Small and medium-sized enterprises (SMEs) play a particularly important role and are the driving force for the country's economic development. Following the policies and directions of the Party, National Assembly, Government and the State Bank of Vietnam, BIDV has focused on developing and fine-tuning policies to support and accompany SMEs.

At the 4th National Congress of the Vietnam Association of Small and Medium Enterprises (VINASME) held on 23 March 2023, BIDV informed the delegates about the bank's policies and solutions to support SMEs over the past time. BIDV is currently a reliable partner and companion of VINASME and SME supporting units such as Vietnam Chamber of Commerce and Industry (VCCI), SME Development Fund, National Innovation Fund, and National Innovation Center.

4th National Congress of the Vietnam Association of Small and Medium Enterprises (VINASME)

Digital transformation is the key to the success of SMEs. With the operating motto of “putting customers at the center, using technology to make breakthroughs”, BIDV has synchronously provided comprehensive solutions to meet the needs of customers according to the Government's orientation in the Law on Support for SMEs and the National Digital Transformation Program until 2025, with vision to 2030.

BIDV has developed a digital ecosystem with diverse products and services, integrating preeminent features to bring the most optimal experience to customers such as Omni BIDV iBank on website and mobile platforms; Online loan registration for corporate customers... Besides, BIDV also waives fees for businesses such as account management fee, account number selection fee, money transfer, payroll payment, international money transfer, trade financing; exchange rate support when making transactions on BIDV iBank.

BIDV has developed SMEasy digital platform under the One-stop shop model since end-2022, providing comprehensive financial and non-financial solutions for SMEs. In addition, BIDV's SME Digitrans program has made strong changes in the application of modern technology to governance and financial and accounting management for SMEs. The program has been under the technical assistance by the Asian Development Bank with priorities given to comprehensive financial development of women-owned SMEs (WMSE); start-ups; enterprises in rural and mountainous areas; and household businesses transforming into SMEs.

Since the start of 2023, BIDV has launched preferential credit programs for corporate customers with a total scale of about VND180 trillion, reducing interest rates by 0.5-1.5%/year, with priority given to SME customers. BIDV also bolsters domestic and foreign cooperation to timely bring entrusted funds and grants to SMEs.

BIDV staff at the VINASME  event

To support units to quickly access bank loans, BIDV has devised a credit extension process dedicated to SMEs and micro-businesses, cutting turnaround time by 20-30% for customers. The bank has also developed specific credit products to address customers’ difficulties in collateral.

BIDV is one of the pioneering banks to provide comprehensive solutions for SMEs, becoming a solid partner for units in their development process. BIDV's efforts have been recognized by domestic and international organizations with awards such as Best SME Bank in Vietnam for the fifth time by The Asian Banking and Finance and The Alpha Southeast Asia, Best SME Bank in Southeast Asia in 2022 by The Global Banking and Finance.