Bank for Investment and Development of Vietnam

Infobox_Company
company_name = Bank for Investment and Development of Vietnam
company_
company_type = State-owned
company_slogan = Cooperation for mutual development
foundation= April 26, 1957
location = flagicon|VIE Hanoi, Vietnam
key_people = Trần Anh Tuấn, CEO
Trần Bắc Hà, Chairman
num_employees = 10,200 full time equivalentcite web|publisher=Bank for Investment and Development of Vietnam|title=INTRODUCTION OF BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM|accessdate=2008-01-17|url=http://www.bidv.com.vn/English/aboutus.asp]
industry = Banking, Finance, Security
revenue = $10.48 billion USDcite news|work=Báo Lao Động|url=http://www.laodong.com.vn/Home/kinhte/doanhnghiep/2007/11/63228.laodong|date=2007-11-07|accessdate=2008-01-19|title=Ngân hàng BIDV được Finance Asia đưa vào top 100 ngân hàng của Châu Á (BIDV named by Finance Asia as one of Asia's top 100 banks)|publisher=Vietnam General Confederation of Labour|language=Vietnamese]
net_income = $70 million USD
products = Transaction accounts
Insurance
stock brokerage
Investment bank
Asset-based lending
Consumer finance
Trade
International payments
Foreign exchange

homepage = [http://www.bidv.com.vn www.bidv.com.vn] The Bank for Investment and Development of Vietnam ( _vi. Ngân hàng Đầu tư và Phát triển Việt Nam) is a large state-owned bank in Vietnam. It is the nation's number one bank in net income ($70 million USD) and the second biggest bank in revenue ($10.48 billion USD) (behind Agribank). According to the United Nations Development Programme report on the 100 largest enterprises in Vietnam, BIDV came in at the 4th position after "Agribank", "VNPT" and "PetroVietnam". [cite news|url=http://www.mofa.gov.vn/en/nr040807104143/nr040807105039/ns071002085235|publisher=Ministry of Foreign Affairs, Vietnam|title=Viet Nam's Top 200 businesses list announced|date=2007-10-02|accessdate=2008-01-19]

History

BIDV was established on 26 April, 1957 as the Bank for Construction of Vietnam (Ngân hàng Kiến thiết Việt Nam), under which name it operated until 24 June, 1981, at which point it changed its name to the Bank for Investment and Construction of Vietnam (Ngân hàng Đầu tư và Xây dựng Việt Nam). It adopted its present name on 14 November, 1990. [cite web|publisher=Bank for Investment and Development of Vietnam|title=GIỚI THIỆU VỀ NGÂN HÀNG ĐẦU TƯ VÀ PHÁT TRIỂN VIỆT NAM|accessdate=2008-01-17|url=http://www.bidv.com.vn/aboutus.asp|language=Vietnamese] .

In January 2007, the government announced that it would sell a minority stake in the BIDV and three other banks.cite news|title=Vietnam to sell stakes in 4 banks|work=International Herald Tribune|last=Folkmanis|first=Jason|date=2007-01-07|accessdate=2008-01-17|url=http://www.iht.com/articles/2007/01/07/bloomberg/sxdongbanks.php] In March of that same year, they sought the government's permission to invest in highway projects. [cite news|work=Vietnamnet Bridge|title=BIDV wants to invest in highway projects|date=2007-03-02|accessdate=2008-01-17|url=http://english.vietnamnet.vn/biz/2007/03/668802/|publisher=Vietnam News Agency] In September, they announced that they would form Vietnam's first aircraft finance group in Hanoi in a joint venture with Vietnam Airlines, PetroVietnam, and Vietnam Post and Telecommunication. [cite news|url=http://www.marketwatch.com/news/story/vietnams-state-owned-bidv-form-countrys/story.aspx?guid=%7B0ED1ED29-FDD0-4717-BDE6-CC67895B51C8%7D|work=MarketWatch|publisher=Dow Jones|last=Nguyen|first=Pham|date=2007-09-14|accessdate=2008-01-17|title=Vietnam's state-owned BIDV to form country's first aircraft leasing firm]

References

External links

* [http://www.bidv.com.vn/ Official home page]