The Joint Stock Commercial Bank for Investment and Development of Vietnam ( vi, Ngân hàng Thương mại Cổ phần Đầu tư và Phát triển Việt Nam), commonly known as BIDV, is a Vietnamese state-owned bank in
Vietnam
Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making i ...
. It is the country's biggest bank by assets ($72
billion USD) as of June 2021.
[https://www.bidv.com.vn/bidv/tin-tuc/thong-tin-bao-chi/6-thang-dau-nam-bidv-duy-tri-hoat-dong-on-dinh-an-toan] According to the
United Nations Development Programme
The United Nations Development Programme (UNDP)french: Programme des Nations unies pour le développement, PNUD is a United Nations agency tasked with helping countries eliminate poverty and achieve sustainable economic growth and human dev ...
report on the 100 largest enterprises in Vietnam, BIDV came in at the 4th position after Agribank,
VNPT, and
EVN.
BIDV received Asia Risk Magazine's House of the Year Award for being at the forefront of the country's economic development by modernising its risk management and developing new financial products such as energy derivatives hedges.
History
BIDV was established on 26 April 1957 as the Bank for Construction of Vietnam (Ngân hàng Kiến thiết Việt Nam), under which name it operated until 24 June 1981, at which point it changed its name to the Bank for Investment and Construction of Vietnam (Ngân hàng Đầu tư và Xây dựng Việt Nam). It adopted its present name on 14 November 1990.
In January 2007, the Vietnamese government announced that it would sell a minority stake in the BIDV and three other banks.
In March of that same year, they sought the government's permission to invest in highway projects. In September, they announced that they would form Vietnam's first aircraft finance group in Hanoi in a joint venture with
Vietnam Airlines
Vietnam Airlines ( vi, Hãng Hàng không Quốc gia Việt Nam, lit=Vietnam National Airlines) is the flag carrier of Vietnam. The airline was founded in 1956 and later established as a Government-owned corporation, state-owned enterprise i ...
,
PetroVietnam, and
Vietnam Post and Telecommunication
Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making it ...
.
In November 2019 BIDV officially signed a strategic cooperation agreement with Hana Bank and announced the Korean bank as its foreign strategic shareholder who owns 15% of its charter capital. This is the biggest M&A deal with a strategic investor in Vietnam's banking industry
[https://www.bidv.com.vn/bidv_en/tin-tuc/thong-tin-bao-chi/keb-hana-bank-tro-thanh-co-dong-chien-luoc-nuoc-ngoai-bidv]
See also
*
List of banks in Vietnam
This is the list of banks in Vietnam, as of 2019.
State-owned Banks
Private Joint-Stock Commercial Banks
* Orient Commercial Joint Stock Bank (OCB)
* Asia Commercial Bank (ACB)
* Tien Phong Commercial Joint Stock Bank (TP Bank)
*Hanoi Buildi ...
*
References
External links
Official home page
Banks of Vietnam
Banks established in 1957
Government-owned companies of Vietnam
Vietnamese brands
{{Vietnam-stub