The Bank for Investment and Development of Vietnam (BIDV) is targeting up to 10% growth in pre-tax profit this year, backed by capital expansion and a tighter grip on bad loans.
BIDV will hold its annual shareholders meeting on April 4 to review its 2025 business plan and approve the appointment of additional board and supervisory committee members, who will serve through 2027.
This year, the bank expects pre-tax profit to grow by 6% to 10% compared to last year, which translates to about $129 million to $136 million. To meet this target, BIDV plans to strengthen its capital and keep its non-performing loan (NPL) ratio below 1.4%.
The bank noted that it achieved all of its business goals in 2024. In terms of profitability, BIDV ranked third among Vietnam’s commercial banks, following Vietcombank and VietinBank.
South Korea’s Hana Bank acquired a 15% stake in BIDV in 2019 by investing $711 million Instead of acquiring a full local bank, Hana entered the Vietnamese market by purchasing a minority stake.
