No.55/2014: BIDV named "Best Foreign Exchange Provider in Vietnam” for 5 years running

Publish date
25/09/2014

Like

Share

No.55/2014: BIDV named "Best Foreign Exchange Provider in Vietnam” for 5 years running

On 25/9/2014, in Hong Kong, the Bank for Investment and Development of Vietnam (BIDV) was honorably awarded the award “The Best foreign exchange product, service providing Bank in Vietnam by Asiamoney Magazine and “The Best foreign exchange market research and forecast Report providing Bank in Vietnam” voted by the Business customers and Financial institutions. Accordingly, the Bank has excellently passed the domestic Banks, including the foreign banks currently operating in Vietnam so that for 2 consecutive years (2013-2014) and the 5th time (2007-2009 and 2013- 2014) became the best foreign exchange service providing Bank in Vietnam voted by the Business customers and Financial institutions.

The program for voting the award “The Best foreign exchange product, service providing Bank in Vietnam surveyed by Asiamoney Magazine from 04/06/2014 until 03/07/2014 received 461 evaluation and selection votes from the business customers who are using the foreign currency business product and service at BIDV. The criteria for voting include: (i) Annual transaction scale; (ii) Product, commonly used term, (iii) 5 regular transaction currency types; (iv) Number of transactions through online transaction; (v) Customer satisfaction level with FX product and service, FX option, Market information and FX research...

The annual award “The Best foreign exchange product, service providing Bank” organized by Asiamoney Magazine to acknowledge the evaluation of customers for the foreign exchange product and service of the Bank. In which the award category The Best foreign exchange product and service providing Bank of each country is selected and awarded to a best bank in that country voted by the customers. This is a prestigious award, attracting the attendance by many well-known organizations, financial institutions worldwide with the regional-level leading banks.

Passing all well-known foreign banks and domestic banks in Vietnam market, this is the 5th time BIDV was honored to receive the award “The Best foreign exchange product and service providing Bank in Vietnam” from Asiamoney magazine.

This award is distinctive because it is voted by the service users of that bank but not by the organizing board or the bank itself. This marks the progress of a Vietnamese bank in its efforts to bring the capital business operation closer to the higher international standards.

Mr. Do Ngoc Quynh, Director of the Capital and Money Business Division of BIDV said: “Grasping the strong integration trend of the world economy, for a long time, BIDV has determined that the capital and money business activity is one of the important activities of the banking sector in general and BIDV in particular. Although the Bank must face the fierce competition from both local and foreign competitors, with its financial capacity, experienced personnel, the capital and money business activity of BIDV is more and more strongly developed. This award is a specific evidence for the Bank’s efforts in the past time”.

In the international aspect, for many years BIDV has achieved the prestigious awards from AsiaRisk Magazine, Asiamoney Magazine, Asian Banking and Finance Magazine... This award of Asiamoney magazine once again affirms the prestige, position of BIDV as one of the leading commercial banks in Vietnam, always bring the best banking products and services to customers, especially the business customers and financial institutions. With the foundation of leading customers in Vietnam, mainly large businesses operating in the key economic sectors, BIDV is continuing its efforts to expand and better meet the demands of customers with the foreign exchange products that are specifically designed for each specific demand in order to improve the business efficiency.

Asiamoney is a famous leading economic – financial magazine in Asia, under Euromoney Institutional Investor PLC, headquartered in Hong Kong. The magazine is the prestigious unit that comes forward and organizes the awards system for the wholesale Banks annually with many important award categories. The Best foreign exchange service providing Bank Award is one of the important awards in the awards system of Asiamoney, participated by a lot of big banks in the world such as: Citibank, ANZ, BNP Paribas, Standard Chartered Bank...

*****

A glance at BIDV’s Capital and Money business activity:

In the past years, BIDV had a clear breakthrough in the capital and money business market by many positive changes. The capital and money business activity of BIDV with diversified product system, includes 9 main product lines: 6 product lines to serve customers (foreign currency trading, gold bar trading, interest rate derivation, commodity derivation, structured product, bond issuance consultancy) and 3 self-business product lines (foreign currency, Government bond, money). On both interbank transaction and customer transaction, BIDV showed its initiative, flexibility and profession, with the advantage of quick transaction time, convenient procedure, and competitive price level.

On the balance sheet of BIDV, the total net revenue from this activity reached an average growth rate of 15%/year in the period 2010-2013 and contributed about 20-25% to the total pre-tax profit of the bank.

Especially, with the history thickness and operation prestige of a leading commercial bank, the capital and money business activity of BIDV inherited and developed a large customer base, including individuals and businesses. The branch and transaction customer network was constantly expanded. Currently, the foreign currency and derivative customers with the bank are up to tens of thousands of customers. The number of new customers in the activity of these transactions increased in average 20-25%/year.

The bond issuance arrangement consultancy customers are mostly big corporations, state-owned groups and private enterprises with prestige and major brands in the country, operating in many fields and lines from real estate business, mining, construction, agriculture, industrial production, interdisciplinary business... the amount of issuance in each transaction conducted by BIDV is quite diversified, with medium-sized transactions (estimated 300 billion VND) to large scale (3,000 billion VND) for a term of up to 5-10 years, meet maximum and flexibly the specific capital demand of the businesses.

In the foreign currency self-business, the transaction turnover of BIDV reached the growth rate of about 20%/year and within the group of banks with large scale, efficiency obtained from this activity. BIDV also emerged as a leading bank in the government bond market right from the first days of establishment, and maintained as market maker with top transaction market share in both secondary market and primary market.

BIDV also attached special importance to the market forecast and analysis to serve the capital and money business activity and it is the leading domestic commercial bank in providing the analysis products, interest rate – exchange rate forecast in the market, contribute to helping the local and foreign customers, partners update timely the market developments and make appropriate and effective business decisions.

The price policy for the products of BIDV is designed according to the market principles, quite flexible and competitive compared with competitors. In the interbank market, BIDV is always the best offering bank on all products (foreign currency, bond, money). For business customers, BIDV has established the price policy on the basis of gathering customer interests from many products.

With the advantage of a leading bank, the organization model of the professional capital block, high-quality and experienced personnel in the capital and money business activity, BIDV wishes to contribute to bringing the capital and money business activity of Vietnamese bank closer and closer to the standards of international bank.

For more information, please contact:

Trademark and Public Relations Division

Bank for Investment and Development of Vietnam JSC

Tel: 04. 22205256; Fax: 04. 22225316

Suggested results
Suggested products / services
Finds Results
Finds Results
Finds Results
Finds Results
Finds Results
Συμπληρωματικό περιεχόμενο
${loading}