BIDV asked to help expand investment abroad
Speaking at a ceremony in Hanoi on April 15 to mark the bank’s 60th founding anniversary, the PM said that BIDV must consider the assistance as an international mission, helping speed up Vietnam’s global integration and enhance the country’s prestige in the region and the world, initially in Laos, Cambodia and Russia.
The ceremony was attended by former Party General Secretary Le Kha Phieu, former National Assembly Chairman Nguyen Sinh Hung, and Lao National Assembly Chairwoman Pany Yathotou, among others.
He urged the bank to actively and effectively engage in the reform of credit institutions, whose focus is settling bad debts and banks with poor performance, in the role of the largest joint stock commercial bank in the country.
At the same time, the bank should continue renovating and improving its financial management, operational effectiveness and competitiveness, thus entering the list of top 25 largest commercial banks in ASEAN.
Learning that BIDV’s current charter capital of about US$1.5 billion is lower than that of many regional banks, he asked the bank to increase its financial capacity and take it as a priority task.
Along with making the best use of information technology to take advantage of the fourth industrial revolution, BIDV should improve its management and governance capacity towards international standards, while simplifying procedures to enable capital access for lenders, he asked.
BIDV was also requested to ensure a capital source for socio-economic development programs as well as major national projects and prioritized sectors such as agriculture, high tech industries, export, support industry, while supporting startups and small and medium-sized enterprises.
As one of the oldest credit institutions of Vietnam, BIDV’s initial missions include providing capital to national projects serving the national recovery and construction.
The bank’s asset has mounted to VND1 quadrillion, with over 1,000 branches and transaction offices with over 25,000 employees. Annually, the bank contributes VND5 trillion to the State budget. It has become the first bank to invest abroad in six countries, including Laos and Cambodia.
At the ceremony, Prime Minister Nguyen Xuan Phuc presented the Labour Order, first class, to the bank.
On the occasion, BIDV was honored with Laos’s Independence Order, first class, and Cambodia’s Monisaraphon Medal, Moha Seruivanth class.
Related News
Maintain fiscal policy to "open the way" for the economy in 2024
13:31 | 13/05/2024 Headlines
Warn about the fraudulent tricks of stock investment
16:30 | 07/05/2024 Finance
Make use of the most of favorable factors for economic growth
15:38 | 06/05/2024 Import-Export
Solutions for maintaining Vietnam's position as a bright spot for foreign direct investment
15:36 | 02/05/2024 Import-Export
Latest News
Banks promote online lending services
14:59 | 21/05/2024 Finance
Complete tax compliance management for business households and individuals
09:40 | 21/05/2024 Finance
Companies unveil M&A plans across multiple sectors at shareholders' meetings
16:01 | 20/05/2024 Finance
How did many banks' profits surge in Q1 2024?
10:31 | 20/05/2024 Finance
More News
New regulations in Circular 24/2024/TT-BTC aim to build streamlined and effective accounting apparatus
10:20 | 20/05/2024 Finance
A series of solutions to improve administrative reform results in the Finance sector
19:02 | 19/05/2024 Finance
After six consecutive increase years, tax revenue from real estate transfer plunges
08:49 | 19/05/2024 Finance
Improve processes and enhance experience to rebuild trust in life insurance
20:25 | 17/05/2024 Finance
PM chairs meeting on fiscal, monetary policy management
20:20 | 17/05/2024 Finance
Many tax management solutions for e-commerce
10:01 | 16/05/2024 Finance
Completely resolve problems and accelerate public investment disbursement
14:41 | 15/05/2024 Finance
Tax, land rent payment deadlines to be extended this year
14:21 | 15/05/2024 Finance
Tax compliance management in the digital economy
11:32 | 15/05/2024 Finance
Your care
Banks promote online lending services
14:59 | 21/05/2024 Finance
Complete tax compliance management for business households and individuals
09:40 | 21/05/2024 Finance
Companies unveil M&A plans across multiple sectors at shareholders' meetings
16:01 | 20/05/2024 Finance
How did many banks' profits surge in Q1 2024?
10:31 | 20/05/2024 Finance
New regulations in Circular 24/2024/TT-BTC aim to build streamlined and effective accounting apparatus
10:20 | 20/05/2024 Finance