Dear valued customers, shareholders and partners, 365 days of persistently pursuing the “dual goal” of economic development and disease prevention, in which the goal of economic recovery and development in the “new normal” has yielded numerous positive economic and social outcomes for the country.
Economic growth in 2021 was 2.58%; inflation was at the lowest level in six years; trade surplus for the sixth year in a row, foreign investment recovered; digital transformation and advancement of science and technology, innovation have made significant progress. Given the pandemic and rising global inflationary pressures, the State Bank of Vietnam has regulated a proactive and flexible monetary policy, closely monitored market movements to improve macro stability and support businesses.

2021 was a significant year for BIDV since it was the first year of implementation of the Business Development Strategy for the 2021-2025 period, with a vision to 2030. Despite the fact that the economy faced numerous hurdles and uncertainties, BIDV thoroughly accomplished and exceeded the
specified business goals and targets thanks to the leadership of the Government and the State Bank, and the close companionship of partners, customers,
and efforts of all employees across the bank.

By the end of 2021, BIDV maintained its position as Vietnam’s largest joint stock commercial bank, with total assets of the commercial banking business
alone of VND1.72 quadrillion, up 16.2% from 2020. Total mobilized capital reached VND1.64 quadrillion, with deposits from organizations and individuals
making up VND1.51 quadrillion, up 16.5% from 2020 and accounting for more than 11% of the deposit market share in the entire sector. Customer loans
reached VND1.37 quadrillion, up 11.2% from 2020 and accounting for more than 13% of the entire economy’s credit balance, naming BIDV as the leader in the market by share of credit. The credit structure shifted to a more sustainable direction; retail outstanding loans grew by 25% year-on-year, SMEs and FDI outstanding loans increased by 15% and 21%, respectively. Credit quality saw the best improvement in recent years, with a non-performing loan ratio of 0.82% according to Circular 11/2021/TT-NHNN. Financial capacity improved, with charter capital reaching VND50,585 billion and market capitalization of VND187.67 trillion (USD8.16 billion). Risk provision was fully made in compliance with regulations; bad debt coverage ratio exceeded 235%; safety indicators were compliant with regulations and best practices. The bank has secured the interests of shareholders and employees, and made full payment to the State budget.

In 2021, BIDV made significant progress in institutional improvement and development, including: issuing a Resolution on BIDV’s business development strategy to 2025, with a vision to 2030; completing the development of 04 component strategies, including: digital transformation, retail banking development, wholesale banking development, and human resources development; finalizing the organizational model, consolidating/additionally electing members o the Board of Directors, and the Supervisory Board, appointing, re-appointing and rotating hundreds of managers at all levels, etc., thereby strengthening the bank’s direction and management capacity.

As a major commercial bank, BIDV has taken proactive steps to deliver its social responsibilities, including providing solutions to help customers overcome the challenges posed by the pandemic such as restructuring loan repayment terms, lowering lending rates, and reducing service fees for customers. BIDV actively implemented social security activities to support the Covid-19 response, as well as contributing to education, security and defense, health, and community development activities.

“Fire proves gold, adversity proves men” correctly defines our endeavor in the third year of the pandemic. BIDV continued to show its audacity in the face of unprecedented difficulties and challenges brought by the pandemic, as well as increasing competitive pressure; affirming the bank’s prestige and brand name; our partners and customers’ trust was enhanced both domestically and internationally; BIDV’s issuer credit rating was rated by Moody’s  rating firm at the same level of the sovereign rating and among banks with the highest credit ratings in Vietnam. BIDV has received numerous awards in the past year, including the Top 2,000 largest public companies in the world (Forbes); Top 25 leading financial brands and Top 50 best listed companies in Vietnam (Forbes Vietnam); The most innovative electronic bank in Vietnam (Global Banking & Finance Review); The best retail bank in Vietnam (The Asian Banker); Outstanding Digital Transformation Bank Award 2021 (Global Finance Magazine and Vietnam Digital Communication Association)... BIDV has ranked first among commercial banks in Vietnam for the 12th consecutive year for its readiness index for IT development and application by the Ministry of Information and Communications and the State Bank of Vietnam, and has won Sao Khue Award 2021 for 06 IT applications.

BIDV is on a new path of development favored by positive and promising signals. If “On the runway” is a phrase that describes BIDV’s performance in 2021,
“Take off” is what we aim for in 2022. With strong internal strength, abundant resources, and a positive and proactive attitude, we believe 2022 will bring us
into a period of lasting and prosperous growth after 65 years of establishment and development.

BIDV sets its action motto for 2022 as “Discipline - Efficiency - Digital Transformation” in order to achieve its objectives. As a result, in 2022, BIDV will continue to implement measures to prevent and control the Covid-19 pandemic in the principle of safety, flexibility, and creativity, appropriate for each area of operation, ensuring employees’ health, and the system’s stable, safe, and smooth operation. BIDV will continue to follow the guidelines and orientations on macroeconomic policies, monetary and financial policy, on green credit growth, and credit for priority industries and sectors; and continue to support businesses and individuals affected by the Covid-19 pandemic in overcoming obstacles, recovering, maintaining, and developing production and operation. BIDV will implement credit quality control, focusing on increasing long-term efficiency by promoting net service income, revenue from digital channels; restructuring of customer base, liabilities; boosting operational efficiency of subsidiaries; enhancing financial capacity, controlling risk-weighted assets, improving CAR, and continue to improve credit rating.

On behalf of BIDV’s Board of Directors, I would like to extend my sincere thanks to the whole leadership and 27 thousand employees for their enormous devotion to BIDV. I would also like to express my deep gratitude to all of our customers, investors, and partners who have always put the trust in and supported BIDV over the years, and we look forward to continuing the collaboration with you so that we can together move towards a sustainable and prosperous future!

May I wish you continued growth and success!

Yours sincerely,



Phan Duc Tu