The Joint Stock Commercial Bank for Investment and Development Vietnam (BIDV) generated profits of 4.26 trillion VND (200 million USD) by the end of September, making it one of the top 10 contributors to the national economy.
The bank’s total loans reached 419 trillion VND (19.68 billion USD) during the first nine months, up by 8.1 percent compared to the same period last year, whilst bad debt only accounted for 2 percent of its total loans.
In addition, capital mobilisation reached nearly 468 trillion VND (21.98 billion USD) during the period.
With over 18,000 employees, and 127 branches and more than 600 transaction offices in 63 provinces and cities nationwide, BIDV is now one of the country’s leading financial institutions. The lender currently holds assets of more than 600 trillion VND (28.18 billion USD) with an average annual credit growth of 18 percent from 2011-2014, said Phan Duc Tu, General Director of BIDV.
Regarding international cooperation, Tran Bac Ha, BIDV Chairman and President of the Association of Vietnamese Investors in Laos (AVIL), stated that BIDV and the Laos-Vietnam Bank (LVB), a joint venture between BIDV and a Lao bank, funded 23 projects in Laos so far, with a combined investment of approximately 740 million USD in the fields of infrastructure development, rubber plantations, hydropower and mining.
BIDV has also been involved in social welfare activities in the Lao community, donating nearly 10 million USD to socio-economic programmes. These efforts have helped tighten the friendship and solidarity between the people of Vietnam and Laos.-VNA
The bank’s total loans reached 419 trillion VND (19.68 billion USD) during the first nine months, up by 8.1 percent compared to the same period last year, whilst bad debt only accounted for 2 percent of its total loans.
In addition, capital mobilisation reached nearly 468 trillion VND (21.98 billion USD) during the period.
With over 18,000 employees, and 127 branches and more than 600 transaction offices in 63 provinces and cities nationwide, BIDV is now one of the country’s leading financial institutions. The lender currently holds assets of more than 600 trillion VND (28.18 billion USD) with an average annual credit growth of 18 percent from 2011-2014, said Phan Duc Tu, General Director of BIDV.
Regarding international cooperation, Tran Bac Ha, BIDV Chairman and President of the Association of Vietnamese Investors in Laos (AVIL), stated that BIDV and the Laos-Vietnam Bank (LVB), a joint venture between BIDV and a Lao bank, funded 23 projects in Laos so far, with a combined investment of approximately 740 million USD in the fields of infrastructure development, rubber plantations, hydropower and mining.
BIDV has also been involved in social welfare activities in the Lao community, donating nearly 10 million USD to socio-economic programmes. These efforts have helped tighten the friendship and solidarity between the people of Vietnam and Laos.-VNA
