BIDV operates stably, making its mark on the journey towards 'Green Bank'

BIDV maintains stable and safe operations; actively contributes to the National Strategy on Green Growth, making its mark on the journey towards a "Green Bank". Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV) announced its Financial Report for the third quarter of 2024. Accordingly, BIDV's business operations continue to be maintained stably, safely, effectively, basically following the annual plan; capital mobilization ensures capital balance, credit growth increases quite well, efficiency indicators achieve positive results compared to the same period last year... Stable and effective business operations By the end of the third quarter of 2024, BIDV achieved positive business results, reflected in many aspects: Total consolidated assets reached over 2.58 million billion VND, continuing to maintain its position as the bank with the largest total assets in the market. Capital mobilization fully meets capital usage needs, ensuring system liquidity safety. By September 30, capital mobilization from organizations and individuals reached VND2.07 million billion, up 8.8% compared to the beginning of the year. Capital mobilization grew well in the retail segment, contributing to increasing the stability of the capital base. Credit activities recorded a fairly high increase compared to the average of the banking industry, with outstanding credit reaching VND1.96 million billion, up 9.8% compared to the beginning of the year; in which, the credit structure continued to shift towards sustainable development, focusing on the retail segment (growth of 21% compared to the end of 2023) and foreign corporate customers (growth of 19.4%).

According to Circular 31/2024/TT-NHNN, the bad debt ratio is expected to be controlled according to the target (≤1.4%) by December 31. BIDV has made full risk provisions as prescribed. Operational safety indicators are ensured according to State regulations. Business performance in the first 9 months increased compared to the same period: Consolidated revenue and expenditure difference reached VND 36,246 billion. Consolidated pre-tax profit reached VND 22,047 billion, up 11.6%. With positive results in operations, in the third quarter of 2024, BIDV was recognized and honored by international and domestic organizations with many awards, typically: Being the representative with the largest revenue in the banking industry, included in the list of "TOP 50 Best Listed Companies in Vietnam in 2024" (honored by Forbes Magazine); “TOP 10 Most Valuable Vietnamese Brands in 2024” (honored by Brand Finance); “TOP 10 Strong Vietnamese Brands 2023 - 2024” (honored by Vietnam Economic Magazine and the Central Institute for Economic Management); “Leading Partner Bank for a Decade” (honored by ADB); “Best Digital Transformation Bank in Vietnam” (honored by Euromoney Magazine); “Best Workplace in Asia 2024” (honored by HR Asia Magazine);... Imprints on the journey towards “Green Bank” BIDV continues to affirm its pioneering position on the path of positioning the “Green Bank” brand and increasingly contributing positively to the National Strategy on Green Growth for the period up to 2030, with a vision to 2050. BIDV continues to synchronously complete legal regulations according to the direction of the Government and the State Bank, ready to accompany Vietnamese enterprises in creating a green economy. Recently, in addition to issuing the Sustainable Loan Framework, Green Bond Framework... creating the premise for implementing green credit packages, preferential capital funding programs for green construction projects, BIDV continues to issue the Environmental and Social Risk Management Framework in Trade Finance Activities (ESMS Framework), marking a pioneering step in accompanying import-export enterprises to promote global trade, strengthen value chains and sustainable growth...

Continuing to maintain its position as the leading credit institution issuing ESG bonds in the domestic market, BIDV became the first institution to successfully issue sustainable bonds in the domestic market with VND 3,000 billion of voluntary bonds in compliance with the Sustainable Bond Guidelines of the International Capital Market Association (ICMA). This capital will be used by BIDV to lend to projects that have a positive impact on the environment and society. Previously, in 2023, BIDV was also the first Vietnamese commercial bank to successfully issue VND 2,500 billion of green bonds. Through 2 consecutive issuances of green bonds and sustainable bonds in 2 consecutive years with a total successful offering value of VND 5,500 billion (approximately 220 million USD), along with the success of the Green Deposit product with more than VND 5,000 billion in balance, BIDV reaffirmed its goal of becoming a "Green Bank", making an important contribution to the national sustainable development strategy. In addition, BIDV also demonstrates strong social responsibility in actively implementing green initiatives related to gender equality and committing to long-term companionship, improving the community's capacity to respond to climate change. With these results, BIDV has entered the TOP 20 enterprises with the best sustainable development score in the market - VNSI (Vietnam Sustainability Index) in 2024 announced by the Ho Chi Minh City Stock Exchange.

In the coming time, BIDV will continue to closely monitor the system situation, operate business operations towards safe and effective credit growth, focus on increasing interest fee revenue sources, enhance e-banking services, maximize revenue sources and control costs, towards completing the proposed 2024 business plan.

Source: https://vtcnews.vn/bidv-hoat-dong-on-dinh-ghi-dau-an-tren-hanh-trinh-huong-den-ngan-hang-xanh-ar905491.html