BIDV Son La Accompanying Businesses

 

Since its inception in 1957 as capital allocation until the switch to a commercial bank, BIDV Son La strived to overcome the specific difficulties of this mountainous province. Over the long term, the branch has been active and flexible in its business plan to complete its political tasks and business targets.

 

In recent years, despite the difficult context of the economy, BIDV Son La has achieved many positive results. In the two years 2013-2014, the scale of operation increased by nearly 20 percent, outstanding quality control is good, and the bad debt ratio was less than 0.5 percent of total loans. Every year, BIDV Son La spends VND 4,000 billion for investment loans and provides working capital for projects, especially projects in the fields of hydropower and agriculture, the strengths of the province. Not only guaranteeing income and stable life for officers and employees and contributing VND 1-2 billion per year to local budget (although accounting units are centralized in Hanoi), BIDV Son La also actively participates in social welfare activities; and funds VND 5 billion for the construction of community houses, boarding house for students, giving warm clothes, blankets and gifts to the poor people.

 

According to Nguyen The Dung, Director of BIDV Son La, the results are because the branch always adheres to the socio-economic development direction of the province and proposes appropriate measures. BIDV Son La boldly innovated to find appropriate business plans to adapt to fluctuations of the economy. In particular, during operation, BIDV Son La always regards the customer as the centre to share the opportunity, including the advantages and difficulties, timely providing information and advice, and acting as a bridge to help customers implement efficient projects.

 

The relationship of cooperation between BIDV and Son La province has been well developed and continues tightening through the active support and commitment of credit of BIDV leadership to the provincial government.

 

Specifically, at the end of January 2015, Son La province was assigned by the Northwest Steering Committee to host the Conference announcing the decision of the Prime Minister approving the master plan for Moc Chau national tourist site and Conference on investment promotion, social security and honour businesses in Northwest area. This is an important event in terms of scale and stature, as well as an opportunity for Son La to have breakthroughs in the future. To prepare for the event, BIDV and PPC held a seminar and disclosure of potential investment opportunities in the province of Son La and Moc Chau national tourist site (dated 16 December 2014 in BIDV Hanoi). On this occasion, the Chairman of the BOD BIDV continued the commitment that BIDV continues to accompany Son La province in introducing investors to projects in the province, especially in Moc Chau national tourist site. BIDV will apply the most preferential policies, facilitate support and arrange credit for qualified investors through VND 2,000 billion credit package with preferential interest rates.