News

BSL Holds the Members’ Council Meeting for Q4 2024

17/12/24

On December 13, 2024, BIDV-SuMi TRUST Leasing Company Limited (BSL) convened its Q4 2024 Members’ Council Meeting. This final meeting of the Members’ Council for 2024 served as an opportunity to review the company’s business performance over the past year and outline the business plan for 2025.

The hybrid meeting was held both in person and online, with the main venue being BSL’s Ho Chi Minh City Branch office. It was attended by all Members of the Council and representatives from the two parent banks—BIDV and Sumitomo Mitsui Trust Bank (SuMi TRUST)—as well as Sumitomo Mitsui Trust Panasonic Finance Co., Ltd. (TPFC). On this occasion, Management Board of BSL visited the Ho Chi Minh City Branch to assess the working environment and engage directly with employees. The visit took place in a cheerful and open atmosphere, fostering conversations between the leaders and branch staffs about the branch’s operations. It also included words of recognition, encouragement, and expectations from the leaders for the branch’s future contributions.

The office tour took place in a joyful and open atmosphere.

The final Members’ Council meeting of the year aimed to discuss, assess, and acknowledge the business performance in the second half of the year as well as summarize BSL’s operations over the first 11 months of 2024. More importantly, the Members’ Council reviewed and deliberated on the progress of the medium-term business plan for 2022–2024, while proposing effective solutions and strategic directions for the next three years, from 2025 to 2027.

Despite a robust GDP growth rate of 6.82% by the end of Q3 2024, credit demand remained subdued in many sectors where BSL’s clients operate, amid uneven economic recovery. Non-performing loan (NPL) ratios and Group 2 loan rates (G2) of financial institutions in Vietnam showed signs of increase.
Confronted with these challenges, BSL remained steadfast in its commitment to sustainable development and strived to become the third-largest financial leasing company in Vietnam by outstanding lease balance. In a volatile market, BSL faced common industry pressures, including rising NPL and G2 rates. However, the company managed to maintain its loan quality within target limits, achieving NPL and Group 2 ratios ranked among the best in the sector, along with stable asset growth compared to industry peers. The Members’ Council recognized 2024 as a pivotal year for BSL, marking its resilience in overcoming adversity and laying the groundwork for accelerated growth in 2025, despite falling short of some initial targets.

The Members’ Council reviewed and evaluated the implementation of the medium-term plan for 2022–2024, noting that the company had performed well, even exceeding certain targets set for this period. Based on these achievements, the Members’ Council set its strategic directions for 2025–2027, establishing assumptions and scenarios to prepare for the next three years. Core strategies and detailed plans were presented for council members to discuss and contribute, fostering the overall development of BSL.

At the meeting, Ms. Phạm Thị Ngọc Anh, Chairwoman of the Members’ Council, shared: “We have gone through a challenging yet remarkable year in 2024, serving as a critical test in our development journey. BSL has demonstrated its resilience and ability to maintain its position in the industry. In 2025, we see many opportunities to accelerate growth, better meet customer demands, enhance profitability, and deliver greater value to stakeholders.”

Speaking at the meeting, Mr. Nguyễn Thiều Sơn, CEO of BSL, emphasized: “After more than seven years of operation, BSL has gradually built a strong brand in the market, establishing a solid position in the financial leasing sector. This achievement is thanks to the unity and efforts of all employees, the guidance of the Members’ Council, and robust support from our two parent banks, BIDV and SuMi TRUST. In the coming period, BSL will continue to innovate and expand its services to achieve sustainable growth, bringing more value to customers and partners.”

The meeting was held with the full attendance of the Members’ Council

At the end of the meeting, representatives of the Members’ Council from Japan presented commemorative gifts to members in Vietnam as a gesture of gratitude and recognition for BSL’s contributions over the past 7 years.

With a clear strategy and strong commitment from the Members’ Council, BSL is confident in stepping into 2025 with ambitious goals, continuing to affirm its position in the market.

My Hoàng