Introduction to BIDV Bank, BIDV Bank – Ha Tay Branch and our project
Bank For Investment And Development Of Vietnam JSC ( BIDV Bank)
The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), founded on April 26, 1957, has evolved over 60 years into Vietnam's largest joint stock commercial bank As of 2016, BIDV boasts total assets exceeding 1 million billion dong and employs more than 256,400 staff members.
Some milestones in the history of BIDV
Figure 1 BIDV Bank’s history is summarized through the following memorable milestones:
With 60 years of operation, BIDV has become the largest commercial bank in Vietnam.
BIDV is a key player in Vietnam's banking system, significantly contributing to the country's overall growth while setting benchmarks for other commercial banks in operational capacity, risk management, and efficiency Its strengths include a well-established brand, substantial scale, and high-quality services compared to its competitors.
BIDV is committed to enhancing its capabilities and consistently launching innovative products and services to meet the evolving market demands Despite the challenges faced in the financial market in 2016, BIDV swiftly adapted to the changing business landscape, achieving notable success that year Key financial statistics highlight BIDV's resilience and effective response to market conditions.
- As of 31 December 2016, BIDV's total assets reached 1.006.404 billion, the bank was continuing to be the leading commercial joint stock bank in Vietnam.
- With continual improvement, BIDV has won a number of impressive awards including “National Brand” (5 times in a row), “top 2000 largest and most powerful in the world” voted by Forbes Magazine.
Introduction of BIDV Bank – Ha Tay Branch
BIDV Ha Tay, a subsidiary of BIDV, was established on June 1, 1960, previously managed by the Ha Son Binh Investment and Development Department As of January 1, 1995, the branch focuses on mobilizing short, medium, and long-term capital in both Vietnamese Dong and US Dollars to facilitate its lending activities across three term types.
Over 57 years, BIDV Ha Tay has operated in accordance with the direction of the Board of Directors of BIDV as well as the guidelines, policies of the gorvernment, and make the safe target in business to meet the biggest request of clients on products and services at the lowest cost.
BIDV Ha Tay Branch is one of the larger commercial bank branches in Hanoi, employing a total of 167 staff members, including a director and three deputy directors The branch features a well-defined organizational structure that supports its operations.
- Subordinate (7 transaction point)The organizational structure of BIDV Ha Tay branch is shown in the following diagram:
Figure 2 : The organization structure of BIDV- Ha Tay Branch
Overview of our project
Housing loan services have become an increasingly important product for each Vietnam commercial bank As a result, they always find some solutions to improve this type of loan.
BIDV Ha Tay, located in the densely populated Ha Dong District, is strategically positioned to cater to the increasing demand for housing, particularly as investors focus on residential projects like Xuan Mai and HUB3 To remain competitive, it is essential for BIDV Ha Tay to expand its home loan services The growing urban population necessitates a shift towards apartment projects, highlighting the need for BIDV to tap into new market segments This context underpins our project aimed at enhancing home loan services for apartment buyers in Hanoi, addressing the challenges currently faced by the BIDV Ha Tay branch.
- To explore the demand of house loan service
- To exploit a new potential market
- To propose potential solution to improve house loan services
* This table below sets some basic information of members in group 1:
Last name First name Phone/Email
Tel: 0971878696 Email : Sep2093@gmail.com
Tel: 0965335597 Email : antruongpham1010@gmail.com
Tel: 0965156574 Email : Tuyetlinh.21197@gmail.com
Tel: 0985545205 Email : Tathanhtam1997@gmail.com
Tel : 0988833597Email : dinhmia@gmail.com
Project implementation at BIDV Ha Tay
Overview of BIDV house loan service for individual
Overview of the product for individual customers
Individual customers include people who reside or work frequently in the same area with the financing BIDV branch
- The loan amount is up to 70% ( especially, 100%) the house price
- The Loan period is up to 240 Months
- Various payment methods include monthly, quarterly, semi-annually, annually method
- Interst rate usually fluctuates around 7-7.8% in the first year and 10.5 – 11% from the second year, which does not offer more incentives than other banks do.
