribank), I would like to send my best regards to generations of leaders and employees of BIDV. During the journey of development, BIDV has always been a reliable partner and a close companion, cooperating with Agribank in a variety of fields such as connecting bilateral electronic payments, account services, international payment, trade finance, treasury, currency trading, and co-financing... Building on the close and comprehensive cooperation relationship between BIDV and Agribank, I believe that there will be more effective cooperation opportunities for the two to exploit the advantages, strength and competitive capacity of each bank in the Vietnamese and international financial and banking markets. Agribank greatly appreciates the close and long-term cooperation with BIDV and wishes the cooperation between the two banks to be increasingly strengthened and strongly grown in the future. Once again, we wish BIDV to continue to promote its position and role as the leading financial institution in Vietnam, making important contributions to the innovation, integration and comprehensive development of the banking system and the country.

Best regards. Pham Duc An Chairman, Agribank

Building on the close and comprehensive cooperation relationship between BIDV and Agribank, I believe that there will be more effective cooperation opportunities for the two.

April 2022

BIDV – 65 years

Standing side by side in implementing major policies

n the occasion of the 65th anniversary of the Joint Stock Commercial Bank for Investment and Development of Vietnam (26 April 1597 – 26 April 2022), the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) would like to extend our warmest congratulations to you. Over 65 years of establishment and development, BIDV has continuously grown, becoming one of the leading financial institutions in Vietnam with dedicated, professional staffs, advanced technology system and remarkable business performance. Vietcombank and BIDV have been partners in many fields. Built on equality, harmony and mutual trust, this relationship has been increasingly strengthened over time. Cooperation results in treasury, foreign currency, trade finance, and syndicated loans for key socio-economic development projects are proof of the good relationship between the two banks. Besides, as the leading key financial institutions in Vietnam, Vietcombank and BIDV always stand side by side in implementing major orientations and policies of the Party, State, Government and State Bank of Vietnam, pioneering in the exemption and reduction of lending interest rates for customers who are effected by disasters and the pandemic. The two banks have also participated in supporting the restructuring of the system of credit institutions, as well as joining social security activities in localities, thereby making significant contributions to the socio-economic development of the country.

Vietcombank believes that BIDV will constantly grow and maintain its position as one of the leading financial institutions in Vietnam’s financial system.

Building on the achievements over the past 65 years, under the direction and guideline of the Party, Government and regulators at all levels, and the consensus of the leadership and employees of BIDV, Vietcombank believes that BIDV will constantly grow and maintain its position as one of the leading financial institutions in Vietnam’s financial system. We wish the leadership and staffs of BIDV good health, happiness and success and the relationship between the two banks will be further deepened. Pham Quang Dung Board Chairman, Vietcombank

B I D V r e vi e w

BIDV – 65 years

A strong and productive relationship with BIDV

n behalf of ANZ, I would like to congratulate BIDV as it celebrates its 65th anniversary. BIDV has contributed significantly to the economic and social development of Vietnam.

From humble beginnings as the Bank of Construction in 1957, BIDV has evolved into a leading financial institution, both here in Vietnam and across the region, with capabilities spanning the breadth of the industry. ANZ has enjoyed a strong and productive relationship with BIDV since 1993. We have grown our working partnership over the years to cover a broad range of financial products and solutions. On this special occasion, ANZ would like to take the opportunity to wish continued success to BIDV, its staff, management and clients. We hope that together we can continue to play a strong role in Vietnam’s development and continued integration into global trade and investment flows. Jodie West Chief Executive Officer, ANZ Vietnam

We hope that together we can continue to play a strong role in Vietnam’s development and continued integration into global trade and investment flows.

April 2022

BIDV – 65 years

Strengthening mutual business partnership

n behalf of HSBC Bank (Vietnam) Ltd, I would like to extend my warmest congratulations to the Chairman and the entire BIDV team on the joyous occasion of BIDV's 65th anniversary of successful operation.

Your good bank continues to affirm your role and position as the leading financial institution in Vietnam and it has been such a great honor for me to work closely with BIDV senior management and the team. BIDV has a strong reputation for its professionalism, as well as its progress towards becoming a modern and progressive financial institution. It is with the collective dedication and hard work of your entire team that helps it reach the place where your company is today. This year marks 30 years of our long term partnership. We are immensely proud to have been one of the first foreign banks to support BIDV's growth and development, and over the years our relationship has continued to enhance.

We are immensely proud to have been one of the first foreign banks to support BIDV's growth and development, and over the years our relationship has continued to enhance.

Since the beginning, HSBC has been cooperating actively with BIDV across diversified areas, including credit and lending, global payment and cash management, trade finance, treasury activities, bond issuance advisory, and securities services. The close cooperation between two banks has been solidified through many remarkable deals: (1) HSBC acted as Bond Advisor for BIDV's Tier 2 Bond Issuance of VND1,362 billion in 2009 and Bond Advisor, Joint Arranger, and Book runner for BIDV's Tier 2 bond issuance of VND2.1 trillion in 2006 to reinforce BIDV's capital; (2) HSBC's USD200 million structured loan with tenor 5 years in 2012 and (3) By end of 2013, we signed the MOU with BIDV for providing advisory service on international bond issuance to targeted Vietnamese enterprises. Beside transaction banking activities, we are also keen on boosting cooperation with BIDV in treasury business, conventional and/or green bond issuances advisory and equity advisory services. I always trust that there are many more potentials to strengthen our mutual business partnership in the near future through various areas. We strongly appreciate opportunities we have had to do business with your bank over the years and believe we have built solid foundation to support continued growth of both institutions. On this special occasion, we wish BIDV every success as the bank continues to grow. Tim Evans Chief Executive Officer, HSBC Vietnam

