Bidv raises 11tr dong from prize based saving programme

Bidv-Eastern Hanoi Branch on May 14 announced it successfully raised nearly 11 trillion dong from the prize based saving programme-Phase 1.

In related news, the bank organised the debut of Bank for Investment & Development of Cambodia (BIDC), first branch of Bidv in Cambodia on May 15. Present at the event were Vietnamese deputy prime minister Truong Vinh Trong and Cambodian deputy prime minister Men Sam An.

BIDC was operational from last September; two months after Bidv officially announced the presence in Cambodia, with a chartered capital of $70 million and became the second largest commercial bank in the neighbouring country.

After two months of operation, BIDC reported profits and its total assets were raised to $150 million, increasing by 100 percent against the initial capital.

Apart from BIDC, Bidv also opened the representative office and invested in other business facilities in Cambodia, such as IDCC, and Cambodia Vietnam Insurance JSC (CVI).

TBKTVN

Tags: BIDV, vietnam bank, Vietnam finance, Vietnam financial

Posted by VBN on May 17 2010. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry