ADB honors HDBank as "Leading Partner Bank in Vietnam" for the second time

Receiving the 'Leading Partner Bank in Vietnam' award from ADB for the second consecutive time, HDBank once again affirmed its risk management capacity, transparency and efficiency in trade finance activities, supporting sustainable development for Vietnamese enterprises. Based on its outstanding capacity and results in promoting trade finance and supporting sustainable development for Vietnamese enterprises, Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank - stock code HDB) continues to be recognized as 'The Leading Partner Bank in Vietnam' by the Asian Development Bank (ADB) through the Trade and Supply Chain Finance Program (TSCFP). HDBank has affirmed its outstanding capacity as one of the partner banks upgraded and granted the largest financing limit by ADB in Vietnam. In August 20204, ADB increased the Trade Finance limit for HDBank from USD 145 million to USD 200 million for Guarantees, Trade Finance and Revolving Credit Loans. This result is evidence of ADB's appreciation of HDBank's risk management capacity, transparency and efficiency in the cooperation process - a new driving force for the bank to continue expanding its support for import-export businesses and value chains.

Within the framework of strategic cooperation with ADB, HDBank not only focuses on trade finance but also promotes the implementation of Environmental, Social and Governance (ESG) initiatives. With the support of ADB and other development finance institutions, HDBank has achieved many achievements in important technical projects, enhancing sustainable development capacity:

● Green and sustainable credit: HDBank is participating in a technical consultancy project to develop a green/sustainable credit portfolio with funding from ADB. ● Supporting comprehensive economic development for people with disabilities: HDBank is the only bank in Vietnam to participate in phase 2 of this project implemented by ADB. HDBank also completed the ADB Climate Tagging Project in July 2024, helping to improve the classification of climate-positive trade finance transactions. As of the end of the second quarter of 2024, HDBank's total assets reached VND 624,443 billion, up 3.7% compared to the beginning of the year; total outstanding loans to customers increased sharply by 12.5%, reaching VND 386,186 billion; and total customer deposits achieved a growth rate of 4.3%, up to VND 386,573 billion. In the first half of 2024, HDBank achieved VND 8,165 billion in pre-tax profit, an increase of 48.9% over the same period, while indicators of capital adequacy and operational efficiency were improved.

In 2024, HDBank will be the first bank in Vietnam to publish a sustainability report with a commitment to becoming a zero net emission bank by 2050. Speaking at the award ceremony, Mr. Tran Hoai Nam, Deputy General Director of HDBank, shared: “With strong support from ADB and international partners, HDBank is committed to continuing to promote its green and sustainable development strategy, especially in areas such as renewable energy and efficient resource management. HDBank wishes to continue to actively contribute to promoting the green economy in Vietnam, enhancing business competitiveness and creating sustainable values ​​for the community.”

By the end of 2023, the cumulative disbursement of loans and grants from both the public and private sectors to Vietnam by ADB is US$12.79 billion, financed by the ordinary capital resources and concessional ordinary capital resources, the Asian Development Fund, and other special funds. Committed to supporting Vietnam in achieving Net Zero by 2050, ADB is actively promoting financing projects to improve and nurture green banking. ADB's support portfolio in Vietnam focuses on programs for green economic transformation, harnessing the private sector, promoting social equity, enhancing climate resilience, promoting sustainable development, improving transport connectivity, and reducing poverty in remote areas.

VOV.VN

Source: https://vov.vn/doanh-nghiep/doanh-nghiep-24h/adb-lan-thu-2-vinh-danh-hdbank-la-ngan-hang-doi-tac-hang-dau-tai-viet-nam-post1119187.vov