On 26 April 2023, in Hanoi, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Edmond de Rothschild signed a memorandum of understanding (MoU) on strategic cooperation to deploy specialized investment solutions on Private Banking service for wealthy customers.

Under the MoU, BIDV and Edmond de Rothschild will provide specialized investment solutions onshore and offshore exclusively for the high-net-worth customer segment in Vietnam. Edmond de Rothschild will support BIDV to standardize and improve the capacity of the bank’s wealth managers, thereby providing standard and world-class Private Banking services.

Addressing the signing ceremony, Mr. Le Ngoc Lam, Chief Executive Officer of BIDV said:

As the first state-owned commercial joint stock bank to deploy the Private Banking service, our strategy is to elevate the private banking service, lead the Vietnamese market and support customers to preserve and develop their assets. Through strict, methodical and comprehensive assessment of potential partners, BIDV selected Edmond de Rothschild to connect cooperation opportunities. BIDV highly appreciates Edmond de Rothschild's tradition and innovations, reflected in the unique and diverse ecosystem and optimal investment solutions for customers. We believe that with the experience of the Swiss leading group in Private Banking, Edmond de Rothschild will accompany BIDV to realize its ambitious strategy.

Mr. Christophe Caspar, Chief Executive Officer of Edmond de Rothschild Asset Management, shared:

We are delighted to announce this new partnership with one of the major banks in Vietnam. We are convinced by the high potential of the overall Vietnamese market for the coming years and by the fact that BIDV is the ideal partner to seize these opportunities. With a shared long term view on business development and a will to drive future changes in the Vietnamese financial industry, this partnership will enable us to meet the needs of the Vietnamese high-net-worth clients, by giving them access to performing and innovative investment opportunities.

The strategic partnership aims to develop financial management and investment solutions both onshore and offshore for high-net-worth customers in the Vietnamese market. This is considered a perfect piece in BIDV’s comprehensive supply chain of banking products and services for different customer segments, affirming the bank's position as a leading bank in Vietnam, with a vision to become a leading financial institution in Southeast Asia and among Top 100 largest banks in Asia.

About BIDV and BIDV Private Banking Established in 1957, BIDV is the oldest financial institution and a market leader by total assets in Vietnam. Over 66 years of development, BIDV has provided capital to most of the country's major projects. BIDV has earned the trust, support, companionship of over 340,000 corporate customers, 16 million individual customers, and 2,300 financial institutions. As the best retail bank in Vietnam for 8 consecutive years, BIDV has pioneered the trend of providing Private Banking services to high-net-worth individual customers in the Vietnamese market. With the mission of establishing new standards in the private banking segment, BIDV is committed to accompanying its customers with comprehensive investment and asset management solutions provided by outstanding wealth managers. Recently, The Asian Banker has named BIDV as the bank with the best Private Banking service in Vietnam with a global partner ecosystem, international standard model, a specialized and diverse portfolio of products and services, and the most exclusive privileges in the market. About Edmond de Rothschild As a conviction-driven investment house founded upon the belief that wealth should be used to build the world of tomorrow, Edmond de Rothschild specialises in Private Banking and Asset Management and serves an international clientele of families, entrepreneurs and institutional investors. The group is also active in Corporate Finance, Private Equity, Real Estate and Fund Services.  With a resolutely family-run nature, Edmond de Rothschild has the independence necessary to propose bold strategies and long-term investments, rooted in the real economy. Founded in 1953, the Group has more than CHF160 billion in assets under management, 2,500 employees, and 30 locations worldwide.