HDBank was honored by ADB for its outstanding activities in trade finance and sustainable development for Vietnamese businesses.
The unit was recognized by the Asian Development Bank (ADB) as “Leading Partner Bank in Vietnam” through the Trade and Supply Chain Finance Program (TSCFP) on September 3. The award recognizes the capacity and results in promoting trade finance and supporting sustainable development for Vietnamese enterprises.
According to Mr. Tran Hoai Nam, Deputy General Director of HDBank, with the support from ADB and international partners, the bank is committed to continuing to promote its green and sustainable development strategy. Priority areas include renewable energy and efficient resource management. The bank wishes to continue to actively contribute to promoting the green economy in Vietnam, enhancing the competitiveness of businesses and creating sustainable values for the community.
HDBank representative received the award for trade finance and ESG from ADB. Photo: HDBank
In August alone, ADB increased the trade finance limit for HDBank from USD 145 million to USD 200 million for guarantee, trade finance and revolving credit activities. The result shows ADB’s appreciation for risk management capacity, transparency and efficiency in the cooperation process.
Within the framework of strategic cooperation with ADB, HDBank focuses on trade finance and promotes the implementation of environmental, social and governance (ESG) initiatives. The bank also participates in a technical consulting project to develop a green and sustainable credit portfolio.
Customers transacting at HDBank. Photo: HDBank
The Bank is also participating in the second phase of the Disability Inclusion Project, and completing the ADB Climate Tagging project, which will improve the classification of climate-positive trade finance transactions.
ADB’s support portfolio in Vietnam focuses on programs to transform the green economy, harness the private sector, promote social equity, enhance climate resilience, promote sustainable development, improve transport connectivity, and improve the lives of remote areas.
By the end of 2023, the total cumulative disbursement value of loans and grants in both the public and private sectors that ADB has provided to Vietnam is 12.79 billion USD. The fund is financed from ordinary capital resources and concessional ordinary capital resources, the Asian Development Fund… With a commitment to support Vietnam in achieving the Net Zero goal by 2050, ADB is actively promoting financing projects to improve and nurture green banking activities.
By the end of the second quarter of 2024, HDBank’s total assets reached VND624,443 billion, up 3.7% compared to the beginning of the year; total outstanding loans to customers increased by 12.5%, reaching more than VND386,000 billion; total customer deposits increased by 4.3%. After the first 6 months of the year, the bank achieved VND8,165 billion in pre-tax profit, up 48.9% over the same period, while indicators of capital safety and operating efficiency were improved. This year, HDBank is one of the first banks in Vietnam to publish a sustainable development report with a commitment to become a zero net emission bank by 2050.