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), established on April 26, 1957, has evolved over six decades into Vietnam's largest joint stock commercial bank As of 2016, BIDV boasts total assets exceeding 1 million billion dong and employs over 256,400 staff, highlighting its significant role in the country's banking sector.
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 establishing benchmarks for other commercial banks in operational capacity, risk management, and efficiency Its strengths include a well-established brand, robust scale, and high-quality services that set it apart from competitors.
BIDV is committed to enhancing its capabilities and consistently launching innovative products and services to meet the evolving demands of the market Despite the challenges faced in the financial sector in 2016, BIDV swiftly adjusted to the changing business landscape and achieved notable success that year Key financial statistics for BIDV highlight its resilience and adaptability in a competitive environment.
- 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, originally managed by the Ha Son Binh Investment and Development Department As of January 1, 1995, the branch focused on mobilizing short, medium, and long-term capital in both Vietnamese Dong and US Dollars to facilitate its lending operations.
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 stands out as one of the larger commercial bank branches in Hanoi, employing a total of 167 staff members, including one director and three deputy directors The branch features a well-defined organizational structure that supports its operations and service delivery.
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 are crucial for commercial banks in Vietnam, particularly for BIDV Ha Tay, located in the densely populated Ha Dong District This area has attracted investors for housing projects like Xuan Mai and HUB3, highlighting the necessity for BIDV Ha Tay to enhance its house loan offerings to meet customer demand With a recent shift towards apartment developments to accommodate the increasing housing needs in urban areas, BIDV Ha Tay must target new market segments This focus led to the project: "Improving the house loan service for the apartment buying segment in Hanoi," addressing the challenges this service currently faces.
- 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: 0965335597 Email : antruongpham1010@gmail.com
Tel : 0988833597Email : dinhmia@gmail.com
Project implementation at BIDV Ha Tay
Overview of BIDV house loan service for individual
1.1 Introduction 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
- 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.
Process of house loan service for individuals
Step 1: Receiving and filling the loan application
First, customer care officer will present the information of house loan products to customers and some advice regarding incentives, advantages and disadvantages of some product packages.
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 specific product package provided to the customer It is executed by the customer and the bank's legal representative, becoming effective once signed 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 STRENGTHS
- Has large budget and strong operation.
- Staffs who have good training programs about banking operations.
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
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 Bank, both of which are among the largest banks in Vietnam and direct competitors in the industry.
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 book
Notarized home sales contract book
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
This article compares the house loan products offered by three state-owned commercial banks: BIDV, Vietcombank, and VIB VIB and Vietcombank are traditional competitors of BIDV, showcasing comparable market capabilities Each bank presents distinct offerings, highlighting unique benefits that cater to varying customer needs.
BIDV and Vietcombank offer competitive interest rates, with the most attractive rate at 7.5% per annum VIB Bank provides a longer loan term of 20 years compared to BIDV's 15 years However, BIDV stands out by allowing borrowers to secure loans of up to 100% of the property's value, whereas VIB and Vietcombank only offer 70% and 80%, respectively This combination of favorable interest rates, maximum loan ratios, and extended loan periods positions BIDV as a more competitive option in the market.
Loan documentation requirements are consistent across all three banks, adhering to government regulations BIDV offers loans to customers aged 20 to 60, while Vietcombank restricts eligibility to individuals under 45 In contrast, VIB Bank accommodates a wider age range, allowing applicants from 20 to 70 years old for their home loan products.
Analyzing the actual situation of house loan for individual at BIDV Ha Tay
Table 3 The proportion of outstanding loans of individual customer at Ha Tay
Total outstanding loans ( in VND billion)
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 the total loan amount, totaling 494 billion dong This figure saw a modest increase to 13.08% in 2015, reflecting a 1.36% rise from the previous year By 2016, personal loans surged to 1,026 billion dong, peaking at 1,260 billion dong in the fourth quarter of 2017, which accounted for 15.78% of total outstanding loans These trends indicate that the effectiveness of individual lending has positively influenced the retail credit strategy of 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 453,600 million dong, which marked a 43.2% increase compared to 2014 This upward trend continued into 2016, with the total rising to 582,486 million dong, reflecting a 28.41% growth The peak was achieved in 2017, with the loan amount soaring to 634,908 million dong, an increase of 52,422 million dong from 2016 and 340,150 million dong from 2014.
In 2017, BIDV launched the "Nha tai loc, don yeu thuong 2017" program to align with the growing market trend of retail credit, positioning housing loans as a primary lending service and offering 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 loans to cover up to 100% of a property's value These loans offer flexible collateral options, with terms extended to a maximum of 20 years Security for the loan can include various collateral from either the borrower or a third party, providing a combination of guarantees.
