Business

HDBank among Forbes’s top financial brands in Vietnam

Forbes Vietnam has unveiled a list of the top 25 valuable financial brands in Vietnam, which are worth a combined 3.95 billion, with HDBank in the top eight with a value of 162 million USD.
HDBank among Forbes’s top financial brands in Vietnam ảnh 1Customers conduct transations at an HDBank’s transaction office. (Photo courtesy by the bank)
HCMCity (VNS/VNA) - Forbes Vietnam has unveiled a listof the top 25 valuable financial brands in Vietnam, which are worth a combined 3.95billion, with HDBank in the top eight with a value of 162 million USD.

Thebanking industry dominates the list with 17 representatives, followed by thesecurities and insurance industries with five and three.

Thelist based on companies’ ability to generate profits.

Financialbrands showed strong growth in fiscal year 2020, driven by the banking andsecurities sectors.

Inrecent years, HDBank has been highly valued by the market, including foreignfinancial institutions, for its profitability from business activities andstrong digital transformation that enables it to maximise its internalstrengths.

Inthe second quarter of this year HDBank's governance efficiency andprofitability improved, with the return on average equity (ROAE) at 25.6 percentand return on average assets (ROAA) at 2.1 percent.

Capitaladequacy and liquidity are at good levels with CAR (based on Basel IIstandards) reaching 13.2 percent.

Thetotal operating income topped 4.25 trillion VND (187.77 million USD) for thesecond quarter and 8.42 trillion VND (371.7 million USD) for the first half, up32.7 percent year-on-year.

Netrevenues from services topped 857 billion VND (37.8 million USD), 2.3 times upfrom the same period last year thanks to strong growth in bancassurance andpayment services, and indicating there is still room for growth.

RecentlyHDBank announced the signing of agreements to develop products and serviceswith a series of units in its ecosystem, giving it a huge opportunity todiversify its income sources, especially from fees and bancassurance.

HDBankis also one of the pioneering banks in embracing digital transformation in theVietnamese financial market.

Evenduring the peak of the COVID-19 pandemic, HDBank ensured smooth operation ofits system to effectively serve business activities.

Itsdigital applications and automation of products and services helped promotenon-cash payments and enhanced the convenience of its online transactionchannels.

Formaintaining a solid business foundation and a high growth rate, having goodasset quality and being ranked in the group of banks with the best performancemany years, HDBank was also named one of the Top 40 Most Valuable Brands in 2018and Top 50 Best Listed Companies in Vietnam in 2020 by Forbes./.
VNA
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