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Introduction

Message from CEO

Looking back to see the development of BIDC over the past 6 years, BIDC has achieved remarkable achievements. From a bank named Prosperity Investment Bank (PBI) with a small amount of charter capital at just under 15 million US dollars in assets, after restructuring activities in the late 2009, BIDC has grown rapidly with the total asset average growth rate of 30.6% per year. Its size quickly expanded to seven branches in Cambodia and Vietnam. However, due to the unfavorable conditions in Cambodia from the late 2013 to the end of 2014, BIDC’s operations were negatively affected which resulted in a slow growth rate. Under the directives of BIDC’s Board of Management, in line with our ultimate goal of long term sustainable growth, in 2014, we have devised many effective and efficient measures to implement and ensure BIDC’s smooth operations.
· Firstly, there is a strong shift towards retail activities, and a shift of target customers from average class to all income class.
 
· Secondly, there is an increase in BIDC’s product variety, such as an introduction of Scratch and Win 2014 Fixed-Deposit Promotional Saving Product, which was highly appreciated by our value customers.
 
· Thirdly, human resources are considered the most important factor for BIDC’s past and future success. Therefore, we continue to promote the recruitment and training of local manpower and rotate important internal positions at the corporate levels.
 
· Fourthly, we carefully assess the amount and type of risk will be accepted by BIDC in line with its business objectives, and closely monitor the bank’s systems and processes to manage those risks.
 
· Fifthly, we have gradually built a corporate culture and created a linkage between the bank’s staffs and the management.
Despite the challenges and increased competition in the banking industry and political instability in Cambodia, in 2014, BIDC’s operations were still manageable with fairly stable growth rates compared to 2013. By the end of the year 2014, BIDC’s total assets reached 590 million USD, up 19% within a year period; outstanding loans hit 433 million USD, a 15% increase compared to 2013; and the number of the personnel climbed to 355 officers.  
BIDC has expanded itself quickly within this six-year period with the total number of seven branches in both Cambodia and Vietnam. Among the seven branches, 3 of them are located in the capital city of Cambodia, Phnom Penh, where it is recognized as political and economic center of the country, and BIDC is expected to establish more branches in the upcoming year to better serve our value clients. Along with the related unit is Cambodia-Vietnam Insurance Company Plc (CVI), which its main operation is in the field of non-life insurance, BIDC and CVI formed a link chain to meet the diverse needs of our clients in the field of banking and insurance, which will eventually improve operational efficiency for BIDC.
In 2015, we believe that BIDC will continue to firmly move forward in business operations, hold a key role in the banking and financial market in Cambodia, continue to expand the network, improve and put on the market more variety of banking products and services.
On behalf of Management Board, I would like to sincerely thanks to our clients who choose to believe in BIDC ever since. We are committed to always be there, share and support our clients in the difficult times, and we always respect the values ​​of loyalty of our clients. I also recognize and highly appreciate the contributions of the staffs who have been very dedicated and helpful in the development of BIDC. I am proud of what BIDC has achieved and extremely excited about the opportunities that lie ahead.
 
Nguyen Quoc Hung
Chief Executive Officer