10:39:03 AM | 10/9/2026
Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) continues to be recognized among the Top 50 Listed Companies in Vietnam 2026, as announced at the Forbes Vietnam Business Forum.
Kim Byoungho, Chairman of HDBank’s Board of Directors, speaks at the Forbes Vietnam Business Forum in HCM City, September 17
This marks the 14th year that Forbes Vietnam has published the ranking, which is based on a multi-layered evaluation process covering business performance, profitability, asset quality, governance, and sustainable development prospects. For the banking sector, specific criteria include Return on Equity (ROE), Return on Assets (ROA), Net Interest Margin (NIM), Cost-to-Income Ratio (CIR), credit quality, risk provisioning, growth rate, and market capitalization.
According to Forbes Vietnam, what distinguishes the listed companies is not simply their scale, but their ability to maintain sustainable profitability, deploy capital efficiently, and remain resilient through volatile cycles.
HDBank’s continued presence in the Top 50 reflects its multi-year recognition by Forbes Vietnam among leading listed companies. By the end of June 2026, the bank’s total assets exceeded VND1,000 trillion (US$38.46 billion); pre-tax profit reached VND13,202 billion (US$507.77 million), up 31.1% year-on-year; ROE reached 25.4%, among the highest in the industry; and CIR stood at 24.93%.
New Standards in a New Capital Cycle
Under the theme "Unlocking Capital Flows," the Forbes Vietnam’s Business Forum 2026 took place as Vietnam’s stock market stood on the verge of an important transition.
As part of the forum, Kim Byoungho, Chairman of the Board of Directors of HDBank, participated in a high-level panel discussion focusing on new capital market standards, upgrade prospects, the development of the Vietnam International Financial Center, and the ability to turn capital flows into productivity, market share, and long-term value.
On September 21, 2026, Vietnam’s stock market was officially upgraded from a frontier market to secondary emerging market status under FTSE Russell’s classification. HDB is among 27 Vietnamese stocks included in the FTSE Global All Cap in the first restructuring phase, expanding its access to index-tracking international capital flows. Before the upgrade took effect, HDB was also among the banking stocks attracting strong attention from foreign investors, recording large net buying values in recent sessions.
Expanding Global Capital Connections
The topics at the forum also reflect the direction HDBank is pursuing: consolidating its domestic financial strength and governance while expanding connections with international financial institutions and financial centers.
Recently, HDBank successfully raised a US$721 million social syndicated loan, approximately 60% higher than the initial target. It was the largest international social syndicated loan raised by a Vietnamese financial institution at the time, directing resources to small and medium enterprises, particularly women-owned businesses, while supporting sustainable development goals.
Previously, the bank attracted green and sustainable capital from IFC, ADB, Proparco, DEG, FMO, BII, JICA, SMBC, and other international partners; concurrently, it successfully issued US$100 million in green bonds.
HDBank's financial capability and governance continue to receive recognition from international credit rating agencies. Fitch Ratings assigned the bank a long-term credit rating of BB- for the first time, with a "Stable" outlook and a Standalone Credit Profile of bb-, placing it among the highest-rated Vietnamese banks; Moody's upgraded HDBank's rating outlook from "Stable" to "Positive".
HDBank is currently advancing plans to issue up to US$500 million in international bonds, aiming for a listing on the London Stock Exchange (LSE). The plan is intended not only to diversify long-term funding sources and its investor base, but also to subject the bank to higher standards of governance, transparency, and information disclosure.
By Phuong Le, Vietnam Business Forum