- Lending method applied is Partial method
- The collateral is the unit which has certification of land use right Condition of the customers
- The customers must be within the working age from over 20 to not over 60 when the loan expires
- The customers have no bad debt of more than 3 months at the bank and other credit organizations as of the time of the loan
- The financial situation is good and have clear evidences of sound financial status
- During the committed period, customers must have enough financial capability to take repayment of both the principle and interest.
- Customers must have enough equity capital, which related to the loan following the policy of the bank.
The house loan service process for individuals begins with the customer care officer providing detailed information about various house loan products They also offer guidance on the incentives, advantages, and disadvantages associated with different loan packages, ensuring customers are well-informed before filling out their loan applications.
The customer then fills in a loan proposal form Data provided in the proposal form will then be evaluated by credit officers.
Step 2: Appraisal of customer’s data The profile of customer will be handled through the risk management department to check the accuracy and the risk if any This process will include:
+ Appraisal of Customer information: Loan conditions, legal entity, income, marital status
+ Appraisal of loan payment ability.
+ Appraisal of customer purpose of borrowing.
+ Check the collateral asset information, and evaluate the value of asset in reality.
Step 3: Entering into a contract with a customer The authorized leader of business can allow the loan.
The contract outlines the legal obligations of both the bank and the customer, detailing the product package provided to the customer It will be executed by the customer and the bank's legal representative, becoming effective upon signature by both parties.
After that, the bank will carry out the disbursement of the loan and commence to monitor customer’s payback activities.
1.2 Evaluating BIDV house loan product for individual
Through some data we collected and studied, we set up the SWOT table to have a common view about BIDV individual house loan product.
Table 1: swot of bidv individual house loan product
- Has large budget and strong operation.
- Staffs who have good training programs about banking operations.
- Various promotion forms Product can meet a most demand of customer ( 100% value of house )
- Appraisal process loss much time
- Similar product with other bank
- Project building saw an increasing trend
- A huge demand of customer This product has become more popular with people.
- The competition among banks become more intense.
- Bad debt is the most dangerous with the bank
To assess the house loan products offered by BIDV in the current market, we compare them with similar offerings from Vietcombank and VIB, two of the largest banks in Vietnam and direct competitors.
Table 2 Comparing house loan products among banks
Loan period 20 years 15 years 25 years
Loan records Notarized copies of ID or passport
Temporary resident book/ family record book
Document related to real estate planned to purchase
Proof of financial capacity, repayment capacity
Document related to the purchase and sale of real estate
Customer age From 20 to under 60 Under 45 From 18 to under 70
( Sources : Summarize from www.BIDV.com.vn/, www.Vietcombank.com.vn, and www.vib.com.vn )
The table highlights the features of house loan products from three state-owned commercial banks: BIDV, VIB Bank, and Vietcombank VIB Bank and Vietcombank are notable competitors of BIDV, each possessing similar market capabilities Overall, the banks present distinct offerings, each with unique benefits tailored to meet diverse customer needs.
The most attractive interest rate of this product stays at 7.5% per annum, and it is obvious to see BIDV and Vietcombank enjoys a better advantage in terms of interest rate.
VIB Bank offers a longer loan term of 20 years compared to BIDV's 15 years However, BIDV provides a competitive edge with a maximum loan ratio of 100% of the property's value, while VIB Bank only offers 70% to 80% Consequently, BIDV stands out in terms of maximum loan ratio, making it a more attractive option for borrowers seeking favorable interest rates and extended loan periods.
Loan records must include the same documents mandated by all three banks, adhering to government regulations Notably, BIDV offers loans to customers aged between 20 and 60 years.
Meanwhile, the customers of Vietcombank are limited to those under 45, and VIB bank welcomes a broad range of customers above 20 and under 70 years old to apply for house loan product.
