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VietNamNews

BIDV says operations stable after arrest of former chairman

Update: November, 30/2018 - 16:00
Customers and staff at a BIDV branch. — Photo nganhang24h.vn
Viet Nam News

HÀ NỘI — The Bank for Investment and Development of Việt Nam (BIDV) affirmed all of its operations were stable, safe and effective while the legal and legitimate rights of customers and shareholders were being ensured following the arrest of former chairman Trần Bắc Hà.

The Investigation Police Agency under Việt Nam’s Ministry of Public Security on Thursday began criminal proceedings against Hà for “violating regulations on banking operations and other banking-related activities”. Also under investigation were Trần Lục Lang, former senior executive vice president of BIDV, Kiều Đình Hòa, former head of BIDV Hà Tĩnh, and Lê Thị Vân Anh, former head of BIDV Hà Tĩnh’s corporate division.

As the largest commercial bank in Việt Nam by assets, BIDV said it maintained its business continuity, stability and development without being affected by the above-mentioned case.

BIDV is a primarily State-owned commercial bank with the longest history in Việt Nam.

By the end of this month, BIDV had basically completed its business targets set for 2018 by shareholders.

Its total assets reached VNĐ1.255 trillion; outstanding loans increased by 13.5 per cent, non-performing loans (NPLs) were controlled at a low level of under 1.6 per cent; and profit growth hit 18 per cent. Safety indications were ensured in accordance with the law and international practices. International ratings firm Moody’s recently upgraded BIDV’s baseline credit assessment from B3 to B2.

The bank committed to improving the quality of its services and applying modern banking technology to better meet the needs of customers, it said.

Earlier, the State Bank of Việt Nam said in a statement the violations were found several years ago.

"All BIDV operations are normal with stable liquidity and all benefits of customers and depositors are ensured," the central bank said.

It added the SBV had instructed BIDV to take measures to resolve and collect debts for the bank according to laws and regulations. — VNS

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