Saturday, 10 June 2023

Best State-Owned Retail Bank in Vietnam is BIDV

5 min read

  • Being the largest state-owned retail bank in Vietnam, this bank posted considerable growth as well as the highest return on equity, showing strong growth potential and profitability.  
  • The bank onboarded three million new digital customers with digitalisation initiatives and innovations in private banking. Its proportion of digital customers increased from 17% in 2018 to 56% in 2022. With more customers coming onboard, the bank retail credit of 23% year-on-year (YoY) growth of VND 650 trillion ($27.4 billion), while retail deposit increased YoY by 11% to VND 764 trillion ($32.2 billion), maintaining firm brand value, and leading by some VND 100 trillion ($4.2 billion) ahead of the next state-owned bank.  
  • For its strong financial results, digitalisation initiatives, rapidly increasing retail customers, and brand value, the Best State-Owned Retail Bank in Vietnam is BIDV. 
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