Analyzing the actual situation of house loan for individual at BIDV Ha Tay
Total outstanding loans ( in VND billion) 4215 5909 6974 7893
Outstanding loan of personal customer
The proportion of individual/total
(Source: the data from Customer relations management department)
This table compares the information about outstanding loans of BIDV Ha Tay branch over a 4 year period from 2014 to 4 th quarter of 2017 in billion dong.
Overall, individual outstanding loans increased continually over the years, which also facilitated the improvement in lending effectiveness of BIDV Ha Tay branch.
In 2014, personal customer loans represented only 11.72% of total loans, amounting to 494 billion dong This figure increased slightly to 13.08% in 2015, marking a 1.36% rise from the previous year By 2016, personal loans grew to 1,026 billion dong, reaching a peak of 1,260 billion dong in the fourth quarter of 2017, which accounted for 15.78% of total outstanding loans These trends indicate that individual lending has significantly contributed to the positive evolution of retail credit within the BIDV system.
Figure 3: The increasing trend of outstanding balance of house loan.
(Source : the data from Operation department)
This chart compares outstanding housing loans out of total individual loan forms In general, housing loans constituted the largest part in the total individual loans.
In 2014, the outstanding balance of this type of loans reached 294,754 million dong In
In 2015, the loan type experienced significant growth, reaching 453.6 trillion dong, which marked a 43.2% increase compared to 2014 This upward trend continued in 2016, with the total rising to 582.5 trillion dong, reflecting a 28.41% increase The peak was achieved in 2017, with the loan type reaching 634.9 trillion dong, an increase of 52.4 trillion dong from 2016 and 340.2 trillion dong from 2014.
In 2017, BIDV launched the "Nha tai loc, don yeu thuong 2017" program to align with the growing market trend of increased retail credit, positioning housing loans as a primary lending service The initiative offers specific incentives to attract borrowers.
- Interest rate: the branch shall take initiative in determining for each specific customer according to each program to ensure business efficiency.
- Insurance incentives: reduce insurance fees.
- BIDV Online, BIDV smart banking, BIDV-SMS.
In 2017, there was a significant rise in housing loan products, enabling borrowers to secure loans of up to 100% of a property's value These loans now offer flexible collateral options, allowing for a mix of customer or third-party guarantees Additionally, the loan term has been extended to a maximum of 20 years, enhancing accessibility for potential homeowners.
From 2014 to 2016, BIDV Ha Tay branch focused on offering a variety of housing loans, recognizing them as key products for generating sustainable income for banks Building on central housing loan packages, including a notable 15 trillion dong loan initiative, BIDV developed attractive housing loan options to appeal to individual customers Furthermore, the branch partnered with reputable investors on quality projects, collaborating with developers in areas such as Xuan Mai, Vimeco, Van Phu, and Van Khe to expand its customer base.
Figure 4 The number of customers using house loan service in BIDV
(Source : data from the customer relations department)
The number of customers is a crucial indicator of a bank's service quality, reflecting overall customer satisfaction In response to loan demand, BIDV has tailored its personal loan offerings to meet client needs Since 2014, BIDV has seen a steady increase in individual customers, highlighting the bank's growing appeal in the market.
The number of individual customers in 2014 was 1375 but by 2015 it increased to 1686, an increase of 311 customers (22.61%) compared to 2014 By 2016, the number of customers reached
2252, with 566 customers more than 2015 and 877 customers more than 2014, up 41.16% from
2014 In 2017, the figure climbed to 2846 customers, 594 more than 2016.
Between 2014 and 2017, the number of housing loan customers at BIDV experienced a steady increase, highlighting the significance of housing loans in generating substantial revenue for the bank In 2014, the bank disbursed loans to 178 customers, which rose to 365 in 2015, reflecting an 18.4% growth By 2017, the customer base for apartment loans surged to 450, demonstrating a remarkable growth rate of 52% This trend indicates that the apartment segment has become increasingly attractive in recent years.
Ha Tay branch should pay attention to this segment and develop a suitable strategy to expand this segment.
