BIDV has released its financial report for the third quarter of 2017.

​Accordingly, as of 30 September, total assets reached VND1,125,908 billion (up 11.9 percent year to date and up 8.42 percent year on year. Deposits grew well, meeting the demand for credit growth. Total deposits reached VND1,053,841 billion, up 12.1 percent year to date, of which customers’ deposits reached VND823,073 billion, up 13.36 percent year to date.

Credit was channeled in the business and production sector with short term. Total credit and investment reached nearly VND1,080,702 billion, up 13.7 percent year to date. BIDV's credit growth rate was higher than that of the entire banking sector (12.16 percent). Loans to economic organizations and residents reached VND828,007 billion, up 14.4 percent year to date. Outstanding loans in the five priority sectors (rural agriculture, export, small and medium enterprises, supporting industries, high-tech enterprises) grew by 19.2 percent year to date, accounting for 50 percent of total outstanding loans.

The bank’s retail growth is higher than the overall growth rate of the system. Retail deposits grew by 14.3 percent year to date, accounting for 56.2 percent of total deposits. Retail outstanding credit growth was up 19.6 percent year to date, accounting for 26 percent of total outstanding loans.

Total operating income was VND27,785 billion, up 28 percent year on year, of which net interest income stood at VND23,013 billion, up 37.7 percent year on year; net service income reached VND2,140 billion, a positive growth of 24.3 percent over the same period last year; net income from treasury operations was VND513 billion, up 37 percent year on year.

The difference between revenue and expenditure of the whole system achieved positive results, reaching VND17,442 billion, up 37 percent over the same period last year. Profit before tax of the bank alone in the first nine months of the year reached VND6,002 billion, up 6.7 percent year on year. BIDV made adequate provisions for credit risk in order to improve financial health with operational safety rations being ensured according to regulations.

In the last 3 months of the year, BIDV said it would continue to manage credit growth closely while ensuring quality and efficiency; strengthen credit management by sector and industry; grow deposits with reasonable expenses, meeting the demand for capital; render efforts to increase non-interest income to ensure overall effectiveness; utilize resources to implement the restructuring plan associated with the handling of bad debts for the period 2017-2020; promote the capital increase plan according to the roadmap.

In a review performed in September this year, the global rating agency Standard & Poor’s (S&P) affirmed BIDV’s credit ratings to be unchanged, with a ‘stable’ outlook. The long-term issuer credit rating is given as B+ and short-term issuer credit rating as B. The “stable” outlook reflects S&P’s expectation that BIDV will maintain its strong franchise and satisfactory profitability, as well as improve its asset quality, especially through the resolution of legacy bad loans over the next 12 to 18 months.

In the past 9 months, BIDV has been recognized by domestic and international organizations with accolades and awards including Top 10 Excellent Trading Service Enterprises (Vietnam Ministry of Industry and Trade); Top 1,000 Global Banks 2017 (The Banker Magazine);  Top 10 companies with most valuable brands in Vietnam (Forbes Magazine); Best Retail Bank in Vietnam for three consecutive years 2015, 2016 and 2017 (The Asian Banker Magazine); House of the Year, Vietnam 2017 (Asia Risk Magazine); Vietnam Domestic Technology & Operations Bank of the Year (Asian Banking & Finance Magazine); Best bond house in Vietnam in 2017 (FinanceAsia Magazine) and many others.

In September 2017, BIDV and Sumitomo Mitsui Trust Bank – the largest trust bank of Japan joined to celebrate the grand opening of its joint venture BIDV-SuMi TRUST Leasing Co., Ltd (BSL), marking the official entrance in Vietnam’s financial leasing. BSL promised a new channel for medium and long-term capital for enterprises doing business in Vietnam.