Risks in credit card business activities at bank for investment and development of vietnam jsc bidv

ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - PHẠM NAM SƠN RISKS IN CREDIT CARD BUSINESS ACTIVITIES AT BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM JSC-BIDV RỦI RO TRONG HOẠT ĐỘNG KINH DOANH THẺ TÍN DỤNG TẠI NGÂN HÀNG TMCP ĐẦU TƯ VÀ PHÁT TRIỂN VIỆT NAM – BIDV LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH HÀ NỘI - 2021 ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - PHẠM NAM SƠN RISKS IN CREDIT CARD BUSINESS ACTIVITIES AT BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM JSC-BIDV RỦI RO TRONG HOẠT ĐỘNG KINH DOANH THẺ TÍN DỤNG TẠI NGÂN HÀNG TMCP ĐẦU TƯ VÀ PHÁT TRIỂN VIỆT NAM – BIDV Chuyên ngành: Quản trị kinh doanh Mã số: 8340101.01 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH NGƯỜI HƯỚNG DẪN KHOA HỌC: PGS.TS PHẠM THỊ THANH HÒA HÀ NỘI - 2021 DECLARATION I hereby declare that the data and research results in this thesis are truthful and have never been used All the help in implementing this thesis has been appriciated and the information cited in the thesis has been quoted ACKNOWLEDGEMENT Through theoretical and practical research, the author has completed the master thesis with the topic “RISKS IN CREDIT CARD BUSINESS ACTIVITIES AT BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM JSC - BIDV” First of all, I would like to express my deep gratitude to Assoc., Prof., Ph.D Pham Thi Thanh Hoa who scientifically help me to complete this thesis I would like to thank the teachers of the Ha Noi School Of Business & Management (HSB) for their candid, profound comments and wholehearted help to complete this thesis I would like to send my sincere thanks to the leaders and departments of the Bank for Investment and Development of Vietnam JSC - BIDV for providing information to analyze as well as comments for me to complete the thesis I would like to express my gratitude to my family, colleagues, and close friends who have regularly encouraged and helped me in the most difficult times to pass and complete my master training Thank you very much! TABLE OF CONTENT LIST OF TABLES, CHART, CHART, DRAWINGS i LIST OF FIGURE ii INTRODUCTION .1 CHAPTER THEORETICAL BASIS OF CARD AND RISKS IN CREDIT CARD BUSINESS ACTIVITIES OF COMMERCIAL BANK 1.1 Theoretical basis of card 1.1.1 Card definition and development history 1.1.2 Card classification 1.1.3 Card usage and payment process 1.1.4 The card business segments 11 1.2 Risk in credit card business activities at commercial banks 17 1.3 Card risk management at commercial banks .20 1.4 Factors affecting risks in credit card business activities at commercial banks 23 1.4.1 The subjective factors 23 1.4.2 The objective factors 26 CHAPTER SITUATION OF RISK IN CREDIT CARD BUSINESS ACTIVITIES AT BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM JSC- BIDV .28 2.1 An introduction of Bank for Investment and Development of Vietnam JSC - BIDV 28 2.1.1 The process of formation and development 28 2.1.2 Organizational structure .29 2.1.3 Business performance 30 2.2 The current situation of credit card business at Bank for Investment and Development of Vietnam JSC - BIDV .34 2.2.1 Credit card development history at Bank for Investment and Development of Vietnam .34 2.2.2 Credit card products of Bank for Investment and Development of Vietnam .35 2.3 Situation of risk in credit card business at Bank for Investment and Development of Vietnam JSC - BIDV .42 2.3.1 Risks in credit card business 42 2.3.2 Situation of measures taken by the Bank for Investment and Development of Vietnam JSC - BIDV to limit card business risks .55 2.4 Assessing the current situation of risk management in credit card business activities at the Bank for Investment and Development of Vietnam JSC - BIDV 61 2.4.1 Achievement 61 2.4.2 Restrictions 62 2.4.3 The cause of the restriction 63 CHAPTER RISK LIMITATION SOLUTIONS IN CREDIT CARD BUSINESS ACTIVITIES AT BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM JSC - BIDV 69 3.1 The development orientation of Bank for Investment and Development of Vietnam JSC - BIDV 69 3.1.1 General orientation 69 3.1.2 Development orientation of credit card services 71 3.2 Some solutions to limit risks in credit card business activities at Bank for Investment and Development of Vietnam JSC - BIDV 72 3.2.1 Professionally 72 3.2.2 Engineering and technology 78 3.2.3 Management, personnel organization 79 3.2.4 Some other solutions 80 CONCLUSION AND RECOMMENDATIONS 86 REFERENCES 90 APPENDIX .92 LIST OF TABLES, CHART, CHART, DRAWINGS Table 2.1: Number of credit cards used at BIDV in 2017-2019 .39 Table 2.2 Market share of BIDV’s card services compared to some banks from 2017-2019 40 Table 2.3: Net income of credit cards of BIDV in 2017 - 2019 .41 Table 2.4: Forging credit cards of BIDV issued in 2017 - 2019 .44 Table 2.5 Outstanding credit card balance at BIDV in 2017 - 2019 52 Table 2.6 Bad debt ratio of credit card at BIDV in 2017 - 2019 .53 i LIST OF FIGURE