BIDV has received the "Best SME Bank in Vietnam" award for the sixth year in a row.

DNHN - The award recognizes the role and efforts of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) to become a solid pivot in the development journey of the business community in general, and small and medium-sized entpr.

BIDV was recognized as the "Best SME Bank in Vietnam - Best SME Bank of Vietnam" on September 7, 2023, in Singapore, as part of the 17th "Best Financial Institution Awards" program sponsored by Alpha Southeast Asia International Magazine. Alpha Southeast Asia Magazine has presented this award to BIDV for the sixth year in a row.

Mr. Siddiq Bazarwala, Editor-in-Chief of Alpha Southeast Asia Magazine, stated at the ceremony, "Over the past few years, BIDV has promoted the implementation of various digitalization solutions, thereby assisting SMEs in reducing costs. reducing costs and enhancing the effectiveness of production and business operations. Efforts for the SME community continue to affirm BIDV's position as the best bank in Vietnam, with a growing and dominant number of SME customers in Vietnam.

Director of BIDV's Corporate Banking Department Pham Thi Van Khanh stated, "The award is a recognition of BIDV's outstanding efforts and achievements in partnering with SMEs to provide a product ecosystem and comprehensive, flexible digital services that meet all customer needs."

BIDV identifies SME customers as crucial to the bank's business strategy. Therefore, the bank always prioritizes resources to support and create the most favorable conditions for small and medium-sized enterprises (SMEs) to expand their production and business activities, thereby enhancing their competitiveness and product quality. Beginning at the start of 2023, BIDV has actively deployed credit packages with a total value of over VND 280 trillion and interest rates ranging from 0.5% to 2% per annum to assist businesses in recovering, maintaining, and developing their products. business matters.

In addition, BIDV has actively waived and reduced a number of service fees for businesses, including DigiUp's support for a variety of fees; Trade Booming's support for exchange rates, and free international money transfers for import-export businesses... BIDV also actively promotes the digitization of the supply chain financing process. Investing in an online SCF platform helps to increase processing speed, enhance the customer experience, and respond quickly to customer financing needs. BIDV has also issued credit products according to sectors and industries with shortened processes and competitive mechanisms to promote the growth of industry credit, such as a package of corporate finance products for the pharmaceutical industry, electrical equipment manufacturing, construction, and installation...

With the motto "Customer-centric, technology-based breakthrough," BIDV is constantly at the forefront of innovation to lead the trend of digital transformation in the financial sector; it offers a comprehensive digital banking ecosystem with exceptional features and utilities. Outstanding digital programs implemented by BIDV to enhance the customer experience include the online loan program, BIDV iBank, and BIDV iConnect. Especially, BIDV SME EASY Digital Platform (https://smeasy.bidv) .com.vn), developed by BIDV according to the One-stop Shop model (One destination - Multi-service), provides synchronous financial and non-financial solutions for customers; Support to increase internal resources, improve financial health and competitiveness for SMEs. The platform's interface for female entrepreneurs was also designed with the phrase "Shine with women-owned SMEs" in mind.

With comprehensive solutions, BIDV's journey of accompanying and developing SMBs has yielded a multitude of impressive outcomes. By August 31, 2023, BIDV's SME customer base will exceed 371,000; outstanding credit debt will reach 42% of the total outstanding debt of corporate customers, an increase of 7.5% over the same period in 2022; and BIDV will continue to maintain its leading position in the SME customer segment of the Vietnamese market.

Alpha Southeast Asia Magazine (Hong Kong) is a publication specializing in Southeast Asian capital markets and banking; it is widely read by banks, financial institutions, and professional investors in Hong Kong, Singapore, the United States, Europe, and the Middle East. The Magazine organizes the annual awards system in a transparent and prestigious manner, attracting the participation of the world's leading banks.

Cam Oanh