BIDV named “leading partner bank” in Vietnam

BIDV named “leading partner bank” in Vietnam hinh anh 1

Illustrative image (Source: vtc.vn)

Hanoi (VNA) - The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has been named the “Leading Partner Bank in Vietnam” by the Asian Development Bank (ADB).

BIDV is the only bank in Vietnam to win the ADB’s second annual Trade Finance Programme (TFP) Award , which recognises partner banks’ contributions to promoting trade finance in Asia Pacific.

The awards recognise the TFP’s most active partner banks measured by the number of transactions conducted from 2015 through to mid-2016. The award honours BIDV’s endeavors in strengthening its capacity in trade finance and information transparency.

The TFP provides guarantees and loans to more than 200 partner banks to support trade. Since 2009, the programme has supported more than 8,200 small and medium-sized enterprises across the region, with about 11,800 transactions valued at more than USD23.6 billion.

In August 2009, BIDV was one of the first Vietnamese partners to be selected by ADB for a credit limit and trade finance contracts, allowing BIDV to conduct more trade finance transactions with its customers.

A primarily state-run bank, BIDV is Vietnam’s leading commercial bank. Its total assets as of 30 June 2016 stood at 930,500 billion VND (42.5 billion USD). With a network of 1,005 branches and transaction points across Vietnam and representative offices abroad, BIDV operates in various fields including banking, insurance, securities, investment.-VNA

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