Figure 1.1: Card issuance, usage and payment process 10 Figure 1.2: Card issuance process .12 Figure 1.3: Card payment process .13 Figure 2.1 Number of new credit cards issued by BIDV in 2017-2019 38 Unit: Card 39 Figure 2.2: Ratio of fraudulent payment / Total revenue from BIDV credit card payment in 2017-2019 .46 Figure 2.3 Reasons for losing credit card of customers at BIDV 48 Figure 2.4: The way customers deal with lost of card 49 ii INTRODUCTION The urgency of the topic Along with the renovation of the economy, society and the context of international economic integration, the payment system in Vietnam is gradually developing and perfecting to meet the increasing demand for payment of goods and services not only domestically but also internationally In a developed society, payment cards are one of the most commonly used payment ways and Vietnam is not out of general trend Mr An Vogels, Director of MasterCard in Indochina acknowledged that Vietnam has great potential to develop the card market Currently, the number of MasterCard acceptance points in Vietnam is the highest in the region MasterCard with affiliated banks will launch many different types of cards, besides credit cards, including with domestic debit cards This excitement is explained by the huge profit generated from the card The Government has also approved the scheme to promote non-cash payments in Vietnam Both the Government and commercial banks are making efforts to research and bring to customers features and card products, especially credit cards, which are encouraged to use mainly for paying of goods without using cash The development of the card market in Vietnam contributes positively to changing the perception of the population about using banking services According to estimates of the Bank Card Association, about 40% the Vietnamese population of working age has been using banking services so far This is a breakthrough that card services have brought to the operations of commercial banks, making an important contribution to promoting non-cash payments according to the Government's orientation Growth in the number of cards and the value of credit card transactions, obviously bring profits to the bank, convenience for consumers, on the other hand it also has many potential risks for all stakeholders According to the research by international card organizations, the rate of card fraud risk in Vietnam is often higher than the average of the Asia-Pacific region and the world and this is explained that the tight and strict regulation of credit card operations of some countries such as Thailand, Malaysia, Singapore have led criminals to switch to other markets, including Vietnam, where card services are in explosive development Entering the card market in Vietnam from the beginning, BIDV has made great efforts in the research and development of products and services as well as always put credit card safety first Revenue of BIDV credit card transactions has always achieved high growth In addition to these achievements, BIDV also faces risks in the credit card business process: attacked by international criminal organizations when turning to the Vietnamese market From 2002 up to now, the fraudulent situation in payment and card usage at BIDV is increasing at an ominous speed causing damage to banks, affecting the reputation and business efficiency Therefore, it is imperative that bank pay proper attention to risk management in their card business Therefore, the requirement for risk management in card operations, especially credit cards, has become an urgent content set out for BIDV's Board of Directors However, in the recent period there is no research on this issue Therefore, the selection of the topic “Risks in credit card business activities at the Bank for Investment and Development of Vietnam JSC – BIDV” is quite practical and urgent Related researches In fact, there are many types of risks involved in card business at Joint Stock Commercial Bank, risk management in card operations in general and credit cards in particular is extremely important job of banks Over the years, there have been many authors interested in researching with different research fields and aspects on this content Below are some researches that have been studied on risks in card business activities at joint stock commercial banks: Nguyen Le Nguyen Huong (2017), “Completing the card service possible risks caused by carelessness of cardholders Clip the flyer with the card when giving it to customers so that they can read and understand the practical content - Add a separate section on the Bank's website to card knowledge and specific instructions on how to secure the card Regularly update the card fraud situation for the cardholder to follow - Coordinate with the media to implement credit card payment risk recommendations, including credit cards Through these activities, it will at the same time create customers' confidence in BIDV's card services * Second, increase the use of modern