B I D V r e vi e w

BIDV – 65 years

A consistent partner along BIDV’s growth

n the landmark occasion of the 65 years anniversary of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) establishment, on behalf of Wells Fargo Bank N.A., we would like to send our heartiest congratulations to BIDV, the Board of Directors, the board of management and all staffs of the bank. Wells Fargo Bank N.A. has its presence through its representative office in Vietnam since 2003, but our relationship with BIDV has started much earlier, in 1996. Looking back the 26 years, we are proud to have BIDV as one of our most important and key partners in Vietnam. Our two banks have been closely co-operating in various areas, including international payments, international trade, trade finance, liquidity management, foreign exchange that benefit BIDV’s customers with high service quality and extensive support across time zones. Over the last 26 years of relationship, it is our privilege to witness BIDV’s growth in becoming one of the regional banks with strong foot hold in Indochina region servicing its clients with modern technology and international standard services, supporting Vietnamese corporate and individual clients doing business in these countries. We are happy to see major milestones of the bank. In our view, BIDV is amongst the few pioneers that lead the curve in transformation in terms of re-organization, transparency improvements, client segment diversification, efficiency focus and innovations. BIDV leaders identified early the importance of the growing private sector and made decision to diverse client focus to Retail and SME, which we view as a strategic decision for future development. BIDV also had early interest in mobile distribution channels and requested WFB for experience sharing. Now, with strong mobile banking infrastructure, BIDV continues to capture market share, grow fee revenue and provide un-disrupted services to clients during the pandemic. We believe that such success stories and achievements are result of committed focus, vision, values and efforts of BIDV management team and all staff members of the bank.

Wells Fargo remains committed to add value to the partnership through its range of products and services, as appropriate, to support BIDV servicing its clients.

Wells Fargo has been a consistent partner along the development stages of BIDV, servicing and supporting its Head office and overseas subsidiary. Wells Fargo remains committed to add value to the partnership through its range of products and services, as appropriate, to support BIDV servicing its clients. Last but not least, we appreciate and would like to thank BIDV for the business relationship and partnership that BIDV have been extending to our Vietnam team. We wish every Success and Prosperity in BIDV’s new stage of development and many more milestones. Jafar Amin EVP, Regional President, Head of Corporate & Investment Banking, Asia Pacific Wells Fargo

April 2022

BIDV – 65 years

Building a sustainable partnership of mutual benefits

tandard Chartered Bank would like to extend our warmest congratulations to BIDV on the Bank’s 65th anniversary of establishment. BIDV has made impressive achievements over the years, which have strengthened the Bank’s position as one of the top financial institutions in Vietnam, a bank that goes along with the developments of Vietnam’s banking industry and its economy. BIDV’s successful IPO in 2011 and listing on Ho Chi Minh Stock Exchange (HoSE) in 2014 have opened the glory path of continuous successes in the Bank’s equitization process. The establishment of BIDV MetLife joint venture in 2014 has created a trusted insurance company. The landmark M&A deal in the banking history between BIDV and KEB Hana Bank in 2019 was also an essential milestone of BIDV, equipping the Bank with important resources to facilitate its growth path and global integration through the improvement of management ability, risk control and competitiveness and better economic efficiency via larger scale.

Leveraging our best-in-class international capabilities and expertise, we are committed to being a trusted partner of BIDV and providing you with meaningful support as you seek to realize your ambitions in Vietnam and overseas.

We are proud of our long-term relationship with BIDV and are inspired by your vision in and commitment to providing high quality financial services for customers, as well as bringing values for your shareholders and benefits for your employees both domestically and internationally. We are impressed with the expansion of your branch network – nearly 1,100 branches across Vietnam – and your active operations in Laos, Cambodia, Myanmar, Taiwan, Russia, and Czech Republic. We strongly believe that BIDV will continue to achieve great success in the time to come and be able to fulfil your ambitions. Standard Chartered is a leading international banking group, with a presence in 59 of the world’s most dynamic markets and serving clients in a further 83. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good. We have been operating in Vietnam for over 118 years and remain confident in the country’s long-term prospects. We are pleased to have had the opportunities to coordinate with BIDV in several initiatives and projects, including international clearing service, international trade financing, commercial lending, capital market services and other global market products.

B I D V r e vi e w

BIDV – 65 years

With a shared focus on supporting the wealth and prosperity of clients, the two sides have built a sustainable partnership of mutual benefits, which we greatly value. BIDV has been a pioneer in multiple aspects of banking services, especially in international payment and global trade financing, which have brought quality products and services to clients. Standard Chartered is proud to be a partner of BIDV in many projects. For example, we collaborated to proceed a huge volume of UPAS LC transactions and introduce UPAS LC Discounting product in 2021. Or BIDV was the first local bank to perform the first live BLOCKCHAIN cross-bank letter of credit transaction between Vietnam and Thailand in 2020. This transaction was completed with coordination among Standard Chartered Bank Vietnam, Bank for Investment and Development of Vietnam (BIDV), Asian Development Bank (ADB) and Standard Chartered Bank (Thai). We are also delighted to join hands with BIDV to promote sustainable development in Vietnam via sustainable financing transactions such as L/C issuance for wind power projects with total value approximately USD246million. In capital and financial market segment, BIDV was the first State-owned bank to raise fund via offshore syndicated loans for over last 10 years with the support from Standard Chartered as a mandated lead arranger and book runner. BIDV was also one of the pioneer banks with active participation in the derivatives market. Leveraging our best-in-class international capabilities and expertise, we are committed to being a trusted partner of BIDV and providing you with meaningful support as you seek to realize your ambitions in Vietnam and overseas. Once again, may I extend our heartfelt congratulations to BIDV on your remarkable achievements over the past 65 years. We wish you continued success and further development in your journey to support Vietnam’s sustainable development. We look forward to strengthening our partnership. Wee Sung San Michele Chief Executive Officer, Standard Chartered Vietnam

April 2022

BIDV – 65 years

Forging a sustainable future for all

n behalf of UOB, we would like to extend our congratulations to the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) on the 65th year anniversary of establishment. We are honoured to be a part of this significant milestone and have the opportunity to celebrate this special occasion with BIDV. We have seen BIDV grow from strength to strength from year to year to become a leading financial institution in Vietnam. As one of BIDV's long standing partner, we continue to build on this partnership through mutual collaboration, assisting to diversify BIDV's funding sources and ensure effective balance sheet management with different solutions from across UOB's suite of products and services. This reinforces our long-standing relationship with BIDV, as we remain committed to collaborate with you and clients across the region and contribute to the growth and development of the economy. As BIDV continues to grow, UOB is committed to work with like-minded organisations and partners to bring positive impact to the wider community to achieve common business objectives. We look forward to deepen our long-term partnership. Together, we can forge a sustainable future for all. We wish BIDV a long journey of success in the years to come. Harry Loh Chief Executive Officer, UOB Vietnam

As BIDV continues to grow, UOB is committed to work with likeminded organisations and partners to bring positive impact to the wider community to achieve common business objectives.

