On 17 January BIDV held an online business meeting to review its performance over the past year and sets goals for 2018

 

​Mr. Le Minh Hung, governor of the State Bank of Vietnam attended and delivered a speech. Senior government and ministry officials were also in attendance.

In 2017, following the action motto “Discipline - Accountability – Efficiency”, and the comprehensive restructuring plan for the 2016-2020 period, BIDV successfully fulfilled and surpassed its targets. Total assets reached VND1,176 trillion, up 16.7 percent compared to 2016; total mobilised capital reached VND1,106,517 billion, up 17.9 percent against 2016; total outstanding loans and investment reached VND1,136,778 billion, up 18 percent compared to 2016; and consolidated profit before tax reached VND8,800 billion, representing 113.5 percent of the target approved by the bank’s General Meeting of Shareholders. Both ROA and ROE were ensured. BIDV currently contributes more than VND5,500 billion to the state budget and continues to be among the largest taxpayers.

BIDV continued to affirm its role as a key instrument in the implementation of the monetary policy according to the direction of the government and the State Bank of Vietnam; promoting the role of a large state-owned commercial bank capable of regulating the market; being pioneering in the application of modern banking technology, advanced management and safety in its operations; and being active in international integration. 

The activities of the bank were acknowledged in the Joint Statements of Vietnam - China and Vietnam - Myanmar during the visits of the party general secretary Nguyen Phu Trong to the two countries, confirming the role, efforts and contributions of BIDV after many years of cooperation and presence in these markets.

BIDV also strengthened its cooperation with major banks in the region such as those in Japan, Korea and India. In 2017, BIDV actively participated in and contributed to the success of Vietnam’s foreign relations events. BIDV was rated by international credit rating firms such as Standard & Poor's and Moody's with stable and positive outlooks, and as one of the banks with the highest credit rating in Vietnam.

Notably, 2017 marked the bank’s 60th anniversary, with noble awards received from the governments of Vietnam, Laos and Cambodia. BIDV was recognised by national and international organisations for a number of awards, including: Top 2,000 World's Largest Public Companies (Forbes); Top 1,000 Global Banks 2017 (The Banker); “Best Retail Bank in Vietnam 2017” for the fourth year in a row (The Asian Banker); “Outstanding Retail Banking award 2017” for the second consecutive year (Vietnam Banks Association & IDG); “Best Bond House 2017” (FinanceAsia); as well as being awarded Silver Prize at the ASEAN ICT awards.

Addressing the meeting, Mr. Le Minh Hung, governor of the State Bank of Vietnam, spoke highly of the impressive results that BIDV has achieved which have contributed to the fulfillment of the banking sector’s tasks. The governor lauded BIDV for being pioneering in effectively implementing the monetary policies of the banking sector as well as leading the way in social responsibility. The governor expressed his confidence that based on the results all BIDV employees would continue to promote the solidarity, striving to accomplish all tasks assigned, and contributing to the successful implementation of the missions of the sector in 2018.

BIDV identifies 2018 as a pivotal year to successfully implement the restructuring plan in association with handling bad debt for the 2016-2020 period. Continuing the motto “Discipline - Accountability – Efficiency”, the bank has set business targets for 2018, targeting credit growth to increase by a maximum of 17 percent; capital mobilisation to increase by 17 percent; and the difference between revenue and expenditure to increase by 18 percent; as well as to fulfil tax payment obligations and ensure both the benefits of employees and the interests of shareholders.