The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has been awarded “Vietnam Domestic Foreign Exchange Bank of the Year" and “Vietnam Domestic Derivatives Initiative of the Year” by Asian Banking & Finance (ABF).

This year marks the 4th year in a row BIDV has been honored with “Vietnam Domestic Foreign Exchange Bank of the Year” and the first bank in Vietnam to be honoured with “Vietnam Domestic Derivatives Initiative of the Year” by Asian Banking & Finance (ABF).

The awards are given to BIDV based on assessment by a panel of leading finance experts on criteria including technology application, products and policies. These awards affirm BIDV’s relentless efforts in providing the best and tailored foreign exchange and derivative products to customers.

BIDV’s foreign exchange and derivatives services are provided to customers in a comprehensive and flexible manner with optimized trading options through cross-selling products and hedging products. In addition, BIDV always prioritizes developing modern trading platforms, allowing customers to make transactions quickly and conveniently while minimizing transaction costs and time.

Over the years, BIDV has offered customers with diverse foreign exchange and derivative products with varying terms, currencies, transaction items, reference interest rates, and payment time. This helps provide customers with flexible hedging to minimize adverse impact of exchange rate, interest rate and commodity price fluctuations on their business operation. At the same time, customers can enjoy fixed costs through various product bundles that combine foreign exchange, derivatives with deposit, credit, trade finance, money transfer, etc. Having the largest customer base trading derivatives in the market, BIDV has provided modern financial solutions, approaching international practices on advanced risk management and valuation models.

In terms of technology, BIDV always strives to bring customers the best experience on digital platforms to minimize transaction time and documents. Customers can buy and sell a variety of foreign currencies according to their payment needs through online applications such as BIDV Smart Banking for individual customers or BIDV iBank for institutional customers. With simple, fast, convenient transaction procedures and competitive exchange rates, BIDV’s online foreign exchange platforms help acquire more customers and drive the digital transformation of the bank.

These awards by Asian Banking and Finance once again affirm BIDV’s active, creative and customer-centric approach in foreign exchange and derivatives services.