Forbes names HDBank among top financial brands in Viet Nam

Friday, Oct 28, 2022 16:00

Nguyen Dang Thanh, deputy general director of HDBank, receives the award at the Forbes Viet Nam event. Photo HDBank

Forbes Viet Nam has named HDBank among the most valuable financial brands in Viet Nam.

Financial brands appreciated sharply in fiscal year 2021, driven by the banking and securities sectors.

In recent years HDBank has been highly valued in the market, including by foreign financial institutions, for its profitability from business activities and strong digital transformation that enables it to maximise its internal strengths.

Its pre-tax profits for the first nine months topped VND 8 billion, a 31.7 per cent year-on-year rise and accounting for 82 per cent of the full-year’s target.

It has a capital adequacy ratio (CAR) of 15.3 per cent or almost twice the minimum requirement set by the central bank of 8 per cent.

Recently HDBank announced the signing of agreements to develop products and services with a series of units in its ecosystem, giving it a huge opportunity to diversify its sources of income, especially through fees and bancassurance.

HDBank is also one of the pioneers in digital transformation in the Vietnamese financial market.

For instance, the number of active users on its online transaction channels as of September 30 this year was 1.7 times the number a year earlier.

The number of e-banking transactions doubled while the number of users was up by half.

The average number of transactions per account increased by 1.25 times.

Even during the peak of the COVID-19 pandemic, HDBank ensured smooth operations of its systems to effectively serve business activities.

Its digital applications and automation of products and services helped promote non-cash payments and enhanced the convenience of its online transaction channels.

For maintaining a solid business foundation and a high growth rate, having good asset quality and being ranked in the group of banks with the best performance for many years, HDBank was also named among the 40 Most Valuable Brands in Viet Nam in 2018, 50 Best Listed Companies in Viet Nam in 2020 and top eight in a list of the 25 most valuable financial brands in Viet Nam in 2021 by Forbes.

Comments (0)