The Joint Stock Commercial Bank for Investment and Development of Vietnam ( BIDV) has recently been hounoured with the House of the Year award presented by the Hong Kong-based Asia Risk Magazine.

The bank won the prize in two straight years for its provision of derivative products and risk administration in Vietnam.

Launching a package of derivative products in 2006, the BIDV holds a big share in the domestic derivative product market and has become the first Vietnamese bank supplying them to help customers prevent risks due to changes in foreign exchange rates, interest rates and commodity prices that may affect their business activities.

House of the Year is an annual Asia Risk award hounouring the most prominent financial institutions in the Asia-Pacific region for their successful operations in the fields of risk management and trading in derivative products.-VNA