communication channels to propagate warnings to customers using cards - Regarding the form of warning: In addition to the basic and traditional forms through the card usage contract, notification at the bank's transaction counter, modern communication methods such as e-mail, SMS will support actively in today’s era when most Vietnamese people have smartphones In particular, with the establishment of the BIDV Social Media Command Center (SMCC) in early 2015, BIDV has a new approach to customers via Facebook channel, where young customers and regular office workers interest BIDV should take advantage of this channel thoroughly with vivid images to communicate with customers in the most natural and easy way to enter customers' perception - The warning content should be complete and easy to understand, including some minimum content as follows: + When registering and receiving the card: it is recommended that customers read carefully the card usage contract to understand how to use it and be warned about possible risks when using the card; Registering to use SMS service from banks to control transactions, detect early card abuse, and perform fraudulent transactions When receiving the card and PIN from the bank, customers should change their PIN immediately and should not use predictable information such as date of birth, ID number, license plate number, similar natural numbers, consecutive 82 numbers set make a PIN and not write down your PIN and keep it with your card + In the process of using the card: Cardholder is the only person allowed to use the card, not giving the card to anyone, to avoid risk revealing card security information, stolen card, leading to being used to perform fraudulent transactions Customers should also pay attention to registering the correct phone number so that the bank can contact the customer when needing a risk warning At the same time should also proactively call BIDV hotline immediately if there is any problem that requires advice and support in the card usage (including asking BIDV to lock the card when detecting that the card is stolen, lost or suspect being exploited, or provide information about ATM with abnormal behavior, ) When using the card at ATM: pay close attention to the area where the machine is located, the card reader slot, you can cover the keyboard with your hands when entering the PIN to prevent the risk of camera theft When shopping for goods at Merchants : The cardholder should ask the cashier to prioritize using the Chip, not let the cashier hold the card to swipe through other devices other than the POS machine or record card information, carefully check the bill and keep the bill for comparison with credit card statements in order to avoid forgetting or mistaking transactions, leading to inquiries about claims When shopping for goods and services over the Internet, you should not use the mode of remembering passwords to access websites and regularly changing passwords, setting passwords should include uppercase letters, lowercase letters, numbers and symbols, preferably using personal computers to conduct transactions, and only transact at reputable, secure websites, and carefully read the terms and conditions Another note is that the cardholder should log out / exit the session at the end, use a firewall, regularly install and update anti-virus software programs, steal data and restrict to using wifi at public places, cafes to make transactions * Third, establish an independent risk management department at the 83 Branches This is an important job that BIDV needs to as soon as possible because currently, BIDV branches not have an independent risk management department Branches are still passive and depend heavily on the Card Center in monitoring daily transactions of cardholders and merchants Every day, inspectors receive notices about unusual transactions from the Card Center, passively receiving the list will cause delays in handling risks, and may lose money if they not freeze account In addition, officers of the Card Division must be responsible for the risks themselves in their professional work, without a clear assignment, making the risk management ineffective The establishment of a risk management department can be implemented in the following direction: - In terms of personnel: The risk management team in each branch should have people, including supervisor and members Supervisors are qualified and experienced officials in checking credit card claims Therefore, one officer can be transferred from the complaint investigation team As for members, they can organize a new recruitment for two reasons, firstly: currently, the Card Division at the Branches is lacking in staff, if moving staff from another department to there will be a shortage of people, unable to meet the current overloaded work; Second: new staff are often young people, easy to catch up with changing technology, easy to train intensively from the start Having own risk management department, although it can