Fully achieved the set targets in terms of scale, structure, quality, efficiency, and institutional development; Properly contributed to the State Budget, and protected the benefits of shareholders and employees, etc.

By the end of 31 December 2023, BIDV met all business targets assigned by the State Bank of Vietnam and the General Meeting of Shareholders, as follows:

• Total assets reached VND 2.26 quadrillion, an increase of 8.5% yoy, maintaining the firm position of the largest bank in Vietnam in terms of total assets.
• Deposit is in line with credit growth, meeting capital need, and ensuring safety and efficiency. Total deposits reached VND nearly 2.1 quadrillion, in which, customer deposits were VND 1.89 quadrillion, an increase of 16.5% year to date, accounting for 14% of the entire banking sector’s deposits.
• Total loan balance and investment reached more than VND 2.19 quadrillion, an increase of 12% year on year; in which loan balance reached nearly VND 1.75 quadrillion, an increase of 16.66% year on year, within the room assigned by the SBV, higher than the 2022 growth rate (+12.65% ), accounting for 13% of credit balance of the economy, earning BIDV the leading position in customer loans among joint stock commercial banks.
• Credit quality was strictly controlled with the prescribed threshold: As of 31 December 2023, NPL ratio was 1.12% (following Circular No. 11/2021/TT-NHNN), achieving the target assigned by the General Meeting of Shareholders, complying with SBV’s threshold (≤1.4%). As of 31 December 2023, bad debt coverage ratio of the commercial bank was 183%.
• Promoting the role of a key financial institution, BIDV actively and effectively applied solutions to overcome challenges, helped customers resume and expand business activities, and increased the capital absorption of the economy. Accordingly, by the end of 2023, BIDV had spent more than VND 5,900 billion to lower lending interest rates to support customers encountering difficulties.
• Business efficiency continued to increase compared to the previous year, achieving the 2023 business plan: Profit before tax of the commercial bank reached VND 26.7 trillion, an increase of 19.1% year on year; consolidated profit before tax reached nearly VND 27.6 trillion, an increase of 20.4% compared against 2022, exceeding the target set by the General Meeting of Shareholders.
• Preserved and expanded State capital at BIDV; properly contributed to the State Budget, and ensured shareholder benefits and employee income: As of 31 December 2023, BIDV’s equity reached nearly VND 115.2 trillion, an increase of 19.1% compared to 2022. Market cap reached VND 247.4 trillion (~USD 10.5 billion), an increase of 26.7% year on year, ranking 2nd in the Vietnamese stock market. Nearly VND 6.5 trillion was paid to the State Budget in 2023.
• Profitability metrics and prudential ratios were guaranteed: ROA and ROE reached 0.99% and 20.18% respectively, achieving the plan assigned by the SBV. Single-entity CAR reached 8.85%, and consolidated CAR reached 9.18%, within the thresholds prescribed by the State Bank of Vietnam in Circular No. 41/2016/TT-NHNN dated 30 December 2016. Loan to deposit ratio (LDR) of the commercial bank reached 83.85%, within the SBV’s threshold (≤85%) in Circular No. 22/2019/TT-NHNN dated 15 November 2019. The ratio of short-term funds for medium and long-term loans, liquidity reserve ratio, debt service coverage ratio and other prudential ratios meet regulations and international practices...

In 2023, BIDV implemented more than 130 social security programs totaling nearly VND 300 billion with main focus on healthcare, education, social housing, and Tet gifts for the poor. Some outstanding programs include supporting funds to build nearly 1,800 houses, offering 40,000 Tet gifts to the poor; completed and put into use flood-proof community houses in the Central provinces; organized the annual run race BIDVRUN - For a Green Life, among others.

BIDV’s impressive business achievements were highly appreciated by domestic and international organizations and communities through various titles and awards, specifically: Forbes Global 2000 list which ranks the largest companies worldwide by Forbes (ranked 1,081, up 524 ranks compared to 2022); Top 500 Global Most Valuable Banking Brands by Brand Finance (ranked 161, up 51 ranks compared to 2022), Top 10 Most Valuable Brands in Vietnam 2023 and The Fastest Growing Brand in Vietnam (69%); Best Retail Bank in Vietnam 2024 by the Asian Banker, marking BIDV the only Vietnamese bank to receive this award for the 9th time; Sao Khue Award to 9 information technology products in 2023 by Vietnam Software and IT Services Association (VINASA), etc.

Capturing the Government’s policies and the State Bank’s directions, to successfully implement the objectives under BIDV’s Business Development Strategy to 2025, vision to 2030 and sub-strategies of BIDV, while closely following the objectives under BIDV Restructuring Plan for the 2021-2025 period, with the action motto “Streamlining processes - Transforming operations”, in 2024, BIDV endeavors to fulfill the business plan with the following main targets: (i) Loan balance growth is within the room assigned by SBV; (ii) Deposit growth is in line with credit growth, ensuring safety, efficiency and capital adequacy ratios according to regulations; (iii) Profit before tax strives to grow by ~10%, following the market situation, BIDV’s capacity and approval from competent authorities, etc.