HDBank Honored as ADB Leading Partner Bank in Vietnam

Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) recently garnered the “ADB Leading Partner Bank in Vietnam” award from the Asian Development Bank (ADB) for a second straight time, thus reaffirming its risk management capacity, transparency and effectiveness in trade financing and sustainable development support for Vietnamese businesses.

HDBank receives “ADB Leading Partner Bank in Vietnam” award

Speaking at the award ceremony, Mr. Tran Hoai Nam, Deputy General Director of HDBank, said: “With strong support from the ADB and international partners, HDBank is committed to further advancing its green and sustainable development strategy, particularly in such areas as renewable energy and efficient resource management. HDBank aims to further contribute positively to promoting a green economy in Vietnam, enhancing the competitiveness of businesses, and creating sustainable values for the community.”

In August 2024, ADB raised the trade finance limit for HDBank for guarantees, trade finance and revolving credit facilities from US$145 million to US$200 million. This proves ADB's appreciation for HDBank’s risk management capacity, transparency and effectiveness in cooperation. It also provides a new driving force for the bank to further expand its support to importers, exporters and value chains.

In its strategic partnership with ADB, HDBank has not only focused on trade finance but also actively adopted environmental, social and governance (ESG) initiatives. With the support of ADB and other financial institutions, HDBank has achieved significant milestones in key technical projects that enhance sustainable development capabilities: (i) Green and sustainable credit. HDBank is participating in a technical advisory project to develop an ADB-funded green/sustainable credit portfolio; and (ii) Supporting inclusive economic development for people with disabilities. HDBank is the only bank in Vietnam to participate in the second phase of this ADB-initiated project.

HDBank also successfully completed the ADB Climate Tagging Project in July 2024, which improved the classification of trade finance transactions with positive climate impact.

In 2024, HDBank is the first bank in Vietnam to release a sustainability report in which it is committed to become a net zero emission bank by 2050. As of the end of the second quarter of 2024, HDBank's total assets valued over VND624,443 billion, a 3.7% increase from the beginning of the year. The total loan balance grew by 12.5% to nearly VND386,186 billion, and total deposits saw a 4.3% increase to nearly VND386,573 billion.

In the first half of the year, HDBank achieved VND8,165 billion of pretax profit, a year-on-year growth of 48.9%, while its capital adequacy and performance indicators continued to improve.

By Le Phuong, Vietnam Business Forum