Recently, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) was awarded “Most innovative risk management bank of Vietnam in 2022" by International Business Magazine (IBM).

The award has been independently evaluated by experts, researchers and financial institutions around the world for more than 3 months on criteria including: operational efficiency, technology platform, services provided and risk management methods in managing, monitoring and responding to the Covid-19 pandemic...

The first commercial bank in Vietnam awarded by IBM magazine, BIDV has affirmed its efforts and positive results in catching up with the market's risk management trend, and being proactive in its risk management in accordance with international practices. As one of the most prestigious and oldest commercial bank in Vietnam, BIDV has made strong moves in digital transformation of services and processes, keeping abreast of market trends, and bringing new and best experience to satisfy the needs of customers. Especially, the digitization in risk management activities through strengthened research and development of automated risk monitoring reports, loss calculation systems and machine learning models to improve the predictive power of the credit rating model.

BIDV's representatives receiving the award for The Most Innovative Risk Management Bank of Vietnam 2022

BIDV performs extensive risk management in all aspects: credit risk, counterparty credit risk, operational risk, market risk, interest rate risk in the banking book, liquidity risk, and concentration risk through comprehensively fine-tuning risk management mechanisms and policies. Thereby, establishing advanced measures and processes according to international practices, making forecasts and solutions to respond to risks, and performing risk-based performance measurement to optimize capital use and ensure capital adequacy ratio (CAR).

With the sustainable development goal, BIDV determines to increase service quality while being active, creative and professional in risk management activities in order to offer effective and appropriate risk control solutions in accordance with international regulations. 2019 marked an important milestone in BIDV's risk management as the bank was recognized by the State Bank as one of the earliest Basel II compliant banks in Vietnam.

To maintain the achievements in risk management as well as continuing to optimize the advanced risk management process in the future, BIDV identifies the human resources as one of the most important factors. Therefore, the bank has built and cascaded the Risk Control Culture throughout the system, from the Head Office to member units, from leaders to employees at all levels,... to raise awareness on risk control, creating a solid foundation for the safe and sustainable development of BIDV.

For further information, please contact:

Bank for Investment and Development of Vietnam JSC (BIDV)

Bank-wide Risk Management Department

Telephone: 024. 22205544 - Ext: 6541

Hotline: 19009247

Website: www.bidv.com.vn