From 2014 to 2016, BIDV Ha Tay branch focused on housing loans as a sustainable income source for banks, offering a variety of housing loan products and services Leveraging central housing loan packages like the 15 trillion dong initiative, BIDV developed attractive loan options to draw in individual customers Additionally, the branch partnered with reputable investors of quality projects, collaborating on housing developments in areas such as Xuan Mai, Vimeco, Van Phu, and Van Khe to enhance its customer base.
Figure 4 The number of customers using house loan service in BIDV
(Source : data from the customer relations department)
The customer base is a crucial indicator of a bank's service quality, reflecting overall customer satisfaction In response to the growing demand for loans, BIDV has tailored its personal loan products to meet individual needs Since 2014, the number of individual customers at BIDV has consistently increased, demonstrating the bank's success in attracting and retaining clients.
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 gradually increased, highlighting the significant role of housing loans in generating revenue for the bank Specifically, the bank disbursed loans to 178 customers in 2014, which rose to 365 in 2015, reflecting an 18.4% increase By 2017, the number of customers borrowing to purchase apartments surged to 450, indicating a strong upward trend in housing loan activity.
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 two customer groups: existing BIDV customers, with information provided by our supervisor, and individuals who had not previously used BIDV services.
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
- Question 9-11 : The opinion of customers about BIDV home loan products
There are 5 areas we focus on the research: 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 reveals that the age group of 25 to 35 years constitutes the largest segment of loan borrowers, representing 48% of the total In contrast, borrowers under 25 years old make up a mere 1% The 46 to 55 age group follows as the second largest, accounting for 36%, while those aged 36 to 45 represent only 15% of borrowers.
During our interviews, we engaged in discussions with customers to gain insights into their financial behaviors Notably, individuals aged 25-35 are significant as they possess financial independence, actively save for the future, and are preparing for marriage In contrast, those aged 46-55 primarily allocate their funds towards their children's education, focusing on saving for the future through real estate investments Additionally, the survey revealed that 37% of the 300 customers surveyed are still single.
The survey results reveal insights into the current occupations of respondents, which are essential for assessing the validity of the data collected Notably, officers and civil servants represent the largest group, comprising 44% of the responses, while freelancers follow closely with 36% The rise of the internet has significantly increased job opportunities and earning potential for freelancers, particularly in fields like graphic design and information technology In contrast, businessmen account for 15% of the respondents, with workers at 4% and other occupations making up just 1%.
Figure 8 : The demand of customers in price of apartment
The chart illustrates customer demand for apartments in Hanoi, highlighting the high cost of housing in the city We categorized the price range into four segments: 1-1.5 billion VND, 1.5-2 billion VND, 2-2.5 billion VND, and above 2.5 billion VND, excluding options under 1 billion VND due to their current market inappropriateness Our data indicates that apartments within these price brackets are in demand.
In Hanoi, finding an apartment priced at 900 million VND is quite rare, with more affordable options typically being social housing or compensation apartments located far from the city center Research indicates that 64% of potential buyers prefer apartments priced between 1 to 1.5 billion VND, which they find suitable for sizes ranging from 60m2 to 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 are willing to consider 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 attributed to the competitive home loan packages offered by banks, providing favorable terms and a wider range of options The primary concern for 47% of customers is the convenience of the location, while environmental issues rank second at 32%, significantly overshadowing security concerns, which only account for 5%.
In a recent survey on apartment purchasing budgets, customers indicated multiple funding sources, primarily categorized into saving, borrowing from family and friends, and bank loans It was found that most buyers rely on a combination of these options rather than a single source While individuals can save money, this often requires a lengthy process, and there is uncertainty about the availability of financial support from family and friends Additionally, when opting for bank loans, borrowers need to provide a portion of the purchase price, as banks typically do not finance 100% of the property value The survey revealed that 87% of customers 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 our survey, 52% of respondents reported spending less than 10 million VND on bank loans each month, while 39% indicated expenditures between 10 to 20 million VND Additionally, 9% of customers were willing to pay between 20 to 30 million VND monthly The findings also revealed a strong preference for longer loan terms, with 54% of customers opting for periods exceeding 20 years The second most popular choice was a loan duration of 15 to 20 years, favored by 42% of respondents, whereas only 6% preferred a shorter 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, with 31% of awareness stemming from traditional media and 38% from the Internet The bank enhances its reputation through strategic advertising on TV and banners, while customer confidence is bolstered by the data and policies shared online, as well as positive reviews from economics professors and evaluations from reputable organizations Additionally, BIDV's success significantly contributes to its growing reputation However, 20% of respondents remain unaware of BIDV's house loan offerings.
