The Ho Chi Minh City Development Bank (HDBank) was honoured as the Leading Partner Bank in Vietnam by the Asian Development Bank (ADB) at an award ceremony for the Trade and Supply Chain Finance Program in Singapore earlier this month.
This annual event is organised by the ADB to honour its partner banks that have made outstanding contributions to trade finance in the Asia-Pacific region. Formerly known as the Trade Finance Program, ADB’s Trade and Supply Chain Finance Program collaborates with over 240 partner banks to provide guarantees and funds for trade financing.
HDBank and the ADB have built a strong partnership since 2016, beginning with the Issuing Bank Agreement. Since then, the two sides have signed a number of deals, such as the Confirming Bank Letter of Agreement in 2019, the Revolving Credit Agreement in 2020, and the Environmental and Social Management System Technical Assistance Letter Agreement in 2021.
Most notably, in 2023, HDBank became one of the first banks in Vietnam to sign an agreement with the ADB on the Environmental and Social Management System.
Established in 1966, the ADB is a regional development bank that is dedicated to promoting economic and social development and enhancing cooperation among Asian and Pacific countries. Vietnam was one of the founding members of the ADB.
By providing loans, technical assistance, grants, and equity investments to its members and partners, the ADB is committed to promoting social and economic development across the Asia-Pacific region.
At the same time, it maximises the development impact of its assistance by facilitating policy dialogues, providing advisory services, and mobilising financial resources by co-financing operations that tap official, commercial, and export credit sources.
HDBank is proud to be one of the ADB’s partner banks, with the largest credit limit in Vietnam. At the start of this year, the total credit limit for the guarantee and revolving credit facilities granted to HDBank rose from $125 million to $145 million.
The success of this partnership, coupled with the increased credit facilities, showcases HDBank’s credibility, commitment to sustainable development, and sense of responsibility towards the community.
With its strong financial capabilities, compliance with international standards, and close connections with leading global financial institutions, HDBank contributes greatly to the country’s economic development.
It remains steadfast in its sustainable development strategy, focusing on retail and digitalisation with efforts to enhance the customer experience. The bank focuses on key growth drivers such as agriculture and rural development, individual customers, households, small- and medium-sized enterprises, and the value chain.
The award stands as international recognition for HDBank resulting from the rigorous testing and objective evaluation of the ADB. Taking the cooperation deeper, HDBank and the ADB have regular meetings to better support the bank's business activities and develop solutions for its corporate customers.
HDBank expects its credit limit to be increased in the near future, allowing it to meet the growing capital needs of the economy.
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Ho Chi Minh City Development Joint Stock Commercial Bank announced business results for the first half of 2023, with pre-tax profit reaching nearly VND5.5 trillion ($231.6 million), continuing its growth trajectory of the last 10 years.
| ||HDBank receives Digital Innovation award at the ASEAN Business Awards 2023 |
Ho Chi Minh City Development Joint Stock Commercial Bank is the only bank in Vietnam to receive the "Digital Innovation" award by the ASEAN Business Awards - ABA 2023.
| ||HDBank signs agreement with Fulbright University Vietnam |
During the official visit of US President Joe Biden to Vietnam, Ho Chi Minh City Development Commercial Joint-Stock Bank (HDBank) and Fulbright University Vietnam signed a cooperation agreement to provide reciprocal capital worth $20 million to build the school and facilities.