2023 Business Review and 2024 Direction: Continuing the three values of Trust – Connection – Consistence


On 19/01/2024, BIDV – SuMi TRUST Financial Leasing Company Limited (BSL) organized the 2023 Summary and 2024 Orientation event.

The event was attended by Mr. Pham Quang Tung, Member of the BIDV Board of Directors and Chairman of the BSL Board of Directors for the 2017-2020 term, Mrs. Pham Thi Ngoc Anh, Director of the Financial Institutions Department of BIDV and Vice Chairman of the BSL Board of Directors for the 2020-2023 term, as well as representatives from various departments of BIDV, the Executive Board, and all BSL staff members.

2023 – Strengthening trust, strengthen cohesive relationships, and remaining steadfast in pursuing the set goals.

Alongside the special event, commemorating the 50th anniversary of diplomatic relations between Vietnam and Japan and the elevation of their relationship to a “Comprehensive Strategic Partners for Peace and Prosperity in Asia and the World”, 2023 also marked the milestone of 10 years since BIDV and the Sumitomo Mitsui Trust Holdings Group (SuMi TRUST) signed their first comprehensive cooperation agreement in April 2013.

Over the past year, BIDV and SuMi TRUST have conducted high-level visits and engagements to strengthen strategic cooperation. Particularly, in August 2023, BIDV and Sumitomo Mitsui Trust Holdings signed another comprehensive cooperation agreement to further expand their collaboration in various areas, including green finance. Notably, there is a strong commitment to support BSL’s operations.

Within this relationship, BSL stands as a testament to the success and plays a crucial role in strengthening trust between the two parties. BSL’s achievements clearly demonstrate the commitment and implementation of commitments from both sides.

Faced with a challenging year due to unpredictable economic and financial market developments, BSL has overcome obstacles and achieved commendable results through trust, connection, and consistence to our outlined strategy. With the unwavering support from its parent bank, customers, partners, and the implementation of its strategic objectives, BSL has surpassed the challenges of 2023.

At the end of 2023, BSL’s credit outstanding reached over ~4,600 billion VND. BSL has maintained a growth rate with an average annual growth rate of 44% over the past five years. Credit quality remains ensured, with a NPL ratio of approximately 1.38% and a coverage ratio of NPL of approximately 100%.

Mr. Nguyen Thieu Son, CEO of BSL, led the presentation on the Business Performance Summary for 2023 and the Direction for 2024.

In 2023, BSL also marked a year of implementing numerous internal projects, connecting various departments and branches of the company to enhance internal operational efficiency and improve customer satisfaction.

The company also implemented the SDGs (United Nations Sustainable Development Goals) and CSR (Corporate Social Responsibility) strategies, with a Sustainable Development Policy, which served as the foundation for building a framework for sustainable development, specific objectives, and action plans. BSL’s sustainable development strategy is based on three pillars: Governance, Environment, and Society.

The SDGs and CSR projects of BSL in 2023 focused on social welfare activities, directly assisting individuals in difficult circumstances through scholarship programs for students, livelihood support for families in need in Bac Giang and Quang Nam, providing medical equipment to hospitals, and distributing gifts to disadvantaged patients. BSL also implemented a Green Credit program that financed projects focused on green industries, renewable energy, green construction, and sustainable transportation.

2024 – Spreading the message of “Strength in Connection – Power in Togetherness”

In 2024, BSL will continue to focus on three major objectives: sustaining rapid and safe growth; improving business efficiency and enhancing partner satisfaction. To achieve these goals, it is necessary to embody the slogan “The Pursuit of Betterment” by improving the work environment, policies, business processes, and sustainable development targets. It is understood that these projects require patience and perseverance. We recognize that to achieve significant change and development, it is not only essential to have clear plans and objectives but also the commitment and unity of the entire team.

Mr. Takahashi Satoshi declared the message of “Strength in Connection – Power in Togetherness”

Mr. Pham Quang Tung and Mr. Nguyen Thieu Son awarded prizes to the Outstanding Project of the Year 2023

Mrs. Pham Thi Ngoc Anh, Director of the Financial Planning Department and Vice Chairman of the BSL Board of Directors for the 2020-2023 term, shared at the event

And most importantly, the key factor in creating a culture, work environment, and implementing the set strategies is the workforce. BSL is making efforts to build a progressive corporate culture and work environment through the trust and cohesion of the collective. We place value on unity and working together towards common goals, believing that through trust, cooperation, and mutual support, we can achieve success and progress.

BSL’s journey of sustainable development is always guided by the spirit of “The Pursuit of Betterment”. We are always ready to accept challenges and learn from obstacles. This spirit drives us to continuously improve and develop, while also providing a solid path for BSL to become a leading financial leasing company in Vietnam.

Here are some notable images from 2023:

BIDV and SuMi TRUST during the signing ceremony of the Comprehensive Cooperation Agreement

The Chairman and CEO of Sumitomo Mitsui Trust Holdings visited BSL

In 2023, BSL organized a series of events to commemorate the “50th Anniversary of the Establishment of Vietnam-Japan Diplomatic Relations.” This event was part of BSL’s sustainable development strategy to promote collective and social activities that highlight cultural values and strive for a balance between work and life.