Survey implementation
A survey was conducted to assess the demand, characteristics, and opinions of potential customers interested in borrowing money for apartment purchases Our research utilized two methods: social networks and direct interviews We focused on BIDV customers, as well as individuals who had not previously used BIDV services, based on information provided by our supervisor.
Through the group’s discussion and guideline of our supervisor, the questionnaire includes 11 questions :
- Question 1-3 : The characteristics of customers who want to buy apartments
- Queston 4-8 : Focusing on the demand using home loan service to buy apartments
In our research on BIDV home loan products, we gathered customer opinions from five key areas: Ha Dong, Thanh Xuan, Cau Giay, Nam Tu Liem, and Dong Da District.
The consequence we received is 467 responses included 300 valid opinions and 167 invalid opinions.
During the analyzing process, we use to calculate the information and check the validty of response.
Figure 5 : Age groups of customers Figure 6 : marriage situation
We divided customers into 4 age groups including under 25, from 25 to 35, from 36 to
A recent survey revealed that the age group of 25 to 35 years old represents the largest segment of loan borrowers, making up 48% of the total In contrast, borrowers under 25 years old constitute only 1% The 46 to 55 age group follows as the second largest, accounting for 36%, while those aged 36 to 45 represent 15% of all loan borrowers.
During our interview process, we engaged in discussions with customers to gather insights Notably, the 25-35 age group emerged as significant, as they are financially independent, employed, and actively saving for the future while preparing for marriage In contrast, the 46-55 age group primarily allocates their finances towards investing in their children's education and saving for future investments, such as real estate Additionally, a survey revealed that 37% of the 300 customers surveyed are still single.
The survey results indicate the current occupations of respondents, which are essential for assessing the validity of the data collected Civil servants and officers represent the largest group, making up 44% of the responses, while freelancers account for 36%, highlighting the growing job opportunities and competitive salaries in fields like graphic design due to internet advancements Businessmen constitute 15% of the respondents, followed by workers at 4% and others at just 1%.
Figure 8 : The demand of customers in price of apartment
The chart illustrates customer demand for apartments in Hanoi based on various price ranges Due to the high cost of housing in the city, we categorized the prices into four segments: 1-1.5 billion VND, 1.5-2 billion VND, 2-2.5 billion VND, and above 2.5 billion VND We excluded options under 1 billion VND as they do not align with current market prices Our data indicates that apartments within these price brackets are experiencing varying levels of demand.
Finding an apartment priced at 900 million VND in Hanoi is quite rare and challenging The more affordable options typically fall within the category of social housing or compensation apartments, which are often located far from the city center Research indicates that 64% of potential buyers prefer apartments priced between 1 to 1.5 billion VND, considering this range suitable for units sized between 60m2 and 70m2 Additionally, 23% of customers are interested in apartments priced between 1.5 to 2 billion VND, while 11% seek larger spaces priced between 2 to 2.5 billion VND Only 2% of respondents expressed satisfaction with apartments priced above 2.5 billion VND.
Figure 9 : Some issues customer care when they buy apartment
Recent data reveals that when purchasing an apartment, only 16% of buyers prioritize economic conditions, contrary to expectations This shift is largely due to the competitive housing loan packages offered by banks, providing consumers with a range of choices and alleviating financial concerns The primary focus for buyers remains on convenient locations, which account for 47% of their concerns, followed by environmental issues at 32% In comparison, security concerns are significantly lower, representing just 5% of buyer priorities.
A survey on apartment purchasing revealed that customers often rely on multiple funding sources, including savings, loans from family and friends, and bank financing While many individuals aim to save for their homes, this process can be lengthy, and they may not always have family or friends available to assist financially Additionally, bank loans typically require borrowers to contribute a portion of the home's value, as banks do not finance 100% of the purchase price The results indicated that 87% of respondents preferred economical methods, with 92% favoring bank loans, while borrowing from family and friends was less common, at 62%.
