It was said that it would be a big struggle to BIDV when it no longer handled capital allocation function. As a new staff, I did not really get the whole story, but I still had a hunch that BIDV would succeed when becoming a commercial bank. That hunch became a firm belief when I heard the speeches at the meetings as well as the instructions of the senior leaders of BIDV to prepare BIDV for a new journey.

One of the tasks assigned to the Legal and Compliance Department at that time, which I was directly involved in, under the mandate of Deputy General Director Trinh Ngoc Ho (who became General Director in the 1996-2003 period) was to amend BIDV’s Charter of Organization and Operation to align with new requirements and legal regulations. According to the Ordinance on Banking, Credit Cooperatives and Finance Companies, which was still in effect at that time, BIDV was not a commercial bank but a “state-owned bank, receiving capital from the State budget for investment in the State’s economic-technical development projects and mobilize medium-term and long-term capital at home and abroad for providing medium- and long-term loans (Clause 2 Article 2 of the Ordinance).

The legal issue was how to define “Bank for Investment and Development” according to the ordinance in which capital allocation for investment and development no longer existed. Finally, Mr. Trinh Ngoc Ho conveyed the idea to me to write an official letter to the State Bank to amend the Charter in the direction of allowing Bank for Investment and Development to operate as a commercial bank. This proposal was mentioned by Mr. Trinh Ngoc Ho at many meetings held by the State Bank during that time. Finally, the proposal was approved by the State Bank. On 21 March 1995, the Governor of the State Bank of Vietnam signed Decision No. 79/QD-NH5 approving the new Charter of the Bank for Investment and Development of Vietnam. Article 2 of the new Charter stipulated that “Bank for Investment and Development of Vietnam ... and at the same time can carry out activities of commercial banks...”. These words seem normal if you just read through, but it took us a lot of effort, time and “flexibility” for the existence and development of Bank for Investment and Development as today. This is also a very profound lesson for a legal staff like me in the process of providing legal advice for BIDV’s operations.

Another unforgettable memory for me is that I was involved in special handling of Nam Do Commercial Joint Stock Bank during the first 3 months. In 1998, after a series of fraudulent acts in credit, Nam Do Commercial Joint Stock Bank was insolvent and was placed under special control by the State Bank. This was also when the Asian financial crisis took place. Thus, to ensure the safety of the banking system as well as stabilize the socio-economic situation in Ho Chi Minh City, the Prime Minister, the State Bank had a policy of assigning BIDV to participate in the control and handling of Nam Do Commercial Joint Stock Bank to ensure smooth handling, protect the interests of depositors, and collect debts. Following the direction of the Prime Minister and the State Bank of Vietnam, BIDV General Director signed the decision No. 147/QD-TCCB on 12 September 1998 to establish a Special Working Team consisting of 4 people, including: Mr. Tran Bac Ha, Director of Binh Dinh Branch - Team Leader, Mr. Luu Thi Kim Oanh, Head of Finance and Accounting Department (now retired) -  Deputy Leader, Mr. Nguyen Ba Vuong - Deputy Director of Ho Chi Minh City Branch - Deputy Leader and I as a Team Member. The Working Team later had more members such as Mr. Tran Thi Hung, now the Director of Phu My Branch, Mr. Dang Quang Vinh, now the Deputy Chief of Office, and Mr. Nguyen Quoc Tuan, now the Deputy Director of the Finance Lease Company 2, Mr. Nguyen Van Phuc, Head of Credit Department of Khanh Hoa Branch... The Working Team was responsible for assessing the situation of Nam Do Commercial Joint Stock Bank and proposing solutions.

At this time, Mr. Bac Ha was still Director of Binh Dinh branch, so sometimes he had to fly to Binh Dinh for handling works. Mr. Bac Ha’s management was very drastic and quick, so people gave him the nickname “The Storm”. There was communication between Special Working Team and Binh Dinh Branch. When Mr. Bac Ha flew in from Binh Dinh, the Branch’s staff called us: “The Storm is coming!” and when he flew from Ho Chi Minh City to Binh Dinh, we called them: “The Storm is coming back!” With the motto of “work hard, play hard”, sometimes the Team Leader invited us for a drink to relax, did not impose time constraints provided that the work was still completed on schedule. Therefore, once after attending a party, Tuan and I had to prepare a report until 1:30 a.m. After sleeping for a while, at 5 a.m, Mr. Bac Ha called to ask for the report submission for approval before 6:30 a.m! Although the time I joined the Special Working Team was short, it left me with unforgettable memories. This was also a very rewarding and challenging time to help me grow and be more successful in my assignment.