HDBank has announced plans to purchase an up to 30 per cent share of HD Securities JSC (HDS) following a resolution approved at its 2023 shareholders' meeting.
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.
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.
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.
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.
To welcome the visit of President Yoon Suk Yeol and a delegation of over 200 large Korean enterprises to Vietnam, HDBank has officially launched the 'Korea Desk', a department providing specialised banking products, services, and advisory support for Korean corporate customers in Vietnam.
Ho Chi Minh City Development Commercial Joint-Stock Bank (HDBank) has been on a journey of more than 30 years, contributing to the creation and development of Ho Chi Minh City.
HDBank has successfully organised its 2023 annual general shareholders' meeting with a high approval rating from shareholders. The bank has approved a number of targets, plans and proposals, including a target of VND13.2 trillion ($562.67 million) in profit for 2023, a growth of 29 per cent on-year.
At HDBank's annual general shareholders' meeting, the lender affirmed its steadfast commitment to actively engage in the Credit Institutions Restructuring Programme, while expanding its investment portfolio. Meanwhile, the question of whether the bank's foreign ownership cap of 49 per cent will be lifted remains unclear.
HDBank will continue its growth trajectory as its outstanding loans of real estate and corporate bond holdings are among the lowest in the banking industry in 2022.
With a dim outlook for the banking industry, most securities firms forecast that banks will post conservative profit growth in 2023.
The State Bank of Vietnam (SBV) has officially adjusted the credit room for four banks in a bid to support weak credit institutions according to the government's policy.
The prospect for bank mergers and acquisitions in Vietnam is accelerating, notably the purchase of struggling credit institutions for the sake of reorganisation.
With experience in the successful restructuring of credit institutions and its pioneering spirit, HDBank is getting involved in the compulsory transfer of weak credit institutions.
HDBank's profit before tax for the first half of the year exceeded $240 million, fulfilling 54 per cent of its annual budget. Its separate non-performing loan (NPL) ratio was only 0.93 per cent.