Singapore, July 4, 2024 – The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has been awarded the prestigious "Vietnam Domestic FDI Bank of the Year 2024".

This marks the third consecutive year BIDV has received this honor from Asian Banking & Finance, reaffirming its outstanding efforts and achievements in serving Foreign Direct Investment (FDI) customers.    Leveraging its strength as Vietnam's largest commercial bank, BIDV has developed strategies and implemented policies to enhance cooperation with FDI enterprises. BIDV focuses on expanding corporate financing and project financing activities with diverse and flexible collateral policies, including direct loans, syndicated loans, and standby letters of credit (SBLC). The bank emphasizes adding value for enterprises by accelerating the connection between suppliers, distributors, and consumers through products and services such as supply chain financing, competitive interest rates,  and comprehensive retail packages for corporate employees. Furthermore, BIDV actively collaborates with foreign business associations in Vietnam to organize numerous working programs and seminars to exchange information, share experiences, and resolve challenges faced by FDI investors, etc..

BIDV representatives received the award 

Currently, BIDV has partnered with and provided products and services to over 8,100 FDI customers from various regions, including Japan, South Korea, China, ASEAN, the EU, North America, Hong Kong (China), Taiwan (China), etc. This customer base accounts for approximately 30% of the FDI market share in Vietnam, with many leading companies in key economic sectors such as electronics, textiles, petrochemicals, automotive, real estate, food and beverage, retail, animal feed, hospitality, and renewable energy. To serve FDI customers more effectively, BIDV has established a dedicated team, including the FDI Banking Department at the Head Office and FDI Corporate Offices at key branches, compromising of highly skilled and proficient foreign language staff and organized into specialized groups to cater to the language and business culture of different investors. Moreover, the FDI team is supported with coordination from strategic shareholder Hanabank (Korea) and 33 Japanese partner banks to further strengthen the team. With this robust FDI customer management team and appropriate mechanisms, BIDV is well-equipped to provide comprehensive financial and banking solutions and resolve legal issues commonly encountered by FDI enterprises investing in Vietnam. The award from Asian Banking & Finance not only affirms BIDV's reputation and strengths in the FDI corporate customer segment but also motivates BIDV to continue striving to become the most capable, experienced, and reliable domestic banking partner for FDI enterprises investing in Vietnam.

The Asian Banking and Finance (ABF), an international financial magazine based in Singapore, is renowned for its evaluation of awards in recognizing outstanding performances by banks on national and regional scale within Asia. Annually, ABF organizes a series of awards to honor credit institutions with breakthrough solutions/services.  The "Vietnam Domestic FDI Bank of the Year 2024" awarded to BIDV is part of the ABF Wholesale Banking Awards 2024 (dedicated to wholesale banking) and highly rated by experts from leading global audit/consulting firms such as PwC, Deloitte, Ernst & Young, and Bain and Company.