Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has recently released its Financial Statement for Quarter II/2024. The Bank’s operations remain stable, secure, and effective, closely aligning with its annual plan. Deposits continue to provide a solid capital balance, credit growth shows marked improvement, and credit quality is well-controlled within established limits. Key performance indicators have also improved compared to the same period last year.

As of the end of Q2 2024, BIDV has achieved impressive results across several key areas:

Total consolidated assets exceeded VND 2.52 quadrillion trillion, reinforcing BIDV's leadership in the market in terms of total assets.

Deposits fully meets capital demand, ensuring system liquidity safety. As of 30 June 2024, customer deposits reached over VND 2.01 quadrillion trillion, increasing by 5.5% year-to-date. Retail deposits show significant growth, enhancing the stability of the bank’s capital base.

Credit growth outpaced the industry average, with a 5.9 % increase year-to-date. In the first half of 2024, BIDV provided over VND 105 trillion in capital to support the  economic growth. Credit growth was particularly strong among retail customers (9.1%) and foreign corporate clients (8.5%).

Credit quality remained well managed with the bad debt ratio under the Circular No. 11/2021/TT-NHNN dated 30 June 2024, kept  ≤1.4%. BIDV’s credit provision. and operational prudential ratios are fully compliant with the State regulations.

BIDV's business performance over the first six-months of 2024 also showed positive results: Consolidated income-expense difference reached VND 25,295 billion. Consolidated pre-tax profit reached VND 15,549 billion, representing a 12% increase over last year.

BIDV's radical transformation to become a pioneering “Green Bank” towards long-term sustainable development:

• Recognizing the increasing importance of ESG (Environment, Society, Governance) practices across the economy, BIDV is developing a Comprehensive ESG Strategy. This includes a detailed action plan aimed at ạchieving strategic objectives and contributing to Vietnam's national goal of net-zero emissions;
• As the first bank in Vietnam to publish a Sustainable Development Report in 2024, BIDV adheres to international standards with the theme “Creating a Green Future”. This report highlights the bank’s sustainability focus  across three key pillars: Green Transformation - Building a Sustainable Society - Transparent and Effective Governance. Thanks to these efforts, BIDV ranked among TOP 20 businesses on the Vietnam Sustainability Index 2024, as announced by the Ho Chi Minh City Stock Exchange;
• Greening Banking Practices for Sustainable Future in the bank’s service provision: (i) Greening capital mobilization to finance projects focused on green initiatives, energy efficiency, emissions reduction, and environmental protection: successfully issued the first Green Bond compliant with International Capital Markets Association (ICMA) principles, valued at USD 101.3 million. Additionally, BIDV introduced a pioneering Green Deposit in Phase 1 of 2024, totaling VND 3,000 billion with flexible terms of 6 months or more; (ii) Greening credit activities: Signed a green credit line worth USD 100 million with the French Development Agency (AFD) to finance renewable energy projects. This is the first direct concessional loan from AFD to a Vietnamese commercial bank without government guarantees, regarded by AFD as one of its most successful projects. BIDV also continues collaborating with major global financial institutions, such as the European Investment Bank (EIB) and the World Bank, to attract additional resources for green credit initiatives.

BIDV's ongoing efforts in business operations have been recognized  with numerous prestigious domestic and international awards, including: TOP 1000 largest listed companies globally; TOP 10 largest banks in Southeast Asia; Two awards in the Sustainable Finance category under The Asset Triple A Award (Hong Kong), including: Best Issuer for Sustainable Finance in Vietnam and Best Green Bond in Vietnam; Best SME Bank in Vietnam (7th time) honored by Asian Banking and Finance (ABF); 05 international awards in 2024 awarded by The Asian Banker: 02 awards for retail banking (Best Home Home Financing in Vietnam and Best Private Bank in Vietnam 2024); 02 awards for corporate products and services (Best Open Banking/API Initiative in Vietnam and Best Trade Finance Bank in Vietnam 2024) and Best Core Banking Technology Implementation in Vietnam; TOP 10 Sao Khue Award 2024 for Payment Hub System - Centralized payment transaction processing center.

Looking ahead, BIDV remains committed to  monitoring market conditions closely and managing its operations with a focus on safe and effective credit growth. The bank’s strategy includes increasing non-interest income, enhancing e-banking services, maximizing revenue streams, and controlling expenses to ensure continued success.