HDBank among 5 fastest growing lenders this year

Tuesday, Apr 23, 2019 12:00

HDBank has been honoured for being among 50 fastest growing enterprises in Viet Nam in 2019 by the Vietnam Report and VietNam Net newspaper. — Photo Courtesy of HDBank

HDBank is among the five fastest growing banks this year and 50 fastest growing enterprises in Viet Nam, according to the Vietnam Report (VNR).

VNR, in collaboration with VietNamNet newspaper, has published the FAST500 Ranking – Top 500 Fastest Growing Enterprises in Viet Nam based on independent research and evaluation of compounded annual growth rate of sales and other parameters like return on assets, return on equity, profits, and corporate credibility in the media.

In the 10 years from 2008 to 2018, HDBank's assets increased 22 times to over VND216 trillion (US$9.3 billion).

It has the highest CAGR in the banking system of 67.1 per cent in the past five years.

Last year, its pre-tax profit was VND4.005 trillion ($172.6 million), an increase of 65.7 per cent from 2017.

Its bad debts continued to be tightly controlled at 1.1 per cent, the lowest level in the industry.

Its stock, which was listed last year on the Ho Chi Minh Stock Exchange, has become one of the 20 largest in terms of market capitalisation and a favourite among foreign investors. Just a year after listing, HDB has been added to the VN30 Index comprising the top 30 listed companies in the market.

Its acquisitions of DaiABank and Societe Generale Viet Finance, a French consumer finance company now renamed HD Saison Finance Co., Ltd., have helped HDBank consolidate its position in the industry.

The efficient mergers also enabled it to quickly expand its profits and network and add millions of customers each year.

The bank has won many local and international awards in recent years, including for Best Cash Management Service and Best Trade Finance Bank in the Asia-Pacific in 2018 and 2019 voted by readers of Euromoney magazine, the “Best Companies to Work for in Asia” award from HR Asia, the Vision Awards Annual Report Competition organised by the League of American Communications Professionals, and the 2018 “Vietnam Outstanding Banking Award” from IDG Vietnam and the Vietnam Banks Association. — VNS

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