10:27 | 05/10/2017 Companies
The Housing Development Bank (HDBank) received Asiamoney’s award for the best bank in Vietnam as chosen by corporate clients at a recent ceremony in Beijing, China.
The magazine said for its Corporate Client Choice Awards, it asked corporate treasury officials to rank their banking partners for quality of execution capabilities and quality of relationship in six key business areas – capital markets, cash management, credit, rates, foreign exchange and trade finance.
Other lenders in Vietnam wining the awards included ANZ, HSBC, Citibank and Vietcombank.
HDBank reported solid results in the first half of this year, with its assets increasing by 31.4 percent year-on-year to 169.5 trillion VND (7.46 billion USD).
Deposits were up 34 percent to 152.3 trillion VND and outstanding loans were up 29.8 percent to 105.5 trillion VND.
Bad debts accounted for 1.6 percent of loans, much lower than the limit stipulated by the State Bank of Vietnam of 3 percent.