On February 3, 2023, in Bangkok (Thailand), Bank for Investment and Development of Vietnam JSC. (BIDV) was honored by the International Finance Magazine (IFM) as "Best Trade Finance Bank" and "Best Supply Chain Finance Bank".

This event is the 10th continuous year that IFM has held the International Finance Awards to honor finance institutions worldwide with outstanding achievements and developments in several areas.

“Best Trade Finance Bank in Vietnam 2022” award shows high appreciation and recognition of IFM for BIDV’s relentless efforts in supporting import-export enterprises. In recent years, BIDV has provided importers and exporters with diverse and quality products and services including trade finance, international payment, and working capital financing products with flexible credit conditions, foreign exchange products and derivatives with competitive exchange rates. The diverse products enable the bank to meet the increasingly demanding needs of customers in a timely manner.

In 2022, BIDV carried out the Trade Booming program with many incentives to effectively support customers, especially in reducing fees. The program has attracted 4,200 import-export customers who have new transactions with BIDV. Moreover, BIDV is also the pioneer in migrating International Fund Transfer and Trade Finance services to its digital channel - BIDV iBank, bringing import-export enterprises a diverse digital ecosystem and helping them access fast and convenient online transactions. 

IFM also honored BIDV as the “Best Supply Chain Finance Bank in Vietnam 2022.” The award is testament to BIDV’s reputation in offering effective solutions to serve enterprises in the supply chain. As an experienced bank with a large corporate customer base, BIDV has been chosen by an increasing number of enterprises for supply chain finance products. In 2022, BIDV provided solutions for many new supply chains, attracting more satellite customers who are suppliers and distributors in various sectors. In particular, the bank has offered enterprises specific and comprehensive supply chain financing solutions in potential sectors such as animal feed, food and beverage, construction materials, telecommunications, petroleum/chemicals, automotive/electronics, pharmaceuticals, etc.

So far, BIDV has been the only bank in Vietnam selected by the Asian Development Bank (ADB) for a technical assistance project to design and implement a supply chain finance business model. In the coming time, the bank will continue to digitize its SCF products with the ADB’s support and companionship. BIDV’s digital solutions aim to support customers in digital transformation with diverse features, facilitating cash flow management, invoice management, liquidity support, working capital financing, etc. to enhance business growth and sustainable development.