Housing Development Bank (HDBank) has won Euromoney’s Cash Management in Asia Pacific award for 2018.

The English-language business and finance monthly confers the award after considering more than 25,000 non-finance organisations and 2,000 financial institutions.

This year HDBank was the winner in the overall cash management category for organisations and companies in Asia Pacific.

It also won in other important categories including business functions, financial facilities, personnel, service, and tech provisions.

In the cash management category for institutions in the Asia Pacific using the Vietnamese dong, the bank is ranked on a par with other lenders like HSBC, Vietcombank, Citibank and Shinhan Bank.

Speaking at the awards ceremony, Marcus H Langston, Asian director of Euromoney, said: “Our survey on cash management found that HDBank meets all international standards. This is the reason why the bank is selected as the winner of the 2018 Cash Management award not only in Viet Nam but also in the Asia Pacific.

“We appreciate the bank’s human resources and the services that HDBank has offered to customers.”

The Cash Management award is just one of the many prestigious awards that HDBank has won this year.

HDBank has won a number of awards from Euromoney and Asiamoney (members of Euromoney Institutional Investor PLC) including for Best Managed Company in Asia for two consecutive years, for Best Bank in Viet Nam last year, for Best Cash Management in Viet Nam for five continuous years from 2012 to 2016.

In Viet Nam, HDBank has been honoured with the Labour Medal, second class and third class.

It is notable that the bank has been conferred the Labour Medal third class for a second time, a fitting honour for its outstanding accomplishments during the banking sector’s transformation process.

HDBank has also been named among the companies with the best M&A strategy in the decade from 2009 to 2018.

Other prizes that HDBank has won include for annual report and as the best working place in Asia.

One of the biggest banks in Viet Nam, HDBank has achieved strong growth year after year. Unlike any other bank in Việt Nam, it belongs to a group of companies that has interests in aviation, banking, consumer finance, and retail.

As of the end of the first half of this year HDBank had assets of VND200 trillion. Its owner’s equity was worth VND16.5 trillion.

In the first half of this year HDBank achieved record profits of nearly VND2.1 trillion, a 134 per cent increase year-on-year.

Its bad debts of 0.9 per cent are the lowest in the sector.

HDBank was established over 27 years ago. It now has 223 sales points covering major economic centres.