B I D V r e vi e w

BIDV – 65 years

A pioneering bank in Vietnam’s financial market

n behalf of Vietnam Prosperity Joint Stock Commercial Bank (VPBank), I would like to congratulate BIDV on the outstanding achievements over the past 65 years of operation. We highly appreciate the cooperation relationship between VPBank and BIDV, and hope this relationship will continue to flourish in the future. VPBank and BIDV have established an extensive and comprehensive cooperation relationship in many fields such as trade finance, financial markets, account services, particularly rural finance projects I and II, and VNSAT project on sustainable rural development. BIDV is currently one of the leading banks providing credit limit to VPBank to serve the Bank’s liquidity needs as well as finance corporate customers’ transactions. Regarding account and payment services, VPBank is now effectively using BIDV’s multilateral payment channel to serve its customers’ domestic payment needs. Currently, BIDV is the second largest payment channel of VPBank after the State Bank of Vietnam.

VPBank and BIDV have established extensive and comprehensive cooperation relationship in many fields.

In the coming time, VPBank will expand cooperation with BIDV in new areas such as project co-financing, bond issuance advisory and distribution, and establishing cooperation relationships with member companies of VPBank, etc. VPBank has appreciated BIDV’s potential as a pioneering and leading bank in Vietnam’s financial market. On the 65th anniversary of BIDV, I wish BIDV continued success in the next journey and hope that the relationship between the two banks will further develop to a new level in 2022. Nguyen Duc Vinh Chief Executive Officer, VPBank

April 2022

BIDV – 65 years

A typical member of Vietnam’s stock market

ver the past 21 years of development, Vietnam's stock market structure has continuously improved, developed strongly to become a considerably large market (compared to GDP) in the region, contributing to developing the national financial system in a more balanced and sustainable direction and gradually becoming an important capital mobilization channel for the economy. The Vietnam Securities Depository (VSD) - one of the market operators, and the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) - a depository member of VSD, a settlement bank for underlying securities transactions, and a custodian bank for fund services, have also made significant contributions to this development. Since the launch of the Vietnam’s stock market, BIDV has always performed well its role as a depository member as well as a partner working closely with VSD in payment activities for underlying securities transactions, a custodian bank for fund services, ensuring these activities are safe and smooth.

Since the launch of the Vietnam’s stock market, BIDV has always performed well its role as a depository member and a custodian bank.

As a payment bank for the underlying stock market, BIDV is the first bank pioneering in participating in the stock market as a payment bank. Over the past 21 years, BIDV has worked with VSD to make payments for underlying securities transactions in more than 5,000 trading sessions with a total payment value of up to quadrillions of VND in an accurate, safe, and timely manner, ensuring interests for market members. This is a remarkable result as the market's transaction and payment size increases, which is always accompanied by potential insolvency risks as well as the complicated developments of the Covid-19 pandemic, causing difficulties in clearing and settlement activities for both VSD and BIDV. However, with BIDV’s proactive coordination, payment activities for securities transactions in particular and clearing and settlement activities in general have been ensured to be smooth and safe. In the coming time, following the stock market development roadmap as approved by the regulators, BIDV continues to be an important partner of VSD in the implementation of clearing and settlement activities for underlying securities transactions according to the central counterparty (CCP) model, contributing to removing problems in upgrading the Vietnamese stock market as well as developing payment activities for securities transactions according to a more advanced model, approaching international practices. As a depository member, BIDV is one of the banks registering to be VSD's member since the beginning of the stock market with securities depository operations. BIDV's customer base is diverse, including individual investors and various types of institutional investors. In the process of securities depository operations, BIDV always complies with the securities laws and VSD's business regulations. BIDV has also

B I D V r e vi e w

BIDV – 65 years

contributed positive inputs to the process of building a mechanism for the development of the stock market in general, and the VSD's professional guidance regulations in particular. In addition, BIDV is one of the depository banks pioneering in researching, developing and providing new products and services to the market. BIDV is now the only custodian bank that provides full services for all types of funds, from exchange-traded funds (01 fund), open-ended investment funds (14 funds), closed investment funds (03 funds) to voluntary supplementary pension funds (02 funds), accounting for 37 percent of the number of investment funds VSD is providing services to. BIDV plays an active role in participating in the implementation of value-added services and new features of VSD's fund service delivery system. BIDV is the first custodian bank that researches and tests the connection via the online communication portal with the open fund transfer agent system; is the second custodian bank to participate in providing services for the voluntary supplementary pension fund which has been launched in 2021. BIDV's custodian activities have contributed to increasing transparency in the market, ensuring the interests of investors. It can be said that, with the above-mentioned contributions to the stock market, BIDV deserves to be a typical member of Vietnam's stock market in all roles it takes. This is evidenced by prestigious awards and recognitions by the State Securities Commission of Vietnam and Vietnam Securities Depository. On the occasion of the 65th anniversary of BIDV, we would like to extend our warm and sincere congratulations to the leadership and staffs of BIDV on the achievements on its proud journey. We wish BIDV continued and stronger growth, hoping that the bank will continue to closely with VSD to perform well its role in professional activities related to the stock market. . Duong Van Thanh Chief Executive Officer, Vietnam Securities Depository

The headquarters of VSD

April 2022

BIDV – 65 years

Valuing the good partnership with BIDV

022 marks an important milestone in the establishment and development of the Joint Stock Commercial Bank for Investment and Development of Vietnam – the 65th anniversary, a journey of continuous growth of the longest-established commercial bank in Vietnam. SSI Securities Corporation would like to take this opportunity to extend our congratulation to the leadership and staffs of BIDV. We value the good partnership with BIDV and greatly appreciate your contributions to the overall development of Vietnam’s stock market in recent years, serving as a clearing bank for the underlying stock market, as well as providing other products and services to serve our company’s needs. BIDV is a major partner of SSI in many investment activities in deposit, valuable papers and credit. The bank has been accompanying SSI on maximizing the quality of products and services provided to investors. We believe that the two sides will continue to reap fruitful results thanks to this strong and meaningful cooperation relationship. On the occasion of the bank’s 65th anniversary, SSI would like to wish your good bank stronger growth, upholding your position as a leading bank in Vietnam with significant contributions to Vietnam’s economic development. Nguyen Hong Nam Chief Executive Officer, SSI

We value the good partnership with BIDV and greatly appreciate its contributions to the overall development of Vietnam’s stock market.

