Building a sustainable partnership of mutual benefits

Building a sustainable partnership of mutual benefits

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.

Standard 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.

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.

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