BIDV named as best foreign exchange provider for third time
The Bank for Investment and Development of Vietnam (BIDV) has been named as the best provider of foreign exchange services in Vietnam by Asiamoney magazine, becoming the third-time recipient of the prestigious award voted by financial institutions and businesses.
The bank has also been named the best for foreign exchange research and market coverage in Vietnam by the Asian leading regional financial publication.
The annual award, voted by 394 financial institutions and more than 1,900 businesses, is to honour financial institutions across Asia-Pacific in foreign exchange and financial analysis.
In 2012, BIDV was picked as the best overall domestic cash management services and best overall cross-border cash management services by the magazine.
Also during the year, the world’s leading financial magazine, Euromoney, named the bank as the best domestic trade finance provider in Vietnam.
BIDV’s total assets rose 85 times from VND8.7 trillion (US$399 million) in 1995 to VND730 trillion (US$33.4 billion) in 2015, making it one of the largest banks in Vietnam.
The bank's mobilised capital increased 337 times from VND1.7 trillion (US$77.9 million) to VND574 trillion (US$26.3 billion); its credit rose 100 times from VND5.3 trillion (US$243 million) to VND535 trillion (US$24.5 billion), while its charter capital jumped from VND247 billion (US$11.3 million) to VND31.4 trillion (US$1.4 billion).
The bank's pre-tax profit also rose from VND221 billion (US$10.1 million) to VND6 trillion(US$275.2 million) after 20 years of transition into the commercial bank model.
It has contributed VND12 trillion (US$550.46 million) to the State budget so far.
The annual award, voted by 394 financial institutions and more than 1,900 businesses, is to honour financial institutions across Asia-Pacific in foreign exchange and financial analysis.
In 2012, BIDV was picked as the best overall domestic cash management services and best overall cross-border cash management services by the magazine.
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Also during the year, the world’s leading financial magazine, Euromoney, named the bank as the best domestic trade finance provider in Vietnam.
BIDV’s total assets rose 85 times from VND8.7 trillion (US$399 million) in 1995 to VND730 trillion (US$33.4 billion) in 2015, making it one of the largest banks in Vietnam.
The bank's mobilised capital increased 337 times from VND1.7 trillion (US$77.9 million) to VND574 trillion (US$26.3 billion); its credit rose 100 times from VND5.3 trillion (US$243 million) to VND535 trillion (US$24.5 billion), while its charter capital jumped from VND247 billion (US$11.3 million) to VND31.4 trillion (US$1.4 billion).
The bank's pre-tax profit also rose from VND221 billion (US$10.1 million) to VND6 trillion(US$275.2 million) after 20 years of transition into the commercial bank model.
It has contributed VND12 trillion (US$550.46 million) to the State budget so far.