B I D V r e vi e w

BIDV – 65 years

Q u ang Minh

New regulations effective in April In April, a number of new legal regulations will take effect. Below are two circulars on supervision and evaluation of foreign investment activities, and independent audit of credit institutions, and foreign bank branches.

Changes to independent audit of credit institutions, foreign bank branches Supervision and evaluation of foreign investment activities The Minister of Planning and Investment issued Circular No.02/2022/TTBKHDT dated 14 February 2022 guiding the supervision and evaluation of foreign investment activities in Vietnam. The circular takes effect on 1 April 2022 and replaces Circular 09/2016/TT-BKHDT dated 30 June 2016. The circular stipulates the principles for foreign investment management, one of which is not to hinder or affect the normal operations of foreigninvested organisations and projects during the process of supervision and evaluation. Accordingly, the circular is applicable to state management agencies related to foreign investment activities, including ministries, ministerial-level agencies, provincial-level People's Committees, investment registration agencies, agencies tasked with state management of investment in accordance with legal regulations on investment, foreign-invested economic organisations and projects operating in Vietnam. The Circular stipulates the contents of the final assessment, including: Progress on capital contribution to the charter capital by foreign-invested economic organizations, legal capital, capital contribution for investment in foreigninvested projects; the mobilization and use of mobilized capital in accordance with the provisions of law; project implementation project progress against the prescribed schedule; the use of land and labor of the project; the compliance with legal regulations on environmental protection; the fulfillment of financial obligations to the state; the implementation of the goals, mobilized resources, implementation progress, and project benefits, etc.

April 2022

The State Bank of Vietnam issued Circular No.24/2021/TT-NHNN dated 31 December 2021 amending and supplementing a number of articles of Circular No. 39/2011/ TT-NHNN dated 15 December 2011, providing for independent audit of credit institutions and foreign bank branches. The circular takes effect on 15 April 2022. The new circular amends and supplements a number of provisions in order to ensure consistency with the new regulations on the independent audit as stipulated in the amended Law on Credit Institutions and Government’s Decree No. 26/2014/ ND-CP dated 7 April 2014 on the organization and the operations of the Banking Supervision Agency. The amendments and supplements also aim at addressing the current difficulties and obstacles encountered in the implementation by credit institutions, foreign bank branches, as well as audit firms.

Policy update

Phuong Huyen

BSC to issue shares to foreign strategic investor maintained its pioneering position in providing innovative financial products and services. In 2021, BSC was honoured by domestic and international organizations with awards such as “Best Investment Management Company in Vietnam" by Global Banking and Finance Review; Top two securities companies with best brokerage service for research by AsiaMoney. Hana Financial Investment Co., Ltd (HFI) is a member of Hana Financial Group - one of three largest financial groups in South Korea, ranking 71st in the list of Top 1000 largest banks and financial groups in the world by The Banker in 2021.

On 10 March 2022, the Board of Directors of BIDV Securities Company (BSC) issued Resolution No. 223/NQ-BSC approving share transaction with a foreign strategic investor.

ccordingly, BSC will issue 65,730,042 shares as private placement to Hana Financial Investment Co., Ltd (HFI). With the share purchase, HFI will hold a 35 percent stake in BSC. Total value of the transaction is approximately VND2.700 billion (equivalent to USD119 million). This provides an important financial resource for BSC to boost its business activities, invest in information technology, digital transformation, and develop financial service and investment banking ecosystem. HFI invests in BSC as a strategic investor, committing for long-term support and cooperation in BSC’s business development and corporate governance. BIDV Securities Company (HoSE: BSC) was established in 1999. BSC has

B I D V r e vi e w

HFI was established in 1968 and is an unsurpassed leader in asset management with many industry firsts, including Korea’s first investment trust service and investment fund. It became a mega-size investment bank (IB) after two paid-in capital increases in 2018 and 2020, bringing capital up to KRW4 trillion (equivalent to USD3,200 million). HFI is growing into Asia’s top IB gaining the attention of global investment circles through leveraging the Group’s network. As of 31 December 2020, HFI had total assets of USD28.5 billion and equity of nearly USD3.61 million. The alliance between BSC - a securities company with more than two decades of operation, and HFI - a member of a leading financial group in Korea, will open up new development opportunities for BSC. BSC and HFI will carry out necessary procedures in accordance with the laws of the two countries to complete the above deal.

partners

L e Yen

BSL named Trusted Financial Services Provider BIDV-SuMi TRUST Leasing Co., Ltd (BSL) has won the award “Trusted Financial Services Provider” at Golden Dragon Awards for the first time thanks to its outstanding achievements in the Vietnamese financial leasing market.

his year’s Golden Dragon Awards honoured top 50 foreign-invested enterprises in Vietnam for green growth and sustainable development in 2021 - 2022. According to BSL Deputy Chief Executive Officer Mr. Takahashi Satoshi, being recognised at this year’s awards further cemented the company’s vision of becoming the best companion it can be by working closely with customers and continuing to contribute to Vietnam’s prosperity and sustainable development. “We focus on building trust and developing relationships with our customers, and have cooperated with leading machinery suppliers in Vietnam”, said Mr. Takahashi. “Over the past five years, we have supported nearly 500 small and medium-sized enterprises (SMEs) around the country, to meet their needs in financial support.” The Golden Dragon Awards has been hosted by Vietnam Economic Times since 2001 to recognise the outstanding contributions made by foreign-invested enterprises to the Vietnamese economy. Awards are

Mr. Takahashi Satoshi, BSL Deputy Chief Executive Officer represents the company to receive the award

determined based on production and business activities, service provision, the application of technological solutions for environmental protection, full implementation of tax obligations, employee benefits, and active participation in social activities. Officially launched in 2017, BSL - a joint venture between two leading banks in Vietnam and Japan - the Bank for Investment and Development of Vietnam JSC (BIDV) and Sumitomo Mitsui Trust Bank - has been one of the leading financial leasing companies. It provides professional financing solutions for the SME market in Vietnam. In 2017, BSL was named “Private Equity Deal of the Year 2016-2017” as voted by M&A Vietnam 2017 Forum.