Figure 14: Some factors in loan product that customers care.
The primary factor driving customer interest in BIDV House loans is the long loan term, cited by 49% of respondents Additionally, the interest rate is a significant consideration, with 42% of customers highlighting it as an important aspect of the loan product.
Figure 15: The limitations of BIDV
The results highlight significant limitations in BIDV services, with 72% of respondents citing cumbersome procedures as a primary concern Additionally, some feedback indicated that BIDV's lending conditions are perceived as more stringent compared to other banks Notably, there were no comments regarding the competence of BIDV staff.
Recommend practical solutions for the branch
According to the survey results, BIDV Ha Tay branch requires our group to propose some practical solutions which can improve the bank activities In our opinion, to improve
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.
Currently, banks offer two types of interest rates: fixed and floating Many bank incentive programs utilize floating rates, which can pose a risk to customers When interest rates rise significantly in line with market indices, customers may face increased payments, resulting in greater financial pressure.
To effectively navigate the floating rate environment, customers must possess a keen understanding of financial market trends Therefore, we believe banks should develop Individual Financial Management Services to assist clients with their home sales strategies and market assessments This support will empower customers to make informed decisions that best suit their financial needs.
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 )
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 our customers' time by avoiding scheduled meetings, understanding that many of them, including officers and civil servants, have demanding 8-hour workdays Instead, we provide detailed information about our house loan products, allowing customers to explore these options at their convenience through the BIDV Customer Care service.
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 officer salary payments via card, indicating a significant customer base for enhancing housing loan services Customers who utilize BIDV's mobile services can easily monitor their income, making it convenient for the bank to share information about incentive programs and housing loan products through SMS notifications or announcements directed to organizational managers.
This method offers several advantages, notably a significant reduction in advertising costs, eliminating expenses related to printing and distribution of leaflets while allowing for quick and accurate updates for customers Additionally, BIDV Ha Tay can effectively manage and mitigate bad debts by collecting extensive customer information, providing a clear view of their financial situations This wealth of data simplifies the loan appraisal process, enabling the bank to confidently lend to reliable customers and alleviating concerns about loan recovery.
Vietnamese customers frequently visit banks for deposits and transactions, yet personal financial advisory services remain underutilized among them To enhance the house loan services at BIDV Ha Tay, it is essential to focus on increasing awareness and accessibility of these advisory services, ultimately fostering a more informed customer base.
In recent years, BIDV launched the "BIDV Online" mobile app, enabling customers to monitor their account status and perform transactions conveniently The app provides detailed information for loan borrowers, enhancing user experience and assisting bank tellers in customer care Despite its many benefits, the app does have some limitations.
Many users often forget to pay the monthly interest on their loans, as the app lacks notifications to remind them Consequently, tellers are sometimes required to reach out via phone to alert customers about their overdue payments.
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 should implement measures to address unexpected situations, such as clients wishing to terminate contracts before the agreed-upon term By utilizing an app to manage these requests, banks can efficiently handle early contract terminations and improve overall user experience.
Accessing the project implementation at BIDV Ha Tay
Discussion with BIDV Ha Tay branch
In our discussion, we highlighted the successful completion of key objectives set by our supervisor We concentrated on the findings of our report and proposed several solutions aimed at enhancing the products offered by the BIDV Ha Tay branch.
The recent report indicates a growing demand for apartments, particularly among officers and civil servants seeking affordable housing To capitalize on this trend, BIDV Ha Tay branch should focus on developing targeted policies and strengthening partnerships with investors to enhance the affordable housing segment and boost the housing loan market 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 concentrate more on this segment, a viewpoint that will be acknowledged in internal discussions Mr Phi Dinh Thi provided insights into BIDV's challenges, highlighting that the rise in bad debt has been a significant issue for Vietnamese commercial banks since the real estate bubble burst in 2007 Consequently, BIDV has prioritized stringent appraisal processes to mitigate this problem and improve loan conditions.
In 2015, BIDV implemented a temporary policy halting house loans for properties lacking a red book, or land use rights certificate, to enhance asset control and mitigate the risks of a housing bubble and bad debts While other banks continued to offer such loans, BIDV viewed this measure not as a restriction but as a protective strategy to safeguard against potential risks and improve service quality.
The supervisor expressed skepticism regarding the leaflet solution for BIDV Ha Tay branch, citing inefficiency and outdated practices that do not align with current technological advancements Instead, they showed strong interest in leveraging word-of-mouth marketing through satisfied customers, which they plan to implement in their 2018 strategy for both apartment and general credit loan services Additionally, while they acknowledged the necessity of developing customer support apps, they recognized that this initiative exceeds the branch's current capabilities and requires authorization from BIDV headquarters, indicating a significant challenge ahead.
