The Housing Development Bank (HDBank) received Asiamoney’s award for best bank in Viet Nam as chosen by corporate clients at a ceremony in Beijing this week.

The magazine said for its Corporate Client Choice Awards it asked corporate treasury officials to rank their banking partners for quality of execution capabilities and quality of relationship in six key business areas – capital markets, cash management, credit, rates, foreign exchange and trade finance.

Other lenders in Viet Nam to win awards included ANZ, HSBC, Citibank and Vietcombank.

HDBank reported solid results in the first half of the year, with its assets increasing by 31.4 per cent year-on-year to VND169.5 trillion (US$7.46 billion).

Deposits were up 34 per cent to VND152.3 trillion and loans outstanding were up 29.8 per cent to VND105.5 trillion.

Bad debts accounted for 1.6 per cent of loans, much lower than the limit stipulated by the State Bank of Viet Nam of 3 per cent. — VNS