increase the monthly salary payment, it makes risk management more convenient, not only helps clarify professional responsibilities but also helps manage risks in a concentrated manner, avoiding ineffective concurrently - Operation: The separate risk management department will be responsible for acting as a focal point to handle matters related to card operation risks with the Card Center and related entities The officers of the risk management department are responsible for collecting data from specialized departments, analyzing and assessing the risk situation in card operations, making forecasts about risks trends to find preventive measures monthly, quarterly 84 * Improve ethical and professional training for staff In any activity of the economy, no matter how modern technology is but still need human direction, it can be seen that the human role is extremely important, and cannot be completely replaced by machines In card operations, card staff are the ones who regularly communicate directly with customers Therefore, the professional knowledge and ethics of the card staff play an important role in detecting and preventing risks in credit card business Regarding professional expertise, in the coming time, BIDV should organize training in both width and depth Organizing regular training sessions for key staff on the identification and prevention of risks in card operations Since then, the key officers are re-disseminated to the staff in the departments at the Branches to manage risks well in their operations Besides, it is necessary to pay attention to educate morality and raise the sense of responsibility for card staff People are more cautious with fraud from the outside but rarely pay attention to fraud from the inside Fraud carried out by staff is the most sophisticated and difficult to detect, causing great losses to the bank Therefore, it is necessary to improve the internal inspection and control, link the interests of staff with card business so that each employee can raise their sense of responsibility in minimizing the risk of loss 85 CONCLUSION AND RECOMMENDATIONS Conclusion Expanding non-cash payments is an inevitable trend of most countries in the world and Vietnam is not out of that trend Bank cards have become a modern and popular means of payment in the normal life of people in the developed economy Currently, credit cards still have great potential development in the country and in the world The development of credit card services is increasing significance in the new development strategy of commercial banks in general and BIDV in particular With the desire that BIDV’s credit card operations increasingly develop and avoid risks and fraud, the author chose the topic “Risk in credit card business activities at Bank fot Investment and Development of Vietnam JSC – BIDV” for master thesis The thesis has helped readers get an overall and systematic view on risk management activities of credit card services by: - To systematize the basics of risk management activities in credit card services - Analyze and assess the risk management situation in the credit card business of BIDV - On the basis of analyzing and evaluating the current situation, the thesis proposes a number of solutions to limit credit card risk management at BIDV Thereby, the author hopes that these solutions will be applicable and suitable for BIDV in the near future, and also have a reference value for other commercial banks in Vietnam Some recommendations 2.1 For the State The development of card payment methods, ensuring safety and convenience for customers, improving the efficiency of card risk management, in addition to commercial banks' efforts in improving the environment, suing and implementing a market access strategy to develop card services, the State Bank, with a leading role, 86 needs to build a general development strategy of the whole system, identify goals and oriented solutions, especially legal, policy, technical and organizational solutions to link the system Clearly orienting the strategy of developing a unified card technology in the Vietnamese commercial banking system: to avoid overlapping, wasteful and asynchronous investment among commercial banks in card technology as well as technology to control card risks Especially in the process of converting the technology of magnetic cards to chip cards, the State Bank, with the coordinating role at the macro level, needs to set out the intention to invest in technology so that commercial banks can build a development orientation In addition, the State Bank is also responsible for creating a healthy competitive environment among commercial banks, in which it is necessary to develop legal frameworks, regulatory sanctions, and handle violations of banks showing competition It is not healthy for the purpose of profiting to harm the business activities of other banks * Completing the legal framework for card services Vietnam's legal framework for card business is still inadequate Therefore, to