BIDV joins hands with Edmond de Rothschild to provide Private Banking services

On November 16, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Edmond de Rothschild held a signing ceremony for a strategic cooperation contract.

The signing of the strategic cooperation contract will lay the foundation for Edmond de Rothschild to support BIDV in training and improving the capacity to deploy international standard Private Banking services; an important factor contributing to promoting strong changes in banking and financial services in Vietnam. At the same time, the cooperation between the two brands aims to develop specialized investment products, smart, effective and safe service solutions for high-end Vietnamese customers.

At the signing ceremony, Mr. Phan Duc Tu - Chairman of BIDV Board of Directors assessed that Vietnam is a developing country with a dynamic economy and people's income growing every year. The trend of consumption, investment and asset accumulation is posing a huge demand for personal financial services in the market. With the signing of a strategic cooperation contract between BIDV and Edmond de Rothschild, the Vietnamese financial market has the presence of a world-leading financial institution in the field of high-end personal asset management.

“Through the cooperation, BIDV Private Banking customers will have the opportunity to access specialized investment products, smart, safe and effective financial service solutions; connect with the global elite and experience the unique ecosystem of Edmond de Rothschild in Europe. Customers will also be served by a team of professional asset management directors, well-trained according to the elite standards of Swiss banking services,” said Mr. Tu.

Ms. Ariane de Rothschild - CEO of Edmond de Rothschild Group shared: “I am very enthusiastic about the strategic partnership with BIDV. This cooperation represents a shared vision to meet the needs of Vietnamese entrepreneurs. Expanding our presence in Vietnam is a testament to our pioneering approach, and our belief in the spectacular growth and attractiveness of the Vietnamese market in Southeast Asia. Vietnam is a clear opportunity for us to expand our network, by combining our experience with BIDV's excellent position and track record in the region.”

Mr. Christophe Caspar - Global CEO of Asset Management, Edmond de Rothschild Group said: “This strategic partnership with BIDV - a leading bank in Vietnam - is an important step in Edmond de Rothschild's development plan to access potential markets, in line with our global orientation and unique positioning. Based on the 250-year history of the Rothschild family in the banking and finance sector, we are delighted to share our experience with BIDV and together with BIDV achieve new milestones to become the number one Private Banking bank in Vietnam.”

Previously, in April 2023, the two sides initiated the relationship with a memorandum of understanding on strategic cooperation to enhance Private Banking services in Vietnam. This is considered a perfect piece in the supply chain of comprehensive and complete banking products and services for customer segments at BIDV, affirming its position as a leading bank with a good digital platform, aiming at BIDV's goal of becoming a leading financial institution in Southeast Asia and a Top 100 Bank in Asia by 2030.

After 66 years of development, BIDV is connecting more than 500,000 corporate customers, nearly 18 million individual customers and 2,300 financial institution customers. In recent years, BIDV has pioneered the trend of providing Private Banking services.

With the mission of setting new standards in the premium Personal Banking Services industry, BIDV Private Banking is committed to accompanying customers with comprehensive investment and asset management solutions provided by a team of elite Asset Management Directors.

In 2023, The Asian Banker Magazine voted BIDV as the bank with the best Private Banking Service in Vietnam with a global partner ecosystem, international standard model, diverse and specialized product and service portfolio and a set of high-class privileges.

Founded in 1953, Edmond de Rothschild is a Private Banking and Wealth Management firm serving an international clientele of families, entrepreneurs and institutional investors. The Group also operates in Corporate Finance, Private Equity, Real Estate and Fund Services. As of December 31, 2022, the Group manages assets of approximately USD 180 billion with 2,500 employees and 30 locations worldwide.

Le Thanh

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