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BIDV traces its origins to April 26, 1957, when the government of the Democratic Republic of Vietnam issued Decision No. 177/TTg to establish the Bank for Construction of Vietnam. The country had just emerged from the war for independence and needed financing for roads, bridges, industry, energy facilities, and the repair of damaged infrastructure. The bank operated under the Ministry of Finance as a state tool for allocating capital investments, not as a commercial lender.

In the 1960s and 1970s, while war continued in the south, the bank financed heavy industry and energy projects in the north. Its work followed state plans, with targeted lending and no private customer base. On June 24, 1981, it was transferred to the State Bank of Vietnam. It was renamed the Bank for Investment and Construction of Vietnam, reflecting a broader role in investment activity.

A major shift came in November 1990, when the institution received its current name, Bank for Investment and Development of Vietnam, or BIDV. The change followed the Doi Moi reforms launched in 1986, as Vietnam moved toward a market economy. While Agribank focused mainly on agriculture, BIDV became a key bank for large industrial and infrastructure projects, including roads, ports, and power plants. In the 1990s and 2000s, it expanded its presence and opened offices in Cambodia and Laos.

On December 28, 2011, BIDV held its IPO, and on January 24, 2014, it listed on the Ho Chi Minh Stock Exchange under the ticker BID. In November 2019, South Korea’s KEB Hana Bank acquired a 15% stake for about $875 million, receiving more than 603 million new shares. The partnership brought technical support in corporate governance, digital banking, retail development, risk management, asset diversification, and staff training, as BIDV prepared to compete with private banks such as Techcombank.