BIDV and VDB Strengthen Cooperation, Aiming for Sustainable Development
In Hanoi, BIDV and the Vietnam Development Bank (VDB) signed a Comprehensive Cooperation Agreement for the 2026–2031 period, ushering in a new phase in the cooperative relationship between these two major Vietnamese financial institutions
Strengthening Cooperation in Key Areas for Both Institutions
Under the agreement, BIDV and VDB will leverage each other’s complementary strengths and enhance coordination in key areas such as: credit provision and project co-financing, capital and foreign exchange operations, domestic and international payments, trade finance, cash management, green finance, digital banking, and modern financial services.
The cooperation between the two parties is built on the synergy of BIDV’s strengths—as a commercial bank with an extensive network, a robust technology platform, and a diverse financial services ecosystem—and those of VDB, the state-owned policy bank that plays a crucial role in implementing state-backed development investment and export credit programs. In addition, the two banks will strengthen cooperation in promising areas such as sustainable finance, cross-selling of products, retail banking services, insurance services, as well as training and knowledge-sharing activities.
This marks an important milestone in the strategic partnership between these two major financial institutions, representing a long-term, strategic collaboration in key areas such as project financing and co-financing, capital and foreign exchange operations, domestic and international payments, trade finance, settlement accounts, cash management, and banking services for customers and partners within both institutions’ ecosystems.
Speaking at the signing ceremony, BIDV Chairman Phan Duc Tu affirmed: “The partnership between BIDV and VDB is a special, strategic relationship based on leveraging each party’s strengths and ensuring no conflict of interest. Today’s comprehensive cooperation agreement will be implemented in a concrete and substantive manner by both parties. In particular, both parties are interested in expanding cooperation in areas within BIDV’s ecosystem—such as insurance, securities, and financial leasing—to better support VDB in meeting the increasingly diverse needs of its customers.”
VDB Board of Directors Chairman Le Van Hoan also shared: “In line with the Government’s directives, VDB’s business operations have shown significant improvement in recent years, gradually enhancing autonomy and independence, focusing on comprehensively developing internal mechanisms and policies, and expanding the scope of operations, thereby opening up many new development opportunities. We hope that BIDV will continue to be a key partner and ally in VDB’s mission, working together to leverage each other’s strengths to provide the best possible service to our customers. At the same time, both parties will actively exchange and share experiences, standards, and best practices to support VDB in comprehensively innovating its banking operations in the coming period…”.
In the coming period, BIDV and VDB will continue to intensify the practical implementation of cooperation initiatives through close coordination between business units at their headquarters and branch networks nationwide. This cooperation will not only help improve the quality of customer service but also serve as a driving force for both parties to develop safely, effectively, and sustainably, thereby making a positive contribution to the country’s socio-economic development goals.
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