April 2022

In just five years, BSL has achieved dramatic and rapid growth, with total leased asset value reaching nearly USD255 million, particularly more than USD80 million in 2021 with the CAGR reaching 80 percent per year, serving nearly 500 enterprises whilst the majority is SMEs. Recently, BSL has signed a syndicated facility agreement with 3 branches of foreign banks in Vietnam, which is one of the first domestic syndicated facility agreements between banks and a financial leasing company. This is an important signal, recognizing a positive change in the financial leasing market, opening up opportunities for sustainable development of SMEs in Vietnam.

partners

Dzu ng Pham

BIDV-SuMi TRUST Leasing: 5 years moving forward potential for financial leasing activities in Vietnam. The establishment of the joint venture BSL – the fruitful collaboration of the two leading financial institutions of Vietnam and Japan - is also expected to be a symbol of long-term relationship between the two countries. As with new start-ups, the BSL ship was launched facing countless waves and storms. Its captain was required to stay focused and persistent to move forward regardless of unpredictable challenges over the past 5 years.

The management team of BSL

BIDV-SuMi TRUST Leasing Co. Ltd (BSL) turns 5 in 2022. Over the past five years, the company has rendered relentless efforts, overcoming enormous challenges for start-ups, especially joint ventures. BSL is ready to make greater strides on the path ahead.

Be better every day It took BSL’s establishment project unit nearly a year to prepare for and complete licensing procedures for the operation approval by the State Bank of Vietnam. On 8 September 2017, the opening ceremony of BSL was held in Hanoi under the presence of leaders of the State Bank of Vietnam, senior executives of BIDV and Sumitomo Mitsui Trust Bank (SuMi TRUST). The event marked a significant milestone in the company’s history, and unlocked

B I D V r e vi e w

The early days were filled with many challenges such as language barriers, difference in business culture and practice, lack of human resources and capital as well as fierce competition from “big names” in the market and high expectation from customers. Nevertheless, those challenges could not impair the will of the BSL people. The company turned challenges into opportunities, working together to find solutions to them. With the spirit of "Being better every day", the company staffs have devoted every effort to finding the best solutions for its partners and the company itself.

Fostering agility The first 3 years of establishment is considered as a fundamental stage for

partners

The opening ceremony of BSL in 2017

a company. If a company can overcome this stage, it means that they may grow sustainably afterward. It can be said that BSL has successfully overcome this stage with a solid and appropriate business development strategy. The company has focused on risk management and governance system with policies and regulations close to advanced practices. Considering people development as vital to development, the company emphasizes on developing personnel with skills and knowledge to operate the system. BSL has successfully completed the goals set for the first 3 years, maintaining 2-digit growth and was profitable from the third year. It can be affirmed that BSL team has always adhered to the business principles and goals, followed the set path to overcome the early years of volatility and turned opportunities into profits. As business situation showed signals of improvement since mid-2019 with BSL building a good system, enriching experiences in the market, and employing a qualified human resource, the Covid-19 pandemic has taken its toll on the economy and society as a

whole. The global economy has never been in such a difficult situation. At BSL, no business scenarios had been built for this unexpected pandemic. The company set a strong growth target in 2020 after 03 years of operation. 5 years of operation with 2 years of the pandemic, there are no words that can fully describe the feelings of the company leaders during that period. There is one thing that the agility has steered the “BSL ship” overcome all the difficulties and find new opportunities. BSL is now more mature and stable than ever as the world and Vietnamese economies are recovering from the pandemic.

Looking ahead History can make BSL people proud and strong-willed, but it cannot guarantee a bright future. The will and consensus of those who are steering the “BSL boat” are powerful engines that bring the ship out to sea towards new horizons. There will be more “5 years” with new opportunities as well as new challenges. There is a saying that “No man ever steps in the same river twice, for it’s

April 2022

not the same river and he’s not the same man.” The world is changing every day, and everything is evolving to become better. BSL has defined new vision, new goals with new personnel joining the company. BSL said it is the decisive moment for the company to move forward with higher vision, act more aggressively to achieve challenging goals. BSL with the support from BIDV and SuMi TRUST - the two leading banks of Vietnam and Japan is determined to reach further, operating sustainably and surpassing expectations. The strength from the core values of the company is the key to BSL to cement its position in the market.

The company has been profitable since 2019, just after more than 1 year of opening. As of 31 December 2021, BSL had employed 122 staffs, serving 430 customers with outstanding loans of VND2,700 billion (USD119 million). BSL has been provided large credit facilities from credit institutions both domestic and foreign.

partners

Manh Hai

An indispensable part of BIDV ecosystem

BIDV and BIC have defined new positions in cooperation on bancassurance. The mindset about the role of insurance in banking operations has undergone comprehensive changes. Fruitful results In August 2019 in Nha Trang City, BIDV Insurance Corporation (BIC) held a conference on bancassurance with the participation by the leadership and key staffs of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and BIC. The conference has comprehensively

changed the mindsets of the BIDV and BIC systems about the role of insurance in banking operations.

cooperation relationship between BIDV and BIC, demonstrating the mutual understanding of benefits as well professionalism in business activities.

In 2019 and 2020, BIC’s bancassurance revenue growth rate was over 70 percent per year. In 2021, the bancassurance revenues exceeded VND700 billion, up to 33 percent over the previous year, significantly contributing to BIDV’s net service income. BIC’s insurance activities at BIDV aim to ensure the interest and safety for BIDV and its customers, a humane sharing of difficulties in case an unfortunate event occurs.

BIC leadership always spends the best resources on developing bancassurance operation. The quality compensation and customer care have continuously improved. BIC’s insurance products are developed to be a truly competitive advantage of the banking product and service package, bringing practical benefits to customers and suitable for the business activities of BIDV and BIC.

BIC is both a subsidiary and a major business partner of BIDV. Becoming a partner is an enhancement in the

Mr. Phan Duc Tu - Chairman of the Board of Directors of BIDV commented on BIC’s performance

B I D V r e vi e w

partners

The company’s business results have increasingly improved, affirming its position in the non-life insurance market and in the BIDV system. BIC has made significant contribution to BIDV’s business results in 2021 and created more resources for BIDV to continue growing faster and stronger in the years to come”. The BIDV Chairman also highly appreciated BIC’s insurance products, particularly the BIC Care, which has provided practical support to BIDV’s staffs and customers during the pandemic. The company helped maintain the system’s good business continuity and ensured the best customer service.