meet the requirements of developing this service in the coming time, the State needs to support commercial banks in creating a comprehensive, complete and appropriate legal framework In the Vietnamese criminal code, there are no criminal regulations and penalty frameworks for criminals making and consuming counterfeit cards as well as fraudulent and structured transactions of counterfeit card transactions, so the offenders are now charged with consuming counterfeit money Therefore, the Government should issue legal documents protecting the legitimate interests of card-trading banks, merchants and cardholders, serving as a basis for judicial authorities and punish criminal organizations forging payment cards as well as individuals committing frauds, using cards illegally to appropriate the property of others * Identify and develop card technology development orientation Card technology is a new technology in Vietnam, machines are very modern types 87 that cannot be produced in our country, even spare parts must be imported from foreign countries The present equipment delivery and repair has not been facilitated quickly, forcing banks to increase the cost of purchasing equipment and the provision is very expensive Therefore, the State should consider reducing import duties for machines serving the card technology in Vietnam or at least facilitating the import of these machines 2.2 Recommendations to the State Bank of Vietnam * Continue to improve the legal framework The State Bank of Vietnam should issue regulations and policies to regulate behaviors related to card issuance and payment, especially disputes and risks, to serve as a basis for handling when it occurs.: - Policies to promote non-cash payments such as: developing a variety of non-cash payment instruments with appropriate mechanisms to create favorable conditions for people to use these tools Stricter cash management policy so that people switch to other forms of payment (for example, transactions of great value may be regulated to a certain extent, must be paid via banks, not direct payment; collect cash payment activities, encourage goods / service traders to equip card payment devices ) - Adding a number of issues on international card issuance and payment in the foreign exchange management policy such as: payment limit and credit limit of cards issued by domestic banks, strengthen card management of customer to avoid taking advantage of card to transfer foreign currency Regulations require banks to have complete camera systems on all transaction ATM in order to provide additional supporting documents for card transactions; Regulations on synchronizing ATM skimming equipment system (including software and hardware) This avoids economic waste and ensures the reputation of the banking system - Regulations on setting up and using risk provisions in card business as well as developing preliminary proposals on the basic contents of the provision such as principles, bases and rates of risk provisions … To create a legal system for the 88 banking system; Continue to direct member banks in the implementation of EMV Chip card issuance and payment according to regulations of international card association to minimize risks * Build a personal credit information system Currently, the Credit Information Center (CIC) and the credit information system mainly provide information about corporate customers and individual customers who borrow loans to commercial banks, helping banks evaluate customers to make decisions in investing or lending, but not mentioning the credit information of the customers who use the card Therefore, the credit information system should continue to add information about credit cardholders of commercial banks This will be an important source of information for commercial banks to evaluate, accurately and objectively calculate customer scores, thereby limiting card credit risk The implementation of the above content is also a challenge for the State Bank of Vietnam as the number of individual customers using cards is quite large and often fluctuates In the immediate future, the State Bank needs to build mandatory requirements for card issuers to update cardholder's information into the general information system, on a unified technological foundation It is necessary to set up a separate Credit Information Center for individual using card This model has been very successful in Taiwan, Singapore, Malaysia The center has provided information to banks in evaluating individual customers and supporting banks to develop types of service to serve consumers 89 REFERENCES Bank for Investment and Development of Vietnam JCS - BIDV (2017, 2018, 2019), Annual report Bank for Investment and Development of Vietnam JCS - BIDV (2017, 2018, 2019), Business card report Le Van Te, Truong Thi Hong (1999), Thẻ toán quốc tế ứng dụng thẻ toán quốc tế Việt Nam, Youth Publishing House Nguyen Dang Don, 2007, Hoạt động ngân hàng thương mại, Statistics Publishing House Nguyen Thi Ngoc