BIDV elevates private banking business through strategic partnerships

BIDV (Bank for Investment and Development of Vietnam) has achieved remarkable growth and success in the private banking sector, positioning itself as a leader in providing high-quality services to high-net-worth individuals (HNWIs).

BIDV claims to be the only bank in Vietnam that is actively developing a dedicated private banking business. The bank has forged strategic partnerships with Edmond de Rothschild, a Switzerland-based investment house renowned for its long-standing legacy in wealth management, and Dragon Capital, an investment firm based in Vietnam specialising in frontier and emerging markets. These collaborations have significantly enhanced BIDV's product and advisory capabilities, enabling the bank to offer bespoke solutions tailored to the unique needs of HNWIs.

In 2023, BIDV witnessed an impressive 83% increase in private banking clients and a 23% growth in assets under management (AUM). This performance reflects the bank's dedication to providing top-notch advisory services and innovative financial products. The bank's focus on building robust client relationships and offering comprehensive wealth management solutions has set it apart in the competitive Vietnamese market.

BIDV's collaboration with Edmond de Rothschild and Dragon Capital has enabled the bank to offer a wide range of exclusive services, including personalised investment strategies, estate planning, and access to global financial markets. These partnerships have also facilitated knowledge transfer and best practices in wealth management, further strengthening BIDV's capabilities.

Edmond de Rothschild is a prestigious investment house headquartered in Switzerland, known for its expertise in wealth management, asset management, and private banking. With a history dating back to 1953, the firm has built a reputation for delivering tailored financial solutions to discerning clients worldwide.

Dragon Capital, based in Vietnam, is a leading investment firm specializing in frontier and emerging markets. Established in 1994, Dragon Capital manages a diverse portfolio of assets and is recognised for its deep understanding of the Vietnamese market and its commitment to sustainable investment practices.

BIDV's leadership in private banking is a testament to its vision of becoming the premier provider of wealth management and advisory services to HNWIs in the country. By continually enhancing its offerings and forging strategic partnerships, BIDV is well-positioned to meet the evolving needs of HNWIs and drive the future growth of Vietnam's private banking sector.