Figure 11 : The estimated payment each month Figure 12 : Loan period
According to the responses collected, 52% of customers reported spending less than 10 million VND on bank loans each month, while 39% indicated monthly payments between 10 to 20 million VND Additionally, 9% of customers were willing to pay between 20 to 30 million VND monthly A significant majority expressed a preference for longer loan terms, with 54% opting for periods exceeding 20 years The second most popular choice was a loan duration of 15 to 20 years, selected by 42% of respondents, while only 6% preferred a term of 5 to 10 years.
Figure 13: Some channels that make customers know about BIDV product
BIDV's house loan product is primarily recognized through media channels (31%) and the Internet (38%) The bank enhances its reputation through strategic advertising on TV and banners, while customer confidence is built upon the data, policies, and information shared online, along with endorsements from economics professors and reputable organizations Additionally, BIDV's success significantly contributes to its positive reputation However, it is noteworthy that 20% of respondents remain unaware of BIDV's house loan offerings.
Figure 14: Some factors in loan product that customers care.
The key factors driving customer interest in BIDV House loan products include the long loan term, which is the most significant aspect for 49% of respondents Additionally, interest rates play a crucial role, with 42% of customers prioritizing this feature in their decision-making process.
Figure 15: The limitations of BIDV
The findings reveal clear limitations in BIDV services, with 72% of respondents citing cumbersome procedures as a primary concern Additionally, many believe that BIDV's lending conditions are more stringent compared to other banks Notably, there were no comments regarding the competency of BIDV staff.
Recommend practical solutions for the branch
The BIDV Ha Tay branch has requested our team to suggest practical solutions to enhance banking operations We believe that improving housing loan services can be achieved through several strategic initiatives.
Improving relationship with the investors and the real estate enterprises
In Hanoi, real estate market is very crowded while bank market is very competitive.
Some banks constantly offer some incentive programs to attract customers As a result, BIDV
The Ha Tay branch should strengthen its relationships with investors by developing a specialized home loan product tailored for real estate projects This initiative will attract more customers, alleviating their financial burdens while simultaneously boosting apartment sales.
Banks currently offer two types of interest rates: fixed and floating Many bank incentive programs utilize floating rates, which can pose a risk to customers If market interest rates rise significantly, customers may face higher payments, leading to increased financial pressure.
To effectively navigate the floating rate environment, customers must maintain a keen awareness of financial market trends Therefore, we believe that banks should develop an Individual Financial Management Service to assist customers in planning house sales and accurately assessing market conditions.
All of this can help the customer having the exact choice for themselves.
Marketing activities Plan 1: Traditional way – Leaflet
Leaflet is a very popular way of advertising As a result, we proposed to make a feasible marketing plan in accordance with the survey results to improve BIDV’s leaflet:
Targeted customers include officers and civil servants from 25 to 35 years old The apartment segment falls in the range from cheap to medium price.
The targeted locations include university campuses, hospitals, and companies in the Ha Dong, Thanh Xuan and Cau Giay Districts
Time to conduct is within 2 months Our goal: we set a relatively ambitious goal of obtaining above 100 customers using BIDV house loan program and making customer know about BIDV.
Estimated cost 4 million VND per month for printing.
2 million VND for Supporting cost ( oil, meals ) Implementation :
Attractive slogan“Share opportunities, cooperate successfully “ Colors: Red, Navy, White – 3 specific color of BIDV Leaflet must be designed more colorful in A4 form with some incentives of programs and contact.
Staff must be trained about attitude when they communicate with customers Staff uniform should include red hat, white shirt and navy trousers.
We prioritize efficiency by avoiding organized reference or customer meetings, recognizing that time is precious for our busy clients, including officers and civil servants with demanding 8-hour workdays Instead, we provide comprehensive information about our house loan products, allowing customers to explore these details at their convenience through BIDV Customer Care services if they are interested.
