International Banker held its annual awards acknowledging top banking institutions worldwide. Bank for Investment and Development of Vietnam JSC (BIDV) received an award for Commercial Bank of the Year, Vietnam.
London, UK -- (SBWIRE) -- 07/15/2014 -- The International Banker’s annual awards recognize banking excellence globally. Honoured with an award to acknowledge and celebrate innovation and leadership in commercial banking products and services in Vietnam – BIDV’s work has been recognised on this year’s list.
The bank offers an extensive range of solutions spanning a wide range of commercial finance services – including securities trading and brokerage, loan syndication and advisory - with a view to providing cutting edge, convenient banking products to its customers. BIDV provides insurance products designed to meet customer needs and furthermore provides a host of stock management services – including brokerage services, investment and investment consultancy and an ability to quickly facilitate and execute orders to meet client demands. The bank furthermore offers a substantial and specialised service in the area of financial investments - including financial leasing and capital contribution services aimed at directing interested investment companies to specific suitable projects requiring funding.
In particular BIDV plays a central role in coordinating the major corporate investment projects of Vietnam - such as the stock leasing of the major aviation company VALC and the development of the major highway with the company BLC. These projects have succeeded with the assistance of the BIDV investment banking department’s skills, services and expertise. With more than 18,000 experienced, qualified and trained officers, employees and financial consultants BIDV focusses on bringing customers the best possible services and solutions whilst maintaining trust and reliability throughout. BIDV has a wide spanning network with 127 branches, 602 transaction offices and thousands of ATMs across 63 provinces and cities nationwide. BIDV customers are wide ranging – from major corporations to small enterprises, financial institutions and individual retail customers.
The development of the SME sector has been a vital part of the Vietnam economy’s growth through 2013 and is predicted to perform likewise in 2014. In this area BIDV offers a number of products and services tailored to the needs of various enterprises and differentiating BIDV significantly from a number of its banking industry competitors. The bank offers a comprehensive range of services and a wide variety of products to serve enterprises of varying size and scope. Further to this BIDV has announced plans to build towards supplying an increasing amount of specific products and services for the SME segment over the coming several years.
In January 2007, the government announced that it would sell a minority stake in BIDV and the bank has officially been transformed into a Joint Stock Commercial Bank since May 2012. This transformation came with a number of corporate governance reform requirements and the bank has successfully incorporated these changes into their operational structure and strategic vision for the future. BIDV has put forward and implemented numerous targets and related measures aimed at helping the bank become a leading commercial bank in all business areas whilst operating under full compliance with international standards and practices. An example of these strategic targets includes the fulfilment of the operational mechanism of a public JSC bank – the bank has carried out a continuation of fully implementing the restructuring of all required activities, including organizational structure, regulatory framework, human resource management and administrative reform as stipulated by evolving corporate governance regulations and requirements.
For more information on BIDV http://internationalbanker.com/banking/bidv-thriving-vietnams-economic-growth/
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Bank for Investment & Development of Vietnam (BIDV)
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