Its constant efforts to create innovative and diversified products and services and offer optimal financial solutions have fetched the HCM City Development Joint Stock Commercial Bank (HDBank) the “Vietnam Outstanding Banking Award” for 2018 from IDG Vietnam and the Vietnam Banks Association.

The Việt Nam Outstanding Banking Awards ceremony was held concurrently with the Vietnam Retail Banking Forum in HCM City on November 29.

Given annually since 2012, the awards aim to recognise and honour banks that stand out with excellent performances and make significant contributions to the development of the banking sector and the financial sector in general.

In addition to helping banks look back on their performance, reviewing the quality of their products and services during the year, the award also helps customers find reputable banks.

To HDBank, the Vietnam Outstanding Banking Award once again affirms its position as a leading retail, SME and consumer finance bank.

In recent years HDBank has been outstanding in terms of its vision, strategies and management as shown by its acquisition of DaiABank and SGVF owned by France's Societe Generale Co.

In the five years since its acquisition HD SAISON has grown 10 times to become one of the top three consumer finance companies in Việt Nam, and it boasts high efficiency and the largest network in the country.

After its merger with DaiA Bank, HDBank has continued to enjoy the highest growth rate in the banking sector and provide retail products and services to millions of customers using its eco-system comprising finance-consumer-aviation-retail distribution.

By September 2018 HDBank had 280 transaction points and more than 14,000 financial transaction points nation-wide and had established relationships with more than 400 major financial institutions around the world.

HDBank serves nearly five million individual customers and hundreds of large, medium and small corporate customers.

Speaking at the awards ceremony, Tu Quoc Anh, director of HDBank’s retail business department, said: “In order to provide optimal financial solutions, HDBank always sets goals and commits to bringing the maximum possible benefits to customers and their eco-systems.

“In addition, HDBank has implemented a strong digital conversion strategy since 2017 and is continuing to accelerate this process, upgrading key applications to automate its operations and processes, reduce costs, enhance the customer experience, and improve its competitiveness to become a top retail bank in the region.”

The bank has won a number of awards in recent years, including for Best Cash Management in the Asia-Pacific in 2018 from Euromoney and Best Managed Company in Asia for two consecutive years from Asiamoney, Best Bank in Vietnam in 2017, and Best Cash Management in Vietnam for five consecutive years until 2016.

It also won the Platinum Award at the 2017 Vision Awards Annual Report Competition organised by the League of American Communications Professionals, and made it to the list of Best Companies to Work for in Asia compiled by HR Asia.

As of September 30 the bank had total assets of nearly VND200 trillion and equity of nearly VND16 trillion.

Its pre-tax profit in the first nine months of 2018 rose by 51 per cent year-on-year to VNĐ2.9 trillion.

Its non-performing loans ratio is only 1.39 per cent and bad debts ratio is 1 per cent, the lowest in the industry.

HDBank is expected to exceed the target of VND3.933 trillion in consolidated profit this year while bad debts continue to be tightly controlled.