Recording result, each weak and writing report each month
Plan 2: Cost optimization way - Through Bidv customer
BIDV Ha Tay has established connections with various companies, hospitals, schools, and universities in Ha Dong and Thanh Xuan Districts to facilitate salary payments via card, highlighting a significant potential customer base for enhancing housing loan services Customers are increasingly utilizing BIDV's mobile services to monitor their income, making it easier for BIDV Ha Tay to disseminate information about incentive programs and housing loan products through banking SMS or announcements to organizational managers.
The adoption of this method offers numerous advantages, notably a significant reduction in advertising costs, eliminating expenses related to printing and distribution of leaflets while enabling rapid and accurate updates for customers Additionally, BIDV Ha Tay can effectively manage and mitigate bad debts by gathering extensive customer information, allowing the bank to gain insight into their financial situations This wealth of data streamlines the loan appraisal process, ensuring that reliable customers are approved for loans, thereby alleviating concerns about loan recovery.
Vietnamese customers come to the bank to deposit and conduct the transactions.
However, personal financial advisory services are not popular with Vietnamese customers.
Following that, we have an opinion about the method to improve BIDV Ha Tay house loan service.
In recent years, BIDV launched the "BIDV Online" mobile app, enabling customers to monitor their account status and conduct transactions conveniently The app provides detailed insights into loan borrowers, enhancing its utility for both users and bank tellers in managing customer needs Despite its advantages, the app does have certain limitations.
Many users often forget to pay the monthly interest on their loans, leading to potential issues Unfortunately, the app lacks a notification feature to remind them of these payments Consequently, tellers are sometimes required to reach out via phone to remind customers of their obligations.
The app lacks updates on incentive programs and does not provide a detailed monthly interest payment schedule, making it difficult for customers to actively monitor their loans This issue has led to complaints from users at the BIDV Ha Tay branch.
In my opinion, the bank needs to update this function for app to improve the customer services:
They can create the detailed monthly interest payment schedule system for app for people can actively follow their loans and avoid some late payment penalties.
To enhance customer satisfaction, banks must implement precautions for unexpected situations, such as clients wishing to terminate contracts before the agreed-upon term By addressing these issues through a dedicated app, banks can streamline the process and improve user experience.
Accessing the project implementation at BIDV Ha Tay
Discussion with BIDV Ha Tay branch
In this article, we highlight the successful completion of our project goals set by the supervisor We concentrated on the findings of a comprehensive report and proposed effective solutions for the BIDV Ha Tay branch to enhance their product offerings.
The recent report indicates a growing demand for apartments, particularly among officers and civil servants seeking affordable housing options To capitalize on this trend, BIDV Ha Tay branch should implement targeted policies and strengthen partnerships with investors to enhance this market segment and boost home loan opportunities Additionally, the branch must address existing procedural and lending condition limitations to better serve potential customers.
The supervisor emphasized the need for the bank to prioritize a specific segment, a viewpoint that will be acknowledged in internal discussions Mr Phi Dinh Thi provided insights into BIDV's challenges, noting that the rise in bad debt has been a significant issue for Vietnamese commercial banks, particularly following the real estate bubble burst in 2007 Consequently, BIDV has focused on mitigating this concern by implementing a rigorous appraisal process for loans.
In 2015, BIDV implemented a temporary policy halting house loans for properties without a red book, or land use rights certificate, to enhance asset control and mitigate the risk of bubbles and bad debt While other banks continued offering such loans, BIDV viewed this measure not as a restriction but as a protective strategy to safeguard against risks and improve overall service quality.
Our supervisor also added some opinions about the solutions for BIDV Ha Tay branch.
The proposed leaflet solution was met with disagreement due to concerns over increased time and costs while yielding less effective results Historically, this approach was utilized when technology was less advanced, but it is now deemed outdated and inefficient.
As technology has evolved, traditional methods have become ineffective, leading the bank to reject them Instead, the bank is keen on implementing a word-of-mouth strategy through BIDV Ha Tay customers, considering it a viable option for enhancing their apartment loan and general credit services in their 2018 strategy Additionally, the bank recognizes the absence of supporting customer applications, highlighting the need for such a system However, they acknowledge that developing this capability exceeds the branch's current resources and will require authorization from BIDV headquarters, indicating that there is still significant work to be done to address this challenge.