Moving forward

A seminar on bancassurance between BIDV and BIC

at the company’s conference on business plan implementation for 2022 which took place on 18 February 2022. Accordingly, the BIDV chairman spoke highly of the achievements that BIC has gained in 2021 as well as its contributions to the BIDV system over the years. Mr. Phan Duc Tu emphasized: “In 2021, BIDV successfully excelled at all business targets from scale, structure, quality and portfolios and BIC contributed an important part to the bank’s overall success. 30 months after the conference in Nha Trang City, BIC has made positive changes in mindset and methodology in governance and management, creating a new working atmosphere and direction.

Bancassurance development is an inevitable trend providing harmonious benefits for customers, banks and insurance companies. In particular, customers will be provided with “onestop” financial services at competitive prices. Customers and banks will enjoy increased financial protection from the insurance company’s products and services, which improves customer loyalty as well as sharing with customers’ difficulties in case of any unfortunate insurance events, and reducing bad debts for banks. For insurance companies, partnerships with banks will help them take advantage of the strength of banks’ brand name and customer base to develop their business activities. Regarding partnership between BIDV and BIC, the Board chairman of BIDV has affirmed: First of all, BIDV determines that insurance will continue to be one of the key pillars

April 2022

Mr. Phan Duc Tu, Chairman of BIDV

in the business ecosystem of the whole system. Secondly, BIC needs to position itself in the market, make more innovation in business mindset, and develop a development strategy with higher growth in the coming time to meet the expectations of shareholders, employees, customers, and society. Thirdly, BIC needs to focus on improving product quality and customer services, promoting comprehensive digitalization to serve customers better. The company also needs to strengthen internal management, cement its brand, image, and position in the insurance industry and in BIDV system. Fourthly, BIC needs to take advantage of the two major shareholders – BIDV and Fairfax – to promote bancassurance activities. The Chairman of BIDV Mr. Phan Duc Tu heightened his expectation that BIC will make great changes as set in the business plan until 2025 in line with the golden words “Innovation, Creation and Sustainable Development” in all activities to reach new heights.

market movements

Hu ong Tran

FDI disbursement hits five-year high In the quarter, total means of payment increased by 2.49 percent compared to the end of 2022. Capital mobilized by credit institutions increased by 2.15 percent while credit growth reached 4.03 percent.

Binh Duong province leads FDI attraction in Q1 2022.

Disbursement of foreign direct investment to Vietnam rose by 7.8 percent compared to 2021 to USD4.42 billion in the first quarter of this year, a five-year record.

continued to maintain the policy rate unchanged which created favorable conditions for credit institutions to further reduce lending rates and support the economic recovery. The insurance sector maintained stable growth. Premium revenue of the entire insurance market in the first quarter of 2022 was estimated to increase by 13 percent year-on-year, of which premiums from life insurance increased by 15 percent and the nonlife increased by 9 percent.

In the first quarter of 2022, given the difficulties caused by the Covid-19 pandemic, the State Bank of Vietnam

The stock market had positive prospects with market capitalization growth estimated to increase by 28 percent year-on-year. Average trading value per session in the first quarter of 2022 was VND31,409 billion (USD1.38 billion), up 18.1 percent year-on-year. There are 768 listed stocks and fund certificates, and 882 stocks on Unlisted Public Company Market or UPCoM.

ccording to Vietnam General Statistics Office, 322 foreign projects were newly licensed with total registered capital of USD3.21 billion in the first quarter of 2022, up 37.6 percent in the number of projects but down 55.5 percent in capital year-on-year. Foreign investors poured USD1.63 billion into 734 deals, up 102.6 percent in value compared to the same period last year.

B I D V r e vi e w

Export turnover in the first quarter was estimated at USD88.58 billion, up 12.9 percent compared to the same period last year, of which foreign invested sector (including crude oil) was USD65.31 billion, accounting for 73.7 percent. Import turnover was estimated at USD87.8 billion, up 15.9 percent year-on-year, of which the FDI sector made up USD58.34 billion, an increase of 17.1 percent. Among the 18 sectors receiving funds in the first quarter, processing and manufacturing took the lead with USD5.3 billion, accounting for 59.5 percent of total registered FDI. It was followed by real estate with over USD2.7 billion, making up 30.3 percent, science and technology (USD200.4 million), and power generation and distribution (USD194.6 million). In the quarter, Singapore was Vietnam's leading foreign investor with nearly USD2.29 billion, making up nearly 25.7 percent of the total registered FDI. South Korea followed with more than USD1.61 billion or 18 percent, and Denmark with USD1.32 billion or 15 percent.

market movements

Van D ang

BIDV - the largest bond issuer in Vietnam turned to the bond market to raise funds. The top 30 corporate issuers had aggregate LCY bonds outstanding of VND358.7 trillion (USD15.7 billion) at the end of December 2021, accounting for 59.8 percent of the total LCY corporate bond market. About 75 percent of the top 30’s debt stock was issued by banks, totaling VND275.4 trillion (USD12.1 billion), while property firms had the secondhighest share at 13.2 percent (VND47.3 trillion).

The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) was the largest issuer among the top 30 list with total bonds outstanding of VND37.2 trillion (USD1.63 billion) at the end of the fourth quarter of 2021.

ccording to ADB’s Asia Bond Monitor report released in March 2022, Vietnam’s local currency (LCY) bond market grew 9.8 percent quarter-on-quarter (qoq) to reach VND2,089.1 trillion (USD91.5 billion) at the end of December 2021. The quarterly growth was driven by both government and corporate bonds, with outstanding bonds in these segments increasing 5.3 percent qoq and 22.7 percent qoq, respectively. Outstanding government bonds and corporate bonds comprised 71.3 percent and 28.7 percent of the LCY bond market, respectively, at the end of December 2021. Corporate bond issuance in Vietnam jumped 30.8 percent qoq in the fourth quarter (Q4) of 2021 to VND123.4 trillion (USD5.4 billion) as more firms

April 2022

All firms with more than VND10 trillion (USD439 million) of outstanding bonds were from the banking sector except for the Masan Group. The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) was the largest issuer among the top 30 list with total bonds outstanding of VND37.2 trillion (USD1.63 billion) at the end of Q4 2021. In November 2021, the State Bank of Vietnam issued Circular No. 16/2021/ TT-NHNN on the purchase and sale of corporate bonds by credit institutions and foreign bank branches. In particular, credit institutions may not buy corporate bonds in the following cases: firstly, to restructure the debts of the very bond issuer; secondly, to contribute capital or buy shares at other enterprises; and thirdly, to raise working capital. A credit institution may purchase corporate bonds only when its non-performing loan ratio is under 3 percent.

products & services

Va n P ham

Free tax payment on eTax Mobile and provide the best utilities to people and businesses but also marks an extremely important step forward, contributing to the digital transformation of the tax and finance sector in particular and the national digital transformation generally.

