Bank for Investment and Development of Viet Nam (BIDV) received the Best Retail Bank award for the third consecutive year in Ha Noi on Thursday. — Photo vnexpress.net

Bank for Investment and Development of Viet Nam (BIDV) received the Best Retail Bank award for the third consecutive year in Ha Noi on Thursday.

The award, given by financial services company The Asian Banker, honours retail banks for their efforts and achievements in providing financial products and services to individuals, as well as for their position in the market. Typically, banks winning the title have impressive business strategies in the retail sector.

BIDV also won the award for the Best House Lending Product in 2016, based on criteria such as market share, outstanding balance scale, number of buyers, net income, credit quality and procedures.

The bank has been building financial products and services for around 9 million individual customers. It has expanded to around 1,000 transaction points nationwide, all as per international standards, has 32,000 ATMs, 1,000 agents worldwide, and representative offices in Laos, Cambodia, Myanmar, Russia and Czech Republic.

BIDV’s total assets rose 17.5 per cent year-on-year in 2016 to touch around VNĐ1 quadrillion (US$44 billion). Its assets currently account for 14 per cent of the total assets of the entire banking sector, bringing it to the top in terms of operational scale.

Last year, BIDV’s pre-tax profits reached VNĐ7.5 trillion, up 7 per cent year-on-year. — VNS