At the conclusion of our discussion, our group received appreciation and gratitude from our supervisor and the staff at the BIDV Ha Tay branch for our valuable contributions to enhancing the branch's operations.
Result assessment
Period Task Objective Participants Expected result
Meet the bank and define the issue
- Discussions with managers and staff on BIDV Ha Tay branch operation
All members Set up the name of project report and set up objective to do
Prepare for step the of project
- Set up a suitable timetable and plan for each member
- Evaluate the cost which happen during the project
All members Make team work’s mental between partners
From 26th October to 7th November, 2017
- The data for overview and history of BIDV on the internet
- Some documents relating to house loan’s situation at BIDV Ha Tay branch ( annual report,…)
- Study the policy of the bank and the process of house loan service
- Set up the clear and suitable structure of the project.
All members All members can know everything what they have done and some objectives in the future that they must follow to completely done the report.
- Set up a questionnaire survey to
All members Collect a survey result to comment
3rd December, 2017 survey collect customers opinion about the house loan service
Share on the internet and propose the solution
Data analysis - Create the solution
- Depend on collecting data, our group built the imagine structure of project in writing.
- Adjust if it is indispensable after the last discussion
Finished the preparation before the oral presentation
- Submit the project All members Complete the final project
The project was executed according to the established outline, providing an opportunity for our group to apply and expand our classroom knowledge in real-world scenarios Throughout the implementation process, we faced several challenges, but we remained committed to delivering a valuable outcome This section summarizes our activities, the obstacles we encountered, and the knowledge and experiences we gained along the way.
From 5th to 25th October, 2017
Expected result : set up the name of project report – objective to do
We visited the bank branch to meet the manager and were granted permission to intern there After discussing our situation, we had a productive conversation with our direct supervisor, Mr Phan Dinh Thi, whose guidance was crucial due to our limited practical knowledge in banking Following his recommendations, we selected our project title and successfully achieved our expected results.
Expected rerult: Making team works’ mental between members
Our initial group discussion took place at Highlands Coffee, where we developed a plan tailored to each member's schedule After two hours of productive conversation, we encountered some challenges, as a few members faced conflicts with their daily activities, while others expressed disagreement with the group's arrangements.
However, we tried to resolve and found a better plan with the satisfaction of all The money matter was passed easily After meeting, teamwork spirit was established.
From 26th October to 7th November, 2017
Expected result : Studying about BIDV and BIDV House loan product.
Researching the BIDV Ha Tay Branch is crucial for our project, as it allows us to gather essential information about its system structure, history, and key products We analyzed financial reports indicating that revenue from house loan services significantly contributes to the branch's overall income, highlighting its importance for growth Our primary resource for this research was the internet, supplemented by reputable publications such as The Investor Real Times and banking magazines, from which our team collected valuable data.
We encountered challenges in obtaining primary data from our manager at the BIDV Ha Tay branch, as many internal documents and policies are restricted from public disclosure due to regulations set by BIDV headquarters After discussions with our supervisor, we reached an agreement to reserve certain data strictly for study purposes.
In this step, my group also learnt 2 necessary skills, namely communication and researching.
From 7th to 15th November, 2017
Expected result: All members can know everything what they have done and some objectives in the future that they must follow to completely done the report.
Following the collection of relevant statistics, our team held a productive discussion at a café, guided by our supervisor, where we established a clear project outline This collaborative effort ensured that all members comprehensively understood the tasks ahead Ultimately, we revised the timetable to ensure the timely completion of the project.
We achieved the result as expected without any conflicts
From 16th November to 3rd December, 2017
To effectively gather insights for our report, we developed a questionnaire aimed at assessing client demand in the apartment market segment Despite our initial challenges in creating a questionnaire due to our lack of experience, a productive discussion with our supervisor enabled us to successfully design our first survey.
