Bank for Investment and Development of Vietnam
Encyclopedia
The Bank for Investment and Development of Vietnam 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 asset($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 EVN
.
In January 2007, the government announced that it would sell a minority stake in the BIDV and three other banks. In March of that same year, they sought the government's permission to invest in highway projects. 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.
Vietnam
Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...
. It is the nation's number one bank in net income ($70 million
Million
One million or one thousand thousand, is the natural number following 999,999 and preceding 1,000,001. The word is derived from the early Italian millione , from mille, "thousand", plus the augmentative suffix -one.In scientific notation, it is written as or just 106...
USD) and the second biggest bank in asset($10.48 billion USD) (behind Agribank
Agribank
The Vietnam Bank for Agriculture and Rural Development or Agribank is the largest commercial bank in Vietnam by total assests. It is a state-owned corporation under a special status...
). According to the United Nations Development Programme
United Nations Development Programme
The United Nations Development Programme is the United Nations' global development network. It advocates for change and connects countries to knowledge, experience and resources to help people build a better life. UNDP operates in 177 countries, working with nations on their own solutions to...
report on the 100 largest enterprises in Vietnam, BIDV came in at the 4th position after Agribank, VNPT and EVN
VietNam Electricity
VietNam Electricity is the largest power company in Vietnam having an installed electricity generation capacity of 8,860 MW and a distribution network of...
.
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.In January 2007, the government announced that it would sell a minority stake in the BIDV and three other banks. In March of that same year, they sought the government's permission to invest in highway projects. In September, they announced that they would form Vietnam's first aircraft finance group in Hanoi in a joint venture with Vietnam Airlines
Vietnam Airlines
Vietnam Airlines Company Limited, trading as Vietnam Airlines , is the national flag carrier of Vietnam. Founded in 1956 under the name Vietnam Civil Aviation, the airline was established as a state enterprise in April 1989. Vietnam Airlines is headquartered in Long Bien, Hanoi, with hubs at Noi...
, PetroVietnam
Petrovietnam
PetroVietnam is the trading name of Vietnam Oil and Gas Group . PetroVietnam has developed rapidly since it was established in 1977, and its activities, through its various companies and wholly owned subsidiaries, now cover all the operations from oil and gas exploration and production to...
, and Vietnam Post and Telecommunication.