Friday, 12 August 2022

BIDV’s retail franchise remained strong despite pandemic, with banking contribution highest among peers

5 min read

By The Asian Banker

  • BIDV achieved solid performance in retail in 2020 and secured 18% of deposits and 14% of loans
  • The bank responded to challenges in 2020 with agility and improved digital capabilities
  • The bank continued to gain market share with its digital personal loan product

08 April 2021, Hanoi – BIDV was recognised for Best Retail Bank and Best Personal Loan Product in Vietnam at the Vietnam Awards 2021 presented by The Asian Banker. 

BIDV achieved solid performance in retail, securing 18% of deposits and 14% of loans

Despite the pandemic, BIDV showed its resiliency with 26% retail revenue growth. It has one of the highest retail banking contribution to total bank income at almost 48%, while other banks reported around 35% to 45%.  BIDV and Vietcombank still dominate in terms of size and have shown strong growth the past years. Although between the two, BIDV has a slight edge in its return on equity (ROE) and market share in retail loans and deposits. It continued to gain market shares especially for mortgages, personal loans, wealth management and bancassurance. BIDV’s retail deposit scale is 1.2 times higher than that of Vietcombank. 

The bank responded to challenges in 2020 with agility and improved digital capabilities

Like most banks in Vietnam, BIDV accelerated its digital journey to support customers amid the restrictions and social distancing measures in the past year. Most banks have already offered electronic know your customer (eKYC) such as MBBank, the first mover in the country. For BIDV, its online account opening helped increased its online savings deposits in 2020 by threefold compared to 2019. Moreover, from February to April 2020, BIDV removed transaction fees on BIDV SmartBanking and BIDV Online for individual customers who register as new users. It expanded its ecosystem by integrating Vinmart’s e-commerce into their mobile platform. As a result, the proportion of transactions via digital channel increased to more than 50% in 2020.

The bank provided personal loans to consumers via its SmartBanking app  

BIDV introduced Quickloan on its mobile banking app in response to the pandemic and as part of its digital journey. It was able to provide a quick and seamless loan service through its Retail Loan Origination System which reduced processing time from a day to a few minutes. Within just three months of implementation, the bank provided digital loan products to 10,000 customers, further cementing its position as a market leader in personal loans with 22% market share.

Nguyen Thi Quynh Giao, senior vice president, head of retail, BIDV, shared, “I could see the amount of dedication and hard work each and everyone within BIDV spend to further our mission of making BIDV the best retail bank in Vietnam with the strongest digital transformation strategy. Receiving the best retail bank award, this is the sixth time we got this award. It is the recognition everyone within the team deserves after such a consistent strategy for a very long time. BIDV will continue to commit to bringing better service experience to our customers”.

For video of award presentation and winner’s acceptance speech, click here.

About The Asian Banker International

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is 

You may visit the Excellence in Retail Financial Services page at

For further information, you may get in touch with:
Mr. Mobasher Zein Kazmi
Head of Research

Region: Asia Pacific
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