Mrs. Nguyen Thi Quynh Giao, Senior EVP of BIDV at the announcement ceremony of eTax Mobile

On 21 March, BIDV worked with the General Department of Taxation to deploy personal electronic tax/fee payment service via eTax Mobile application, contributing to accelerating the digital transformation of the tax industry.

he eTax Mobile application is deployed on mobile devices for individual taxpayers using iOS and Android systems. Customers download the eTax Mobile application to their mobile devices, then register for an account, declare and verify user information, then look up and select the tax/fee payable. On the payment screen, customers choose BIDV and complete steps like a normal financial

Mrs. Nguyen Thi Quynh Giao, Senior Executive Vice President of BIDV, said: “As one of the leading financial institutions in Vietnam, BIDV has always pioneered in implementing the direction by the government and ministries, closely working with regulators, and accompanying people and businesses. BIDV is honoured to be the first bank to complete the integration of tax payment feature on this application. With eTax Mobile, BIDV has the chance to provide free-of-charge tax payment service to its 16 individual customers as well as over 60 individual customers with tax codes on the app”. In recent years, BIDV and the General Department of Taxation have coordinated to deploy many effective public services, such as a portal for electronic payment, tax and fee payment on the e-banking application, and on the national public service portal.

transaction. After completing the transaction, eTax Mobile returns the transaction result to the customer. If the transaction is successful, customer clicks to download the electronic tax/ fee payment document and close the transaction. Minister of Finance Mr. Ho Duc Phoc said: The launch of the portal for foreign providers and introduction of eTax Mobile application not only helps strengthen the strict management of tax collection to the State budget

B I D V r e vi e w

Employing a modern technology platform, professional staffs, diversified products and services, and a wide operating network, BIDV has well met the needs for banking products and services. The effective cooperation between BIDV and tax, treasury and customs units creates favorable conditions for both individuals and businesses, contributing to promoting noncash payment according to the government’s policies.

products & services

Oa nh Phan

Free account - Bank your way In addition, BIDV also offers 50 percent fee reduction of trade finance, international money transfers and preferential exchange rates up to 30 points for customers making transactions on digital channels. BIDV also waives service fees for connecting enterprises’ systems with BIDV (ERP - BIDV iBank connection, online bill payment, Electronic collection and payment, virtual accounts). BIDV also allows customers to choose an account number, free of charge for accounts with number choice up to 4 digits and 50 percent fee reduction for accounts with number choice up to 7 digits. In addition to the above fee reductions, BIDV offers financing programs with competitive interest rates as well as provide advice on financial and banking solutions suitable for customers.

On the 65th anniversary, BIDV is launching “Free account – Bank your way “promotion program for corporate customers.

he program is valid until 31 March 2023. Customers are not required to maintain account balance, just open or reactivate an account at BIDV, then will be exempted from annual fee, money transfer fee, payroll fee, statement-based payment fee on BIDV iBank as well as many other attractive incentives. Customers can experience modern e-banking and many outstanding utilities on BIDV iBank such as 24/7 money transfer, real-time account data aggregation, automatic tax and fee payment, payment management by customer groups, flexible centralized cash-flow management, and smooth and secure connection.

April 2022

For further information, please contact your nearest BIDV transaction office or call the bank’s hotline via 19009247 or visit the website at bidv.com.vn.

BIDV has received positive evaluation on its products and service from domestic and foreign organizations and business community. In 2021, BIDV was honored as “No.1 Wholesale Bank of the Year”, “Best SME Bank in Southeast Asia” by Global Banking & Finance Review, “Best SME Bank in Vietnam” for 4 consecutive years 2018-2021 by Asian Banking & Finance and Alpha Southeast Asia). BIDV iBank was named by Global Banking & Finance Review as “Vietnam’s Most Innovative Digital Bank”.

lifestyle

L i nh Thuy

Famous waterfalls in Vietnam Vietnam is impressive with not only stunning sandy beaches, mesmerizing caves, vast paddy fields,.. but also majestic waterfalls where you can find soothing moments in the wild nature. Ban Gioc Waterfall Ban Gioc Waterfall is well-known as the largest one in Southeast Asia, and the most stunning in Vietnam. The waterfall has a special location on Quay Son River, between Vietnam and China, featuring spectacular landscapes like a fairyland. It is over 60m high with the longest slope of

Ban Gioc Waterfall

Dray Sap Waterfall

Dray Sap, a waterfall in Dak Nong province, is 12m high and 140m wide, featuring poetic and gentle beauty. The waterfall is surrounded by gigantic forests, dotted by black stones along the shore. Right at the foot of the mountain are rapids in unique shapes, outstanding in the shallow turquoise water. Walking along the route near the cliffs, tourists will reach a clear spring, where they can have a bath and immerse themselves in cool water, and listen to the echoes of birds, rustling leaves, and the soothing sounds of the running spring, which is extremely relaxing.

Dray Nur Waterfall 30m, divided into many continuous limestone layers, which spread up to 100m. The water pours down quickly and strongly, creating incredible white foams. In summer, the waterfall seems calmer, boasting its poetic and

serene beauty, highlighted by ripe paddy fields and plum forests, which makes it more romantic. Tourists can admire the utmost beauty of the whole waterfall when sitting on the raft going around the foot of the mountain.

B I D V r e vi e w

Dray Nur, stemming from the majestic river of Serepok, is a tourist spot in Dak Lak with miraculous nature, pristine forests, and splendid caves. The waterfall is about 30m high, and

lifestyle

Dambri Waterfall

Dray Nur Waterfall

250m long, considered as the most beautiful and largest of the three waterfall systems in the Krong An District. At the foot of the waterfall is a turquoise and poetic lake, which is miraculous by white foams created by a fast pouring waterfall from the height of 30m. There is also a deep mysterious cave disguised behind the waterfall, which has an area of 300m2.

