ING's IGA unit advises second Vietnamese bank

ING wholesale banking's institutional and government advisory group has received its second major mandate in Vietnam in the past two years, announcing that it will support the transformation of state-backed Bank for Investment and Development of Vietnam (BIDV). The mandate follows the 2003 commencement of a two-year advisory assignment for the Bank of Foreign Trade of Vietnam (Vietcombank), which like the BIDV assignment, was a World Bank-sponsored project. According to ING, the BIDV mandate will be similar to its previous work with Vietcombank, but unlike its previous assignment in the country, will only last for eight months. The brunt of the project will focus on BIDV's overall management structure and strategic direction. Also under the microscope will be the state-backed bank's treasury, risk management, asset liability management, internal audit, marketing, information technology and customer relations functions. In addition, ING will also provide technical advice and training programmes to enhance efficiency within the Vietnamese bank.