10:08:11 AM | 8/14/2026
International credit rating agency Fitch Ratings has assigned its inaugural credit ratings to Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank – HoSE: HDB). HDBank received some of the highest ratings assigned to Vietnamese banks, reflecting its strong financial foundation, solid performance, and sustainable operations.
Specifically, HDBank was assigned a long-term issuer default rating of BB- with a stable outlook. Its long-term local- and foreign-currency issuer default ratings were also assigned BB-. HDBank's viability rating was assessed at bb-, the highest Fitch has assigned to any Vietnamese bank.
Based on the equivalent mapping of international credit rating scales, the BB- rating assigned by Fitch is one notch higher than the B1 rating previously assigned by Moody's, reflecting the bank's continued improvement in financial strength and credit quality.
According to Fitch Ratings, the ratings reflect HDBank's strong profitability, stable funding base, and increasingly solid position in Vietnam's banking sector. Fitch also expects Vietnam's favorable economic growth outlook to continue supporting the banking industry's performance in the coming period.
Fitch Ratings said HDBank has maintained strong growth in assets and lending in recent years while steadily expanding its presence in the retail and small and medium-sized enterprise (SME) segments. The agency also said HDBank's profitability remains strong compared with many other banks, supported by a healthy net interest margin and high operating efficiency.
Fitch Ratings expects HDBank's capital strength to continue improving from its current market-leading level through capital increase plans already approved by shareholders. These plans are expected to strengthen the bank's financial buffer against potential risks while providing a solid foundation for medium- and long-term growth.
Receiving a high inaugural rating from Fitch Ratings with a Stable Outlook recognizes HDBank's strong financial foundation and governance in line with leading international standards. It also strengthens the bank's position to expand access to international capital markets, diversify funding sources, and reduce funding costs.
Earlier, in April 2026, Moody's upgraded HDBank's rating outlook from Stable to Positive, citing the bank's financial strength, asset quality, and growth prospects.
At the end of the first quarter of 2026, HDBank maintained its growth momentum, with pre-tax profit reaching VND6.107 trillion, up 14% year on year. Return on equity (ROE) remained high at 24.29%, placing the bank among the industry's leaders. Its Basel II capital adequacy ratio (CAR) reached 16.2%, more than double the regulatory minimum of 8%.
Source: Vietnam Business Forum