We underwent a two-day training on customer communication skills, followed by practical experience at Xuan Mai Spark Tower, which enhanced our understanding of effective customer interaction After quickly conducting a questionnaire, we identified two initial mistakes: some survey questions were inappropriate for customers, and interviews took too long, averaging 20 to 30 minutes To address these issues, we revised the questionnaire to include multiple-choice answers and spent two days in discussion with our supervisor Subsequently, each team member was tasked with interviewing 5 to 10 people daily within a 15-20 minute timeframe However, we faced challenges as some customers were reluctant to participate, and others provided inaccurate information, complicating data classification Additionally, the demands of university exams and adverse weather conditions added to our fatigue We considered using online interviews through Facebook to streamline the process, but lack of financial support from the bank hindered our ability to implement this approach.
As a result, we dedicated remove this activity Finally, we collected 467 responses in total
In this step, there are 3 skills we have gained which are time management skill, customer communication skill, and how to set up a questionnaire.
From 5st to 20st January,2018
The most challenging aspect of our group's report involves analyzing and classifying the complex responses we gathered We utilize Topbank.vn, a well-known website that consistently provides accurate and timely updates on bank programs, to assist in our calculations By examining the information respondents provided regarding their chosen apartment prices, monthly budgets, loan durations, and current bank interest rates, we can effectively determine the validity of their responses.
The customer is seeking to purchase an apartment priced at a maximum of 2.5 billion VND, with a monthly payment limit of 20 million VND over a loan period of 10 years, and the current BIDV interest rate is 11.5% per annum To qualify for the bank loan, the customer needs to have 1 billion VND readily available, which is a challenge for a 25-35 year-old officer This indicates that the customer will require additional time to save enough funds to meet the bank's borrowing conditions Consequently, we have decided not to proceed with this request, emphasizing the need for a swift analysis in such situations.
Each team member was assigned a specific section of the final report, but we encountered significant challenges due to our varying levels of English proficiency This task consumed a considerable amount of our group's time Ultimately, we completed the report after collaboratively addressing grammar and vocabulary issues to ensure its quality.
Although we have face with a number of limitations, including capacity and time constraint, we finally completed the project and achieved all the objectives we set at the beginning
Our project significantly enhanced our understanding of the house loan products offered by the BIDV Ha Tay branch A key achievement was the development and finalization of a comprehensive questionnaire, providing valuable insights for the entire team These activities allowed us to gain a clearer perspective on banking operations, leading to well-informed proposals aimed at improving the house loan offerings at the BIDV Ha Tay branch, which were positively received by the branch management.
Throughout the execution of our project, we faced various challenges, yet our team collaborated effectively to accomplish key tasks This experience provided us with valuable insights into the practical work environment, enhancing our knowledge and skill set We look forward to more opportunities in the future to learn and thrive within the banking sector.
We are students from Rouen University conducting a project to assess the demand for apartment purchases and gather opinions on banking products Your participation in this simple survey will greatly assist us in completing our research Thank you for your support!
Thank you for spending time to response.
1 What is your age group ? under 25 25-35 36-45 46-55
3 What is your occupation ? Official, civil servants freelancer businessman worker others
4 You want to buy apartment in the price : 1-1.5 billion 1.5-2 billion 2-2.5 billion above 2.5 billion
5 What is the most concern when you buy an apartment ? Suitable with income Security Culture environment Convenient location
6 Where is your budget come from ? Saving Family and close friend Bank
7 How much money do you/ your family spend to payment for loan each month ? Under 10 million
8 How about the loan terms you want to borrow ? 5-10 years 10-15 years 15-20 years
9 How do you know about BIDV house loan services ? The media Acquaintance Banks’ staff Internet I have no idea
10 The most factor that make you care about BIDV house loan products : Interest rate
11 What is the limitations of BIDV services ? Cumbersome procedures Loan conditions is higher than other banks Loan product is limited Limited in staffs’ attitude