Banks review customers potentially affected by US tariffs

The bank has reviewed the portfolio and customers that are likely to be affected by the US tax, but the direct impact is not large as the outstanding debt of customers exporting goods to this market accounts for less than 1.5% of the total outstanding debt.

Sharing with shareholders at the 2025 Annual General Meeting of Shareholders of HDBank held on the morning of April 24, Mr. Pham Quoc Thanh - Member of the Board of Directors, Acting General Director of HDBank - said that Vietnam is promoting negotiations with the US on tariff policy, along with the ability of businesses to adapt, hoping for a good result.

In response to shareholders' concerns that the US's imposition of tariffs on Vietnamese exports to this market could affect HDBank's customers, Mr. Thanh said the bank has reviewed the portfolio and customers that are likely to be affected.

Accordingly, the direct impact is not large when the outstanding debt of HDBank customers exporting goods to the US market accounts for less than 1.5% of the total outstanding debt. At the same time, the bank will have a policy to support affected customers.

In response to shareholders' interest in the restructuring of Vikki Bank (formerly Dong A Bank), which HDBank took over in January this year, Mr. Pham Quoc Thanh said that the comprehensive restructuring process is being carried out, especially in the conversion from a specially controlled bank into a digital bank, Vikki Digital Bank.

“Vikki Bank is undergoing a transformation and there is no bottleneck in the transformation process. We will implement the Vikki Bank strategy in the retail and SME segments, in line with the group’s development strategy,” said Mr. Thanh.

Ms. Nguyen Thi Phuong Thao believes that HDB's stock price does not reflect its real value. Photo: HDBank

Regarding the operations of its subsidiaries, Mr. Pham Quoc Thanh said that HD SAISON is leading the market share in lending to customers to buy motorbikes, with the company's pre-tax profit in 2024 reaching VND 1,214 billion, an increase of 83% compared to 2023.

By 2024, this enterprise will serve more than 10 million customers, including workers and laborers under a preferential credit package of VND 1,500 billion.

The congress also officially announced the development strategy of HD Financial Group, including member units: HDBank, Vikki Digital Bank (new name of Dong A Bank after compulsory transfer), HD SAISON (consumer finance company), HD Securities (Securities), HD Insurance (Insurance), HD Capital (Fund Management), and Dong A Money Transfer (Remittance service).

Thus, HDBank has the richest ecosystem among banks today.

At the congress, HDBank's Permanent Vice President Nguyen Thi Phuong Thao said that HDB's stock price does not reflect the real value of HDBank's growth potential.

According to Ms. Thao, this is also the basis for the stock price to continue to break out in the coming period. In the morning trading session on April 24, HDB shares were traded around 20,850 VND/share.

"We not only want to become a leading bank in terms of scale, but also a bank of first choice for quality, humanity and kindness in every strategic decision," affirmed Ms. Nguyen Thi Phuong Thao.

Source: https://vietnamnet.vn/nha-bang-ra-soat-khach-hang-co-kha-nang-bi-anh-huong-do-my-ap-thue-2394590.html