BIDV’s first general shareholders meeting was held on 08/03/2012 at Melia Hotel, 44 Ly Thuong Kiet street, Hanoi. 432 shareholders and representatives among 17,704 voting shareholders (account for 99.23% of the total voting shares) attended the meeting.

Representatives from the State Bank, relevant government agencies, ministries and departments also attended the meeting and reporters from various newspapers and media also came to report on the event.

In implementing Decision No. 2124/QĐ-TTg issued on 30/11/2011 by the Prime Minister regarding the approval of BIDV capitalization plan, BIDV has successfully completed the Initial Public Offering (IPO). In lines with the equitisation procedure regulated by the government, today BIDV held the first general shareholders meeting. The meeting was held while the Vietnam’s stock market has recently observed certain positive changes.  

Before the meeting, the Prime Minister issued Decision No. 278/QĐ-TTg dated 7/3/2012 regarding the adjustment and the structure of the charter capital for BIDV JSC. as follows:

Charter capital: VND 23,011,705,420,000 (twenty-three trillion eleven billion seven hundred five million four hundred twenty thousand dongs).

The structure of the charter capital is as follows:

-          Shares owned by the state: 2,203,607,796shares, equivalent to:VND 22,036,077,960,000, accounting for 95.76% of the charter capital.

-          Shares owned by BIDV staff: 12,808,600shares, equivalent to VND 128,086,000,000, accounting for 0.56% of the charter capital.

-          Shares were offered via the Hanoi Stock exchange - shares to be owned by individual and organization investors: 84,754,146shares, equivalent to VND 847,541,460,000, accounting for 3.68% of charter capital.

The Decision also states clearly that: the fund gained from BIDV equitisation will be managed according to the current regulations. The Prime Minister will consider and make decision on how to use the surplus capital gained from selling BIDV shares when a specific plan for using this fund is available.

BIDV’s first general shareholders meeting has approved important contents such as: BIDV organisational and operational charter, the structure and operational regulations of the Board of Directors, the structure and operational regulations of Boards of Supervisors; Business plan for the period 2012 – 2015 and 2012 business plan; decision on auditing agency for the year of 2012-2013; plan for setting the BIDV share price on the stock market; plan for selecting and selling shares for strategic investors.

The Board of Directors and Supervisory Board (term 2012 – 2017) were assigned in the meeting. With the lowest voting rate of 99.47% and highest voting rate of 101.76%, the new BIDV JSC.’s Board of Directors includes 10 members:

1.     Mr. Tran Bac Ha

2.     Mr. Phan Đuc Tu

3.     Mr. Tran Anh Tuan

4.     Mr. Nguyen Trung Hieu

5.     Mr. Nguyen Khac Than

6.     Mr. Le Đao Nguyen

7.     Mr. Hoang Huy Ha

8.     Mr. Nguyen Huy Tua

9.     Ms. Le Thi Kim Khuyen

10.  Mr. Ngo Ba Lai – currently is the Head of Internal Auditing Department, State Bank of Vietnam, representative for the capital of the State Bank.

BIDV JSC’s Supervisory Board (term 2012 – 2017):

1.     Mr. Tran Van Be

2.     Mr. Cao Cu Tri

3.     Ms. Nguyen Thi Tam

In the meeting, the Board of Directors and the Supervisory Board agreed to assign Mr. Tran Bac Ha as the Chairman of the Board of Directors and Mr. Tran Van Be as the Head of the Supervisory Board (term 2012 – 2017).

The meeting agreed on the goal of developing BIDV JSC. to become a advanced bank with diverse business activities in finance and banking sector, operating according to international regulations, with high quality and effectiveness among the financial institutions in Vietnam. By 2015 BIDV JSC. will become a commercial bank with state-dominant ownership complying with regional standards in terms of size, technology, management and competitiveness. BIDV JSC.’s vision by 2020 is to become one of the leading banks in Vietnam with the ability to compete and integrate into Southeast Asian and international financial and monetary market.

The meeting also agreed on the development goal until 2020 and business plan for 2012 with the following main indicators:

-          Fund mobilization increased by 18% compared tothat of 2011;

-          Outstanding loans increased by 17% compared to that of 2011;

-          Profit before tax increased by 36% compared to that of 2011;

-          Bad debt ratio below2.8%;

-          ROA: 1.0%; ROE: 17.0%;

-          Dividend payout ratio: about 14%.