BIDV affirms all of its operations are stable, safe and effective

TIN LIÊN QUAN
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On 29 November 2018, the Investigation Police Agency under Vietnam’s Ministry of Public Security began criminal proceedings against the case of “violating regulations on banking operations and other banking-related activities”, prosecuting Mr. Tran Bac Ha – former chairman of the Board of Directors of BIDV, Mr. Tran Luc Lang – former Senior Executive Vice President of BIDV, Mr. Kieu Dinh Hoa – former head of BIDV Ha Tinh branch, and Ms. Le Thi Van Anh – former head of BIDV Ha Tinh branch’s corporate division.

The issues related to the violations which previously occurred of the above-mentioned individuals have been proactively reported by BIDV to competent authorities for handling and support in working with the enterprises to collect the debt for the bank. BIDV will continue to coordinate with the competent authorities to handle the case in accordance with law.

Former chairman of the Board of Directors of BIDV Tran Bac Ha.(Photo: Congan)

As the largest commercial bank in Vietnam by assets, having strong financial strength and a standardized management system, BIDV always maintains its business continuity, stability and development, contributing to the implementation of national monetary policy, ensuring balance of the national macro-economy without being affected by the above-mentioned case.

BIDV is a primarily state-owned commercial bank with the longest-established history in Vietnam. The bank always adheres closely to the policies of the Party, policies and laws of the State, directions of the Government and the Governor of the State Bank of Vietnam, upholding its position as a key and responsible bank, actively contributing to the macro-economic stabilization, boosting the country's economic development, proactively integrating into the regional and international financial markets. BIDV always respects and protects the legitimate rights and interests of customers, partners and shareholders.

Up to now, all business activities of BIDV have been maintained stable, safe and effective. By the end of November 2018, BIDV had basically completed the business goals set for 2018 by the General Meeting of Shareholders. Total assets reached VND1,255 trillion; outstanding loans to the economy increased by 13.5%, NPLs controlled at low level of under 1.6%; profit growth of 18%. Safety indications are ensured in accordance with law and international practice. The international rating firm Moody's upgraded BIDV's baseline credit assessment (BCA) from b3 to b2.

BIDV confirms all the operations of its whole system are not negatively affected by the above information.

BIDV would like to express its sincere thanks to customers for their trust in and support for BIDV’s services. BIDV is committed to continuously improving the quality of its services, applying modern banking technology to better meet the needs of customers.

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