BIDV encouraged to break into top 25 commercial banks in ASEAN

Saturday, 2017-04-15 11:18:11
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Prime Minister Nguyen Xuan Phuc speaks at the ceremony. (Photo: VGP)
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NDO – The Bank for Investment and Development of Vietnam (BIDV) should set out middle-term and annual business strategies with specific tasks and goals, striving to break into the top 25 commercial banks in the ASEAN region.

Prime Minister Nguyen Xuan Phuc made the request at a ceremony held in Hanoi on April 15 to mark the 60th founding anniversary of BIDV (April 26, 1957-2017).

The event was attended by former General Secretary Le Kha Phieu, PM Nguyen Xuan Phuc, former Chairman of the National Assembly Nguyen Sinh Hung, Chairwoman of the Lao National Assembly Pany Yathotou and representatives from the Royal Government of Cambodia.

In his remarks, PM Phuc affirmed that over its 60 years of construction and development, BIDV has seen unceasing growth and made significant contributions to the struggle for national liberation and the cause of Doi Moi (Reform), international integration and national development.

BIDV has risen to become the largest joint stock commercial bank in Vietnam with a total asset of over VND1,000 trillion (US$44 billion); more than 1,000 branches, transaction offices and over 25,000 officials and employees across the country, adding VND5 trillion (US$220 million) to the state budget annually, he said.

BIDV is also the first Vietnamese bank to invest overseas, contributing to boosting the external economies of six countries, including Laos and Cambodia in particular, the government leader noted.

He requested the bank not to be content in what it has already achieved but continue to foster a desire to further develop and devise a long-term vision eyeing both the domestic and international markets.

Enhancing its financial capacity should be a priority task for BIDV, PM Phuc said, asking the bank to strengthen the application of information technology, take advantage of opportunities posed by the fourth industrial revolution and pay due attention to ensuring cyber security and information safety.

Furthermore, BIDV needs to strengthen administration and management capabilities based on international standards, and continue boosting reforms of administrative procedures, he added.

The bank was also requested to provide sufficient capital for socio-economic development programmes, key national projects and priority fields, and continuously participate in ensuring social security.

BIDV needs to continue taking the lead in promoting overseas investment, particularly in Laos and Cambodia, considering this an international obligation and an important task assigned by the Party and State in external economic affairs, contributing to boosting Vietnam’s integration and its prestige in the region and around the world, especially in Laos, Cambodia and Russia, the PM said.

He urged the bank to actively and effectively participate in restructuring credit institutions and handling bad debts and poorly performing banks; pay adequate attention to developing highly qualified human resources; and implement the resolution adopted at the fourth plenum of the 12th Party Central Committee on preventing degradation, corruption, self-evolution and self-transformation.

On the occasion of Laos and Cambodia’s traditional New Year, the PM wished Lao NA Chairwoman Pany Yathotou and members of the Lao and Cambodian delegations in attendance a new year of good things.

On behalf of the Party and State leaders, PM Nguyen Xuan Phuc presented the Labour Order, first class, to the BIDV.

In addition, the bank also received the Independence Order, first class, from Laos and the Royal Order of Monisaraphon from Cambodia.