The rumor spread out on the morning of February 21st, while BIDV’s Board of Management was in a meeting under the chair of Chairman Tran Bac Ha on the implementation of BIDV’s Business Plan, Resolutions No.01&No.02/NQ-CP by the Prime Minister and Directive No.01/CT– NHNN by the Governor of the State Bank. The rumor, which held that BIDV’s leader was under arrest, has taken heavy toll not only on BIDV’s prestige but also on Vietnamese securities and financial markets.

BIDV assumes that the rumor was a blatant fabrication in order to earn profit. Right on the morning of February 21st, the Bank reported the incident to the Security Bureau II under the Ministry of Public Security.

According to the Bureau, those who ignited the rumor might have had the intention of damaging the banking and financial market above and beyond cashing in on the market turbulence. “The Security Bureau II, Ministry of Public Security is tracking down the perpetrator of the incident”, said Major General Trinh Van Thong, Deputy Head of the Security Bureau II.

BIDV reaffirms this is a groundless rumor and the whole system of BIDV is still operating normally.

For further information, please contact:

Financial Institutions

Bank for Investment and Development of Vietnam JSC.,

Tel: (+84) 04 - 22225323; Fax: (+84) 04 - 22206615