Hanoi, 21 April 2018 – The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) held its annual general meeting of shareholders (AGMS) 2018. The meeting was attended by 317 people representing 3,323,351,208 voting shares, accounting for 97.21% of total voting shares.

​BIDV’s AGMS 2018 adopted important documents such as report of the Board of Directors on operation in 2017 and key tasks for 2018; report of the Supervisory Board; report on audited consolidated financial report; plan on charter capital increase; amendments and supplements to the bank’s charter, among others.

Some business results approved at the Meeting

BIDV continued to affirm its position as the leading bank in the market, maintaining its market share in the sector. The bank’s total assets reached VND1,202,284 billion, up 19.5% from 2016, maintaining its position as the largest bank in the market by assets. Total outstanding loans and investment reached VND1,154,154 billion, of which outstanding loans to economic organisations and individuals reached VND 862,604 billion, an increase of 17% compared to 2016, accounting for 13.7% of the sector’s market share. Total mobilised capital reached VND1,124,961 billion, of which VND933,834 billion was mobilised from organisations and individuals, up 17.4% from 2016 and accounting for 12.8% of the banking sector’s market share.

Retail banking operations grew well, with retail loans growing by 35%, accounting for 30% of total outstanding loans. Retail deposits increased by 19%, accounting for nearly 55% of total deposits; and retail net income accounted for 31% of total net income. SME loans and deposits grew 31% and 28% respectively from 2016.

Credit quality has been strictly controlled, with NPL ratio at 1.44%. Net service income was VND4,456 billion, up 15.7% from 2016. The structure of service income saw positive developments. Total net operating income exceeded VND2,000 billion for the first time, up 37% from 2016.

In 2017, the bank’s business performance remained safe and sustainable, continuing the impressive results seen in recent years. The difference in revenue and expenditure achieved the best result so far, growing by 39.4% compared to 2016. Consolidated profit before tax reached VND8,665 billion, up 13% from last year. ROA was 0.63% and ROE reached 15%. The bank paid VND5,243 billion to the state budget, ranking amongst the top highest taxpayers. In 2017, the bank completed the dividend payment ratio of 7% in cash according to the Resolution of the AGMS 2017.

The Meeting approved the election of Mr. Pham Quang Tung to the Board of Directors of BIDV for the 2017-2022 tenure.

As of 20 April 2018, total assets of BIDV’s commercial banking business grew by 35%; outstanding loans were up 2.3%, and mobilised capital increased by 5.5%. Profit before tax of the banking business alone reached VND2,700 billion, fulfilling 29% of the year’s plan. Credit quality was controlled according to plans.

Business indicators for 2018

The AGMS 2018 adopted the bank’s business plan for 2018, particularly: Credit growth is set to increase 17% and in compliance with the plan assigned by the State Bank of Vietnam (SBV); capital mobilisation is targeted to grow 17%, ensuring balance for credit and investment needs in 2018 and meeting the prudential ratios prescribed by the SBV; profit before tax is set to reach VND9,300 billion; and the non-performing loan ratio is targeted to remain at <2%.

The bank also outlined key tasks for 2018 including: improving financial capacity; diversifying ownership structure; focusing on selling shares to strategic investors and completing charter capital increase from issuing shares to foreign investors. Further, credit growth is associated with improving credit quality; and the bank will strive to succeed in certain areas including restructuring income, continuing to diversify its customer base; continuing organisational transformation in association with improving the quality of human resources, streamlining its branch model and utilising resources for business operation; developing and aggressively implementing its digital banking strategy project; focusing resources to implement the Basel II roadmap on schedule, improving and upgrading the risk management system in line with Basel Committee standards; and continuing to foster the bank’s corporate culture to improve competitiveness.

For more information, please contact:

Bank for Investment and Development of Vietnam JSC (BIDV)

Hotline: 19009247; Website: www.bidv.com.vn