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| Leaders of the Government, Ho Chi Minh City People's Committee and the State Bank attended the 30th anniversary of HDBank (January 4, 2020) and awarded the Labor Medal of the President, the Emulation Flag of the Government and the Traditional Flag of Ho Chi Minh City People's Committee. |
In 2011, HDBank decided to change its name from Ho Chi Minh City Housing Development Joint Stock Commercial Bank to Ho Chi Minh City Development Joint Stock Commercial Bank. Its motivation and mission were then enhanced and expanded; the bank's operational efficiency also began to make breakthroughs.
A decade of high and sustainable growth
A decade ago was also a period when the Vietnamese economy and banking activities in particular faced great challenges. However, that was also the time when HDBank - the Bank associated with the pride of the City named after Uncle Ho - began an impressive journey.
After the decision to change its name, with new and strong financial resources and a defined strategic vision, HDBank began to grow. The first concrete step came just one year later: In 2013, HDBank successfully implemented the plan to merge with Dai A Bank - a commercial bank with 20 years of operation and a charter capital of 3,100 billion VND.
Next, the bank was positioned with a mission associated with the development of Ho Chi Minh City, continuing to carry out the acquisition of a 100% foreign-owned finance company - Societe Generale Viet Finance (SGVF). The step of transferring 49% of shares to a Japanese partner and renaming this finance company later not only created surplus resources but also created a new spearhead until now: HD SAISON.
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| HDBank grants funds to buy 150 computers and build 20 charity houses for Ho Chi Minh City in 2022 |
Those successful deals created exponential growth for HDBank, but this was also a "challenge" in terms of growth pressure on a new and high reference base, especially in the context of a challenging economy and market. But the decade of leading growth at this bank was uninterrupted. From the City named after Uncle Ho, HDBank quickly expanded its scale across the country, and quickly became a dynamic hub of Ho Chi Minh City in connecting investment and trade with a series of large institutions and organizations in the world.
During the difficult period, HDBank became a typical example of the leading company in Ho Chi Minh City in spreading the value of effective models and services, from Japan Desk, Korea Desk, Germany Desk to Euro Desk... Thereby, taking on the role of a bank, credit, promoting trade and investment between Vietnamese - Japanese - Korean - German - European enterprises and many other countries, with many large institutions and organizations in the world. HDBank has maintained its role as one of the typical budget contributors and creators of Ho Chi Minh City, with outstanding "qualities": Dynamic, open, breakthrough, taking the lead, transforming to accept challenges to take the lead in the digital transformation period.
This is also one of the reasons to evaluate the great contributions of HDBank to Ho Chi Minh City in particular and the whole country in general during that important period. And from a decade of creating for mutual success and contribution, comrade Nguyen Thien Nhan - at that time a member of the Politburo, Secretary of the Ho Chi Minh City Party Committee, suggested that after 30 years of brilliant growth, HDBank should move towards becoming Happy Bank - Happiness Bank, for the happiness of the people.
In 2020, in conjunction with the pioneering digital transformation strategy implemented quite early, HDBank concretized the above suggested direction, with Happy Digital Bank - Happy Digital Bank.
10 years in the golden decade accompanying Ho Chi Minh City and the whole country, HDBank has grown an average compound annual growth rate of 67%, the highest level in the market; is one of the banks with outstanding events and listings on the HoSE in 2018, quickly entering the 20 largest capitalization stocks on the HOSE. This event opened the door for large-capitalization enterprises to enter the stock market, contributing to improving market liquidity, bringing opportunities to domestic and foreign investors. HDB shares are also included in the VN30 index, Top 30 stocks with the best capitalization and liquidity...
For many years, HDBank has been a prestigious and trusted brand, the bank with the most typical services in Vietnam, the best workplace in Asia, the best green bank in Vietnam, the sustainable brand... honored by international institutions and organizations. HDBank has made great contributions to the state budget, was honored to be awarded the Second Class Labor Medal, the Emulation Flag of the Prime Minister, of the State Bank of Vietnam, and received many Certificates of Merit from the People's Committee of Ho Chi Minh City and other organizations and agencies... for its business activities, social security, and patriotic emulation movements.
City named after Uncle Ho - Motivation and pride
Following a decade of leading growth, at the recent 2023 General Meeting of Shareholders, Mr. Pham Quoc Thanh, General Director of HDBank, said that in 2022, with many economic challenges, HDBank achieved a profit of 105% of the plan, all operational safety indicators were higher than regulations, as well as profitability ratios at the top of the system.
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| In March 2023, HDBank continued to coordinate with the Ho Chi Minh City Association for Supporting Poor Patients to provide funding for 2,000 eye surgeries. |
In particular, HDBank has always been a pioneer in implementing programs to support businesses and stimulate demand, especially in difficult times and economic recovery; for example, in 2022, the bank had a series of effective programs: 30,000 billion VND program with preferential interest rates for business customers; 10,000 billion VND program for individual customers with preferential benefits for borrowers buying and repairing houses. HDBank has always been an active member of the city's traditional banking-enterprise connection program... HDBank's launched products and services such as Muadee - a payment technology application Buy now - pay in installments via QR code, the No. 1 lifestyle aviation point accumulation platform in Vietnam & the world SkyJoy in collaboration with Vietjet, HDBank Petrolimex 4-in-1 super card... bring countless benefits, not only attracting customers to HDBank, but also contributing to stimulating demand and cashless payments for people in Ho Chi Minh City as well as across the country.
That is also the basis for HDBank to be confident that it will successfully carry out the important task assigned by the State Bank: participating in supporting and restructuring banks that have been compulsorily transferred. Along with this task are ambitious business targets, in which the profit target has a growth target of up to 29%. According to General Director Pham Quoc Thanh, these are feasible targets, because HDBank has proactively created the foundations and driving forces for new growth.
First of all, the name Ho Chi Minh City - the City named after Uncle Ho is the pride and driving force in the foundation and development of HDBank over the past 30 years.
Ho Chi Minh City – the economic locomotive of the country with the potential to become the leading financial center in the region is the fulcrum for the growth of HDBank. And conversely, over the past 30 years, especially in more than a decade of leading growth up to now, HDBank has made great contributions to the budget, as well as contributed to the creation and development of Ho Chi Minh City to become increasingly stronger.
Closely attached and developing strongly in the cradle of Ho Chi Minh City, HDBank has just pioneered the localization of online business activities with a website channel in 63 provinces and cities. In 2023, HDBank will continue to expand to serve large markets, urban markets of type 2 and rural areas, said General Director Pham Quoc Thanh and suggested new growth directions, expanding the market and market share.
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| Leading in digital transformation and “greening” of operations, HDBank is completing its new headquarters in Ho Chi Minh City High-Tech Park to connect knowledge and culture, develop a network between HDBank and educational, scientific and technological institutions in the ecosystem surrounding the High-Tech Park. |
Pioneering digital transformation, a series of projects that HDBank proactively took the lead and invested in many years ago have been entering a phase of further effective development since 2023, especially in the value of expanding the digital ecosystem, recording new growth achievements from 2022 and the first quarter of 2023.
By implementing the tasks assigned by the State Bank in participating in restructuring the system with higher credit targets, HDBank will have more conditions and ready resources to expand capital supply in new locations and markets.
With that prospect, HDBank Development Joint Stock Commercial Bank is more confident and proud to be a successful bank associated with the motivation and pride from Ho Chi Minh City, spreading and connecting, expanding and resonating new successes; increasing the motivation to contribute to Ho Chi Minh City, together with the City named after Uncle Ho and localities across the country, joining hands to push the economy back to the trajectory of recovery and sustainable growth.
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