Bank for Investment and Development of Vietnam HONORING A JOURNEY OF DEDICATION
After nearly 70 years of development and growth, BIDV is proud to be one of Vietnam’s leading financial institutions. This achievement has been built and nurtured over the years by successive generations of dedicated and capable leaders and staff at BIDV—from the days of the Construction Bank, the Investment and Construction Bank, to the Vietnam Bank for Investment and Development.
On the occasion of Mr. Phan Duc Tu—Party Committee Secretary and Chairman of the Board of Directors of BIDV—retiring in accordance with regulations effective July 1, 2026, the Leadership Board, together with all BIDV officials and employees, would like to express our sincere gratitude for his immense contributions to the development of the bank.
Mr. Phan Duc Tu began his career at BIDV in 1987, spending 18 years at the Nghia Binh Branch of the Bank for Investment and Construction and the Quang Ngai Branch of the Bank for Investment and Development, rising from credit and capital officer to branch director. Through this grassroots experience, he gained a deep understanding of every foundational aspect of banking operations—a foundation that later shaped his leadership style in every role he held.
In 2005, he was transferred to the Head Office, where he served as Director of the Human Resources Department and then as Deputy General Director, directly overseeing the project to restructure the organizational model and and the TA2 business model—a comprehensive transformation in BIDV’s history that laid the foundation for a modern commercial bank. Starting in 2012, he served as General Director, and in November 2018, he was elected Party Committee Secretary and Chairman of the Board of Directors for the 2017–2022 term, continuing in these roles for the 2022–2027 term until his retirement.
Through nearly four decades of dedication and responsibility, he has worthily carried on the traditions of the bank’s past generations of leaders: dedicated service, and a commitment to both the organization and the nation.
In his role as Secretary of the BIDV Party Committee, he laid the foundation for the principle of Party building integrated with governance discipline—a central axis ensuring the system operates consistently. He also placed particular emphasis on building Party culture and corporate culture. For him, Party culture is the common thread running through BIDV’s corporate culture. He believes that corporate culture must become part of the organization’s “DNA”—embedded in the mindset, habits, and daily behavior of every individual within the organization—and, more importantly, must serve as a management tool and a driving force for the organization’s sustainable development to serve the banking sector and the nation.
Under his leadership, BIDV has continued to grow and solidify its position as the commercial bank with the largest total assets in Vietnam. During his tenure as Chairman of the Board of Directors (2018–2026), BIDV’s total assets increased 2.6-fold—from 1.31 million billion VND to 3.38 million billion VND; equity increased 3.2-fold, reaching 173,553 billion VND; and pre-tax profit increased 4-fold, reaching 37,778 billion VND.
He played a key role in laying the core foundations for the system’s sustainable development: shaping the long-term development strategy; expanding and strengthening the customer base to over 26 million individual customers; enhancing financial capacity; and, most notably, fostering a strong BIDV workforce. He personally chaired and led the strategic partnership with Hana Financial Group (South Korea) in 2019—the largest M&A deal in the history of Vietnam’s banking sector at that time.
He also laid the foundation for BIDV’s core technology strategy: successfully transforming the Core Banking Platform, which led to the creation of a “Make in BIDV” technology ecosystem; building a bank-wide internal digital ecosystem; and shifting more than 93% of transactions to digital channels. He was also the architect of comprehensive transformation strategies for both retail and wholesale banking; simultaneously, he spearheaded the rebranding and standardization of corporate culture based on the five core iBIDV values: Intelligence – Trust – Integrity – Loyalty – Aspiration, creating soft power that permeates the entire system.
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BIDV’s outstanding achievements in recent years have been recognized by the international community: BIDV ranks among the world’s 1,000 largest publicly traded companies (according to Forbes), among the top 200 most valuable global banking brands (according to Brand Finance), among the Top 50 largest companies in Southeast Asia and the leader in Vietnam’s banking sector (according to Fortune Southeast Asia 500).
Not only has he contributed to the bank’s development, he has also made significant contributions to the overall development of the banking sector and the nation’s economy; at the same time, he has played an active role in fostering economic and diplomatic ties with partner countries—through maintaining and expanding the operations of the Lao-Vietnam Joint Venture Bank (LVB), the Cambodia Investment and Development Bank (BIDC), establishing a presence in Myanmar, and forming joint ventures with leading companies from the United States, Switzerland, Canada, Japan, and other countries—and, in particular, through a strategic partnership with a South Korean company via the Hana Financial Group. These foundations and values serve as a valuable foundation for BIDV to continue expanding its reach.
Furthermore, under his leadership, BIDV has consistently been at the forefront of social welfare initiatives and budget contributions: During the 2012–2025 period, BIDV allocated more than 4,500 tỷ đồng to social welfare activities nationwide—ranging from education and healthcare to eliminating temporary housing, supporting the poor, and addressing the aftermath of natural disasters. BIDV has also paid over 81,000 tỷ đồng in taxes to the state, consistently ranking among the nation’s top enterprises in terms of tax contributions.
These contributions are tangibly evident across every region of the country. Each of these initiatives has become a beautiful part of BIDV’s culture—a culture in which compassion and human values are always prioritized. BIDV continues to affirm its role as a financial institution that is not only large in scale but also consistently prioritizes its responsibility to the community and its spirit of service to the nation.
One of the hallmarks of his leadership style is the spirit of “remembering one’s roots” and a deep respect for people. He has always valued the principle of gratitude toward previous generations, cared for the well-being of current staff and retirees, and placed people at the center of every development strategy. This spirit was institutionalized in the initiative to build “BIDV as the Bank of Happiness for Workers.”
Through his dedication, integrity, and long-term vision, he has helped build and strengthen the trust of Party, State, and Government leaders in BIDV, while enhancing the bank’s reputation among partners and international financial institutions.
Looking back on nearly four decades of service, one can discern consistent characteristics in his management style: a long-term strategic mindset; a balance and harmony between discipline, principles, and humanity; a spirit of bold innovation coupled with prudence and caution in every decision; and above all, a spirit of service—placing the interests of the organization, its customers, and the nation above all else. This is the style of a leader who both builds and preserves—driving the organization forward while nurturing sustainable values for future generations.
Throughout BIDV’s 70-year history, successive generations of BIDV leaders have guided the bank through challenging yet glorious chapters of its history—each generation leaving its own distinct mark and passing on to its successors a legacy of resilience, wisdom, and a passion for service. Mr. Phan Duc Tu has fully carried on that legacy: preserving the core values painstakingly cultivated by his predecessors while leading BIDV into a new phase of development in terms of scale, technology, and international standing. This continuity is a testament to the enduring vitality of BIDV’s culture—where each generation of leaders is a link in an unceasing journey of service.
He has set the vision to build BIDV into a leading Large, Strong, and Green Financial and Banking Group in Southeast Asia, striving to rank among the Top 100 strongest banks in Asia by 2030, and among the Top 50 by 2045, thereby contributing to the realization of the aspiration to make Vietnam a prosperous, developed nation.
The Leadership Board, along with all BIDV executives and employees, would like to express our deepest gratitude to Mr. Phan Duc Tu. We wish him continued good health, peace, and happiness.
BIDV would also like to extend our sincere thanks to our valued customers and partners for your continued trust and support throughout our journey. That trust and support serve as a precious source of motivation for future generations of BIDV staff to carry on the tradition, preserve the values that have been nurtured, continuously innovate, and write new chapters of development for a BIDV that is Large and Strong and Green, and for a prosperous and happy nation
