Strategic collaboration between BIDV and Edmond de Rothschild enables the provision of preeminent private banking services in Vietnam.

DNHN - The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Edmond de Rothschild formally executed the Strategic Cooperation Contract on November 16, 2023, in Hanoi.

This partnership will enable the two parties to collaborate to furnish affluent individual clients in Vietnam with the chance to utilize and access financial services of the highest caliber.

This is the first strategic partnership between the preeminent investment institution in the world and the financial institution with the longest history and largest total assets in Vietnam. in Europe, multinational banking, property management, and development operations.

Edmond de Rothschild's support for BIDV in training and enhancing its capacity to deploy Private Banking services by international standards will be made possible through the signing of the strategic cooperation contract. This is a significant factor that will contribute to the advancement of substantial changes in the banking and financial services sectors in Vietnam. Concurrently, the collaboration between two prominent brands seeks to create intelligent, efficient, and secure service solutions as well as specialized investment products for affluent Vietnamese clientele.

Mr. Phan Duc Tu, Chairman of the Board of Directors of BIDV, stated at the signing ceremony: "Vietnam is a developing nation with a dynamic economy, and the average annual income of its citizens increases. Consumption, investment, and asset accumulation trends are generating a substantial market demand for personal financial services. With the signing of a strategic cooperation agreement between BIDV and Edmond de Rothschild, a world-renowned financial institution specializing in personal asset management has entered the Vietnamese financial market for the first time. Customers of BIDV Private Banking will have access to specialized investment products and intelligent, secure, and efficient financial service solutions through collaboration; networking with the international elite, and experiencing Edmond de Rothschild's distinctive ecosystem in Europe. Additionally, a group of proficient asset managers who have received rigorous training by the highest Swiss banking service standards attends to the needs of the clientele.

Ms. Ariane de Rothschild, general director of Edmond de Rothschild Group, also spoke at the ceremony: "The strategic cooperation relationship with BIDV fills me with great enthusiasm. A common objective of this collaboration is to address the requirements of Vietnamese entrepreneurs. Our decision to increase our operations in Vietnam serves as evidence of our innovative strategy and our conviction regarding the remarkable expansion and appeal of the Vietnamese market in Southeast Asia. Vietnam presents a glaring opportunity for us to augment our network through the integration of our expertise with BIDV's outstanding standing and accomplishments in the area."

Mr Christophe Caspar, Edmond de Rothschild Group's Global CEO of Asset Management, concurred: "This strategic partnership with BIDV, the preeminent bank in Vietnam, is an advance. vital to the development strategy of Edmond de Rothschild to penetrate potential markets, consistent with our global focus and distinctive positioning. "Drawing from the Rothschild family's extensive 250-year business legacy in the banking and finance sector, we are delighted to impart our knowledge to BIDV and collaborate with you in attaining unprecedented heights of success as the leading private banking institution in Vietnam."

Before this, the two parties established their relationship in April 2023 through the execution of a strategic cooperation memorandum aimed at enhancing private banking services in Vietnam. Asserting its status as a leading bank in Vietnam with the best digital platform, BIDV views this as an ideal component of the supply chain for comprehensive and complete banking products and services for customer segments. By 2030, the bank aspires to be the preeminent financial institution in Southeast Asia and one of the Top 100 Banks in Asia.

Concerning BIDV and high-end banking services Private Banking by BIDV

With a preeminent position in terms of total assets, BIDV is the oldest financial institution in Vietnam, having been founded in 1957. BIDV has contributed capital to the majority of the nation's major projects after 66 years of sweat and toil. Numerous prestigious awards have been bestowed upon BIDV in recognition of the confidence, assistance, camaraderie, and participation of over 500,000 corporate clients, close to 18 million individual clients, and 2,300 financial institution clients at present. BIDV, which has been the leading retail bank in Vietnam for the past eight years, has been at the forefront of introducing private banking services. In pursuit of establishing novel benchmarks in the upscale personal banking sector, BIDV Private Banking is devoted to assisting clients by offering all-encompassing asset and investment management solutions administered by a panel of Directors. Exceptional asset administration. BIDV was named the bank in Vietnam with the most exceptional Private Banking Service by The Asian Banker Magazine in 2023. The publication cited BIDV's diverse and specialized product and service portfolio, global partner ecosystem, and the international standard model. The most prestigious set of privileges available.

Concerning Edmond de Rothschild

Edmond de Rothschild, an investment institution employing efficient financial strategies, functions under the guiding principle that wealth represents a chance to establish a brighter future. Edmond de Rothschild serves an international clientele consisting of institutional investors, families, and entrepreneurs within the Private Banking and Wealth Management sector. Additionally, the Group is involved in real estate, private equity, corporate finance, and fund services. Edmond de Rothschild, a firm distinguished by its adherence to a family model, possesses a reliable approach to management and the financial fortitude required to suggest audacious tactics and investments. throughout the long term. Established in 1953, the Group supervised an estimated $180 billion in assets as of December 31, 2022. It operated from 30 global locations and employed 2,500 individuals.

Nguyen Tin