BIDV Bac Lieu: Where Faith Shines

With the nonstop efforts of all leaders and staff, BIDV Bac Lieu has achieved many successes in raising funds and developing credit. In just the first 6 months of 2013, the funding activities of BIDV Bac Lieu grew 17 percent compared to the end of 2012, leading to total credit outstanding of VND1,170 billion at BIDV Bac Lieu, of which there is VND572 billion of loans focused on agriculture and rural development such as aquaculture, individual households, cooperatives and businesses of seafood processing and procurement and salt production, and the loans account for 44.6 percent of total outstanding loans.

 

To increase credit efficiency, BIDV Bac Lieu is constantly improving the management and administration capacity and the professional qualifications of its staff and employees. Along with the launch of the new product packages and utilities such as Mobile Banking Services; BIDV BankPlus services cooperates with BIDV and Vietnam Military Telecom Corporation (Viettel) to allow customers to perform banking transactions by mobile phone quickly, safely and accurately and VISA credit products which are linked to Manchester United Club, which helps BIDV provide more incentives for customers and helps the bank to attract more idle capital from public, increasing the liquidity of the local banking system.

Currently BIDV Bac Lieu is developing the credit package to support individual households to buy and repair houses at preferential interest rates of 10 percent, and 9 percent for businesses. This package is applied at the first 6 months and after that, the preferential rate of 10 percent of BIDV is only applicable for a number of priority group customers in the fields of agriculture and rural development, export, supporting industries and small and medium enterprises. Especially, BIDV is introducing a credit package to finance social housing projects at very attractive interest rates, in accordance with government regulations on the interest rate of 6 percent per year. BIDV Bac Lieu is one of the leading banks to implement Decision 780 of the State Bank of Vietnam on debt restructuring, extension of repayment periods and lower interest rates for customers able to pay their loans. The total credit for businesses in the field of fisheries in the past year has reached VND69 billion.

BIDV but also is one of the donors contributing significantly to local social security. In the period of 2011 to 2013, BIDV contributed more than VND30 billion to the construction of kindergartens, charity houses, etc. Moreover, BIDV also organized many local visits to send the gifts to poor households in the province, building 10 houses for Khmer people, and it is the 3rd year BIDV has sponsored 5 households facing difficulty with VND3 million per household per year on average, and supported the households of invalids and martyrs with an average VND1 million per household per month. With such remarkable contributions, BIDV has become a major supporter for the economy and the people of Bac Lieu.