Hdbank

Amid the COVID-19 pandemic, rating agency Moody’s has kept its B1 rating for HDBank, acknowledging that the Vietnamese lender has progressed well to improve the quality of assets and capital competency, and make sustainable profitability. … [Read more...] about HDBank keeps foreign ownership cap at 21.5%

HCM City (VNA) – Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has decided to lock the foreign ownership limit at 21.5 percent of the charter capital. The limit was set at 21.5 percent so that there is more room to sell stakes to strategic investors, HDBank said in a statement on September 7. Under existing regulations, foreign ownership limit at banks is 30 percent of the charter capital. HDBank also plans to offer 160 million USD worth of international convertible bonds to institutional investors in developed markets. The bonds will mature in five years and one day. The bonds can be converted into common shares, are non-guaranteed and go without covered warrants. Income raised from the bond sale will be spent increasing the bank’s tier 2 capital. Tier 2 refers to a bank's supplementary capital and includes undisclosed reserves, debts and hybrid financial products. With the capital raise, HDBank will increase funding for medium-term and long-term … [Read more...] about HDBank keeps foreign ownership cap at 21.5 percent

HDBank has become the only bank in Vietnam to be appraised by HR Asia as one of The Best Places to Work for in Asia for three consecutive years. The international credit rating agency Moody's has recently affirmed HDBank’s Credit Ratings at B1, assessing that the bank has made steady progress in improving asset quality and capitalisation supported by high profitability and sustainability. … [Read more...] about HDBank first-half business results showing growth exceeding expectations

HDBank has reported breakthrough performance in the fourth quarter of 2019 The performance indicators in the fourth quarter of 2019 have shown a strong breakthrough by HDBank. In particular, net interest income reached VND2.888 trillion ($125.57 million), up 33.6 per cent on-year. Net income from the provision of services also increased strongly by 65.2 per cent which contributes to the total operating income (TOI) of VND3.344 trillion ($145.39 million), an increase of 25.8 per cent. Meanwhile, the total operating expenses and provision expenses for credit losses have been controlled steadily. As a result, the pre-tax profit of the fourth quarter of 2019 reached VND1.57 trillion ($68.26 million), an increase of 40.1 per cent compared to the fourth quarter of 2018. … [Read more...] about HDBank reports profit at $218.1 million

The index plummeted within the first 15 minutes of trading, when At-The-Open orders are executed, to as low as 883 points. It remained at that level for most of the trading session, until buying pressure towards the end saw it recover to near its opening level. … [Read more...] about Blue chips the drag as VN-Index edges down