Silver Waterfall

Silver Waterfall Thac Bac or Silver Waterfall situated at the foot of O Quy Ho mountain pass is upstream of the famous Muong Hoa stream in Sa Pa. The waterfall has an impressive height of up to 200m, which creates white foams, sparkling in the sunlight. This may be the origin of its name “Silver Waterfall”. It is surrounded by diverse vegetation. On the way to the waterfall, tourists will go through a pine forest, stretching rose valleys, which definitely amaze

them at the first sight. Near the foot of the slope leading to Silver waterfall, there is a salmon seed production center and a Vietnamese research center. Just 2km from the waterfall is Tram Ton Pass, where tourists can start a “journey” conquering Fansipan mount peak - the rooftop of Indochina.

Dambri Waterfall Dambri waterfall is one of the most

April 2022

beautiful and highest sites in Lam Dong province with a height of 57m and a width of about 30m. On route to the waterfall, tourists will pass a 20-meter cement bridge, where they can admire the majestic cascading waterfall. With picturesque surrounding landscape and its poetic beauty, the above waterfalls in Vietnam have left an indelible imprint on any visitors’ memories even at the first time.

lifestyle

Ha nh Ngan

The theatre of rice For many people, the key image Vietnam conjures up is that of picture-postcard rice terraced mountain scenery, but what most people don’t know is the very best of this scenery is found not in famous Sapa, but in the lesser known Mu Cang Chai.

u Cang Chai is a charming destination all year-round, but it is during harvest season that it comes into its own and landscape photographers are attracted in their droves. Clear blue skies and rushing rivers flowing through the valleys combine with the harvest-ready yellow rice and newer vibrant green crop to create an Eden-like scene. To see this display at its very best, a visit in September or October is a must.

A western district of Yen Bai province in Northern Vietnam, Mu Cang Chai is home to some 700 hectares of terraced rice fields. Seventy percent of these fields lie in three communes: La Pan Tan, Che Cu Nha and De Su Phinh. This is land that has been cultivated by the H’mong people for centuries. The traditional cultural heritage of the H’mong people has been recognised by the Ministry of Culture, Sport and Tourism and the area has been

B I D V r e vi e w

lifestyle

designated as a National Famous Landscape. The area’s Khau Pha pass stretches for 30km, climbing over the terraced mountains and delivering people into the heart of this magical province. The terraces climb to an altitude of over 1000m, captivating all who view them. No matter how many times visitors come here they will always be surprised by Mu Cang Chai’s amazing

beauty with its sea of yellow rice dotted with the houses of the minority people who call this land home. It is these people who lend the area its truly special magic. The rustic H’mong way of life is a thing of rare beauty in today’s modern world. Observing their colourfully patterned clothing criss-cross the golden fields is an unforgettable experience. All the generations of each family get involved with the harvesting and

April 2022

different families also help each other, moving from one field to the next until all the crops have been collected. This sense of community combined with the vivid beauty of the landscape make Mu Cang Chai one of the most intoxicating and inspiring destinations in all of Vietnam.

CSR

Ho a Quynh

Community houses for flood-prone areas community house among 10 houses to be built in the Central region between 2022 and 2023. In 2022, two more flood-proof community houses will be built in Ha Tinh province.

Planting trees along coastal area

Senior representatives of BIDV and local authorities at the inauguration ceremony of an floodproof community house in Ha Tinh province

On 30 March 2022, in Ha Tinh province, BIDV inaugurated an flood-proof community house in Cam Due commune, Cam Xuyen district and launched a program on planting 38,000 trees in Thach Hai commune. Inauguration of flood-proof community house The flood-proof community house in Cam Due commune is the first among 10 community houses to be built by BIDV in flood-prone provinces. The community house has a total investment cost of VND2.5 billion (USD110,000), featuring 2 floors and a floor area of 500m2. The community house is the place for meeting, physical exercises and sports activities of local people. In the case of storms and floods, the first floor will be used as a shelter for animals, and the second floor as the shelter for the local people.

Mr. Tran Xuan Hoang, member of the Board of Directors and Chairman of BIDV’s Trade Union said: “BIDV prioritizes flood-prone areas which are often heavily hit by storms and floods to implement the construction of flood-proof community houses. The first house in Cam Due commune – the “flood center” of Ha Tinh province – can accommodate 250 people to cope with floods. This is a model flood-proof

In response to the Prime Minister’s “Planting 1 billion trees during the period 2021 – 2025” project, BIDV has launched a “Planting 1 million trees” program in localities across the country. For coastal provinces, BIDV aims to plant coastal protective trees to help minimize the impact and damage caused by floods and natural disasters on local people’s lives. In Ha Tinh province, BIDV will plant 38,000 new casuarina trees in coastal areas. In the framework of the program, BIDV also implemented meaningful social security activities. The bank donated 20 sets of gifts to disadvantaged households in local communes, 10 sets of gifts to poor children with excellent academic results. BIDV Youth Union also donated 500 books to the House of Wisdom in Trung Thanh village.

Senior representatives of BIDV present gifts to local people during a tree planting program in 2022

B I D V r e vi e w

BIDV Review 81 - April 2022

Articles inside

Community houses for flood-prone areas (Ảnh

BIDV offers free tax payment on eTax Mobile

Free account - Bank your way

The theatre of rice

BIDV - the largest bond issuer in Vietnam

BIDV-SuMi TRUST Leasing: 5 years moving forward

An indispensable part of BIDV ecosystem

FDI disbursement hits five-year high

BSL named Trusted Financial Services Provider

BSC to issue shares to foreign strategic investor

Valuing the good partnership with BIDV

New regulations effective in April

Building a sustainable partnership of mutual benefits

Forging a sustainable future for all

A pioneering bank in Vietnam’s financial market

A typical member of Vietnam’s stock market

A consistent partner along BIDV’s growth

Strengthening mutual business partnership

Strengthening the cooperation

A strong and productive relationship with BIDV

A trusted partner of financial institutions

Standing side by side in implementing major policies

Strong partnership sets a good example for companies

Taking a leap toward globally leading banks

Deepening international cooperation

Congratulation letter from H.E. Madam Men Sam An

BIDV named Best Retail Bank for the seventh time

Congratulation letter from H.E. Mr. Tran Tuan Anh

BIDV honoured with four outstanding banking awards

10 years of equitization

A proud journey of moving forward with Vietnam

BIDV introduces new brand identity

Noble awards and honours