Mui (2016), Risk management in card business at Joint Stock Commercial Bank for Foreign Trade of Vietnam - Hue Branch, Master thesis of National Academy of Public Administration Nguyen Le Nguyen Huong (2017), “Completing the card service management at Vietnam Joint Stock Commercial Bank for Industry and Trade, Hue Branch”, Master thesis of economic science, Hue College of Economics – Hue University Nguyen Minh Kieu (2007) Nghiệp vụ Ngân hàng đại, Statistics Publishing House Pham Thu Huong (2016), “Risks in credit card business activities at Joint Stock Commercial Bank for Investment and Development of Vietnam”, Master thesis in banking and finance, VNU University of Economics and Business State Bank of Vietnam (2005), Decision 493/2005 / QD¬NHNN dated 22/04/2005 of the Governor of the State Bank of Vietnam on classification of debts, setting up and using of provisions against credit risks in banking activities of credit institutions 10 State Bank of Vietnam (2007), Decision 20/2007 / QD / NHNN dated 5/5/2007 of the Governor of the State Bank of Vietnam on the promulgation 90 of regulations on issuance, use and payment of bank cards 11 Tran Thi Kim Loan, Ngo Thi Anh (2019), Solution to limit risks in card business at BIDV, Tra Vinh province, Finance Magazine December 2, 2019 12 Trang Le Viet Hoa (2014), Credit card risks management at Vietnam Joint Stock Commercial Bank, Kien Giang branch, Master thesis of Nha Trang University 13 Vietnam Bank Card Association (2017, 2018, 2019), Annual report 91 APPENDIX Appendix Management structure diagram of BIDV GENERAL MEETING OF SHAREHOLDERS Supervisory Board Internal Audit Committe BOARD OF DIRECTORS Strategy and organization Committee Risk Management committee Secretary of the Board of Directors Human Resources Committee IT Committee Executive Board ALCO Council BIDV-Keb Hana Bank strategic cooperation Committee Risk Council Capital Management Council Other Councils Wholesale Banking Dept Operation Dept Retail Banking Dept Finance and Accounting Sale and Currency Trading Dept Investment Dept Support Dept Information Technology and Digital Banking Dept Monitoring and Compliance Dept Risk Management Dept ( Source: BIDV 2019 Annual Report) 92 Appendix 2: Table of capital mobilization in BIDV in 2017-2019 Unit: million VND Ratio (%) Targets 2017 2018 2019 2018/ 2019/ 2017 2018 15,61 12,83 Classified by currency Domestic money Foreign currency 809.067.643 935.384.312 1.055.404.158 50.917.530 54.286.843 58.758.466 6,62 8,24 Corroborate 160.200.470 161.859.416 178.383.601 1,04 10,21 With term 694.092.410 820.032.450 923.233.263 18,14 12,58 5.692.293 7.779.289 12.545.760 36,66 61,27 290.188.665 374.510.497 396.612.134 29,06 5,90 469.592.558 572.320.166 618.067.553 21,88 7,99 100.203.950 42.840.492 99.482.937 -57,25 132,22 989.671.155 1.114.162.624 15,08 12,58 converted Classified by term Dedicated capital Classified by customers Economic organizations Business households, individuals Others Total mobilized capital 859.985.173 (Source: BIDV's annual reports) 93 Appendix Figure of capital resources of BIDV in 2017 - 2019 Unit: million VND (Source: BIDV's annual reports) Appendix 4: Table of credit outstanding balance of BIDV in 2017 - 2019 Unit: Billion VND Ratio (%) Targets 2017 2018 2019 826.637 942.043 1.057.924 2018/2017 2019/2018 Classified by currency Domestic money Foreign currency converted 13,96 12,30 68.767 68.950 76.579 0,27 11,06 89.719 105.750 112.089 17,87 5,99 Classified by term Corroborate 94 With term 805.685 905.243 1.022.414 12,36 12,94 101.270 116.669 131.829 15,21 12,99 794.134 894.324 1.002.674 12,62 12,12 895.404 1.010.993 1.134.503 12,91 12,22 Classified by customers Business households, individuals Economic organizations Total credit outstanding balance (Source: BIDV’s annual reports) Appendix 5: Chart of credit outstanding balance of BIDV in 2017 - 2019 Unit: Billion VND (Source: BIDV’s annual reports) 95 Appendix 6: Table of business results of BIDV in 2017-2019 Unit: Billion VND 2018/2017 No Targets Total assets Total operating income Taxes and other payables 2017 2018 2019 Amout 1.202.284 1.312.866 1.489.957 110.582 Ratio (%) 2019/2018 Amout R (%) 9,20 177.091 13,49 39.017 44.256 48.121 5.239 13,43 3.865 8,73 2.850 3.151 3.608 301 10,56 457 14,50 Profit before tax 8.665 9.391 10.732 726 8,38 1.341 14,28 Profit after tax 6.946 7.480 8548 534 7,69 1.068 14,28 (Source: BIDV’s annual reports) 96 ... history at Bank for Investment and Development of Vietnam .34 2.2.2 Credit card products of Bank for Investment and Development of Vietnam .35 2.3 Situation of risk in credit card business. .. increased the use of credit card facilities in payment instead of using cash 2.3 Situation of risk in credit card business at Bank for Investment and Development of Vietnam JSC - BIDV 2.3.1 Risks. .. CARD BUSINESS ACTIVITIES AT BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM JSC - BIDV 69 3.1 The development orientation of Bank for Investment and Development of Vietnam JSC - BIDV