Our group received gratitude and appreciation 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
- 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
- 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 collect customers opinion about the house loan service
All members Collect a survey result to comment 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
Finished the preparation before the oral presentation last discussion
- Practiced oral presentation From 25st to
- Submit the project All members Complete the final project
The project was executed according to the established outline, allowing us to apply and expand our academic knowledge in real-world scenarios Throughout the implementation, we faced several challenges, but we persevered to achieve a meaningful outcome This section summarizes our efforts, the obstacles we encountered, and the valuable knowledge and experiences we gained during the project.
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 discussed our situation, which led to our acceptance as interns Following this, we had an important conversation with our direct supervisor, Mr Phan Dinh Thi, whose guidance has been invaluable due to our limited practical knowledge in the banking sector With Mr Thi's recommendations, we selected our project title and successfully achieved the expected results.
Expected rerult: Making team works’ mental between members
Our first group discussion took place at Highlands Coffee, where we created a plan based on each member's availability After two hours of discussion, we encountered some challenges with daily activities and differing opinions on the group arrangement Nevertheless, we worked collaboratively to resolve these issues and developed a more satisfactory plan for everyone Financial matters were addressed smoothly, and the meeting ultimately fostered a strong sense of teamwork among us.
From 26th October to 7th November, 2017
Expected result : Studying about BIDV and BIDV House loan product.
The data from the BIDV Ha Tay Branch is crucial for our group, as it allows us to gather essential information to complete our project Our initial research provided background details on the branch's system structure, history, and relevant products Additionally, we analyzed financial reports, revealing that revenue from housing loan services significantly contributes to the branch's overall income and is vital for its development To support our findings, we sourced reliable information from reputable publications, including The Investor Real Times and various banking magazines, ensuring the accuracy and credibility of our data collection.
We encountered challenges in obtaining primary data from our manager due to the restrictions imposed by BIDV's headquarters on the disclosure of internal documents and policies, as the BIDV Ha Tay branch operates as a subsidiary After discussions with our supervisor, we reached an agreement to reserve certain data strictly for research 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.
After gathering all pertinent statistics, our team held a productive discussion at a café with our supervisor, resulting in a well-defined outline This clarity enabled every member to comprehend the tasks required for the next phase of the project Ultimately, we revised the timetable to ensure timely project completion.
We achieved the result as expected without any conflicts
From 16th November to 3rd December, 2017
Expected result: Collect a survey result to comment and propose the solution
To effectively study client demand in the apartment market segment, we developed our first questionnaire after discussions with our supervisor Following a two-day training on customer communication skills, we conducted practical studies at Xuan Mai Spark Tower, enhancing our communication abilities However, our initial questionnaire had issues, including unsuitable questions and lengthy interviews To address this, we revised the questionnaire to include multiple-choice answers and set a target of interviewing 5 to 10 people daily within a 15-20 minute timeframe Despite facing challenges such as customer reluctance, inaccurate information, and the burden of university assignments, we considered utilizing online platforms like Facebook for distributing the questionnaire Unfortunately, the 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 analysis of our group's report presents a significant challenge due to the complexity of classifying the collected responses We rely on Topbank.vn, a widely recognized website known for its timely and accurate updates on banking programs, to assist in processing the data By utilizing the information provided by respondents regarding their chosen apartment prices, monthly payment budgets, loan durations, and current bank interest rates, we can effectively assess the validity of the responses.
The customer intends to purchase an apartment priced at a maximum of 2.5 billion VND, with a monthly payment budget of 20 million VND over a loan period of 10 years Currently, BIDV offers an interest rate of 11.5% per annum To secure bank approval for the loan, the customer, an officer aged 25-35, needs to have at least 1 billion VND readily available This indicates that the customer will require additional time to save enough funds for the bank loan Consequently, we did not accept this response, emphasizing the need for a swift completion of the analysis process.
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 time Ultimately, we completed the report, with all members collaborating to address 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, culminating in the successful development of a comprehensive questionnaire This experience proved invaluable for the entire team, providing deeper insights into banking operations Based on the survey findings, we proposed several measures to improve the house loan offerings, which were positively received by the branch.
Throughout the execution of our project, we faced various challenges, yet our team collaborated effectively to accomplish key tasks This project provided us with valuable practical experience in a real 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 understand 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 help!
Thank you for spending time to response.
1 What is your age group ?
4 You want to buy apartment in the price :
5 What is the most concern when you buy an apartment ?
6 Where is your budget come from ?
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 ?
9 How do you know about BIDV house loan services ?
10 The most factor that make you care about BIDV house loan products :