Branch I - Our Beautiful Youth

April 1991. That memorable day, as an employee of the Accounting Department at the Central Investment and Construction Bank, I officially received a transfer order from the leadership to take on a new assignment at the Exchange Office as Chief Accountant leading the Treasury Accounting Department. Although I had worked in the Accounting Department of the Vietnam Investment and Construction Bank for 11 years, when I arrived at Branch I for my new role, I was still filled with indescribable feelings and a great deal of anxiety.

As we began our new work, Mr. Hien (who was then Deputy Director of Trading Office I) and I visited partner banks to learn from them. Every task started from opening and registering accounts for operations, to setting up ledgers and documents, and establishing accounting procedures. Back then, the only tool supporting accounting work was the manual NISA calculator for basic arithmetic operations; all accounting tasks had to be recorded by hand. At the end of the day, even a single-dong discrepancy between Debits and Credits was enough to make us break out in a cold sweat. Yet, looking back, manual accounting work was truly fascinating. It helped us, as accounting professionals, gain a deep understanding of accounting processes and the tight interconnection between detailed and general ledger accounting. Through this, it also helped staff accumulate experience in identifying errors and enhancing audit skills...

The documents archived today at Branch I likely still include those very first trial balances I prepared myself. The handwriting and numbers from those early days are still there… they may not be beautiful, but they bear the mark of Branch I’s inception.

Then, two years after the establishment of Branch I, computerized accounting was also implemented. Branch I was prioritized to receive one computer, and only IT engineers were permitted to use it. At that time, Branch I did not have any computer engineers. The IT Department of the Central Bank for Investment and Development also had only about 4–5 staff members. Consequently, IT engineers from the Central Bank for Investment and Development (such as Ms. Nhu, Ms. Hai, etc.) were successively seconded to Branch I to enter accounting documents at the end of the day. The accounting process was streamlined by eliminating the need to post entries to subsidiary ledgers, general ledgers, and prepare trial balances. However, in the early days of computerized accounting, there were so many errors. While the “zero-balance” errors were eliminated, there were still many account and amount errors because the computer engineers entered data too quickly and didn’t pay close attention. Moreover, with several batches of documents entered at once each day, errors were inevitable... Looking back at accounting practices of the past, they seem quite outdated, don’t they? But without the past, there would be no present; it took immense effort and intellect to reach where we are today.

The strength of Branch I lies in capital mobilization. From its inception, it was imbued with that “special talent” by its “founders.” That talent has remained deeply ingrained to this day.

In 1992, capital mobilization at BIDV was a brand-new endeavor. Branch I was always entrusted with the task of piloting new products. Products such as gold-backed promissory notes, housing savings accounts, and long-term bonds were successively launched—products that other banks had not yet introduced. Many insiders wondered if these initiatives would succeed. Yet, the “fate” bestowed by our “founders” gave Branch I the strength to move forward. Fund-raising desks were set up throughout the courtyard of the main headquarters at 194 Tran Quang Khai Street. Staff from various departments at the main headquarters were also mobilized to support the fund-raising efforts. Even those unskilled in counting money were assigned to work as cashiers; those unskilled in bookkeeping were assigned to work as accountants. Everyone had to memorize the procedures to explain and guide customers.

Word spread quickly… customers flocked in droves to deposit money and gold. The crowds were so large that tickets had to be issued to maintain order. Thanks to thorough and meticulous preparation, staff worked tirelessly, forgetting to eat or rest, to meet customers’ deposit requests. The daily work was grueling, but the end-of-day tasks were even more so: counting cash, counting gold, and reconciling ledgers until 7 or 8 p.m. Only when we saw a desk with a smile did we know things were “under control.”

At the end of the campaign, the results were beyond imagination. Branch I always accounted for about one-third of the total capital mobilization across the entire system. Through these capital mobilization campaigns, the staff of Branch I and the Head Office grew increasingly close and united.

In 1999—the day Branch I moved its headquarters to 53 Quang Trung—we were all sad to be leaving the Main Office. Ms. Phung Thi Van Anh—Chairwoman of the Board of Directors—and Mr. Trinh Ngoc Ho—then General Director—were both worried about whether the move would be beneficial for business operations. Then, the first customer to visit the new location turned out to be the one with the highest bad debt, which left Mr. Le Dao Nguyen (then Director of Branch I) both annoyed and amused...

However, this period marked the most significant transformation, serving as a turning point for Branch I. From the full implementation of an organizational model capable of handling all operations to the Head Office leadership’s proactive selection and deployment of staff to strengthen Branch I. The staff were both dedicated and capable; the office was modern and well-equipped; employees wore uniforms that were both stylish and elegant... With a professional work ethic, unity, and a shared commitment under the leadership of Captain Le Dao Nguyen, the number of customers grew steadily, and the first-floor transaction counters soon had to be expanded to accommodate the increasing demand. The leadership team proudly named Branch I the “Steel Fist.”

In 2000, with the leadership’s forward-thinking vision for expanding the system’s network—including extending operations to the northern gateway of Hanoi—Branch I was entrusted with the critical task of taking over the second-tier Gia Lâm branch from the Hanoi branch. The goal was to attract customers in this area and quickly elevate the Gia Lâm branch to first-tier status.

Thus, Branch I embarked on a new set of tasks: taking over operations; reorganizing staff assignments and stabilizing the organizational structure; and encouraging customers to conduct transactions at the Gia Lâm branch… At that time, I was Deputy Director of Branch I and was additionally assigned by the leadership to serve as Director of the Gia Lâm Regional Branch (now the North Hanoi Branch). Joining me were my close colleagues: Khuyen, Head of the Credit Department at Branch I, was appointed Deputy Director of the branch; Nga (now Deputy Director of the Dong Do Branch) became Head of the Finance and Accounting Department; Lan Anh (currently Head of the International Money Transfer Department at the Payment Center) became Head of the International Payment Department; Ngân worked in Credit; Dai handled administrative credit operations,… All of us, along with the branch staff, quickly adapted to our new roles under the close guidance of the leadership team, particularly Mr. Le Dao Nguyen. The branch gradually transformed, grew stronger, and established its position in the eyes of customers in the northern Red River region.

In early 2003, I left Branch I to take on a new assignment at BIDV Headquarters. The practical experience I gained during my time at Branch I proved invaluable in my new role. The memories of my time at Branch I remain vivid in my mind to this day.