BIDV awarded Best Custodian Bank in Viet Nam

Wednesday, Aug 04, 2021 14:29

BIDV's headquarters in Ha Noi. BIDV was the first Vietnamese bank given the award by The Asian Banker. — Photo courtesy of the bank

BIDV has been named as the “Best Custodian Bank” in Viet Nam in 2021 awarded by The Asian Banker. This has been the first time a Vietnamese bank has been given the award.

The award was independently evaluated over three months by specialists and researchers from more than 250 financial institutions in the Asia Pacific region. The evaluation criteria includes operational effectiveness, technological foundations, services and risk management methods in depository and customer asset supervision as well as solutions in responding to the COVID-19 pandemic.

The award recognises BIDV’s efforts and achievements in catching up with market trends, providing comprehensive services and autonomy in technology systems. The prize reaffirms BIDV’s leading position among banks providing depository and domestic supervision services.

Being the first bank given the licence for depository activities in 2003, BIDV has nearly 20 years of experience in the industry. The bank has the largest depository asset scale in the country with over VND300 trillion (US$13 billion) and an annual average growth rate of 50 per cent.

BIDV is the only bank in the market that provides comprehensive, all-inclusive services for investors, investment trust portfolios as well as for all types of securities investment funds such as member funds, mutual funds, close funds, open funds, exchange-traded funds (ETFs), real estate mutual funds, and, soon, voluntary supplemental retirement funds.

BIDV is the first Vietnamese bank to be autonomous in terms of technology and software systems, thereby providing a better experience and increasing customer satisfaction. Income from custodial banking services in the first half of the year increased 24 per cent over the same period in 2020. In April 2021, BIDV's Depository Banking and Securities Supervision Programme (BIDV eTrust) was honoured in the Top 10 Sao Khue Awards and recognised for providing excellent solutions to Viet Nam's software and information technology industry in 2021. — VNS

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