An HDBank’s transaction office in HCM City. HDBank's credit card line for buying petroleum will help businesses easily manage fuel costs most conveniently. — Photo courtesy of the bank

HCM CITY — With a credit limit of up to VNĐ3 billion (US$131,700), HDBank's credit card line for buying petroleum will help businesses easily manage fuel costs most conveniently.

Issued online quickly and conveniently, HDBank credit cards specialising in  petroleum payment for businesses also offer many incentives such as 100 per cent unsecured loan at 12 per cent annual interest, 45 days interest-free credit and unlimited number of supplementary cards.

Meant for paying for fuel at petrol stations, the card will help businesses easily track and control spending as the daily fuel costs will be notified via messaging and transaction statements.

Gasoline payment is an essential daily need for businesses, especially those that use various kinds of vehicles. But petroleum transactions are still mainly paid in cash or on credit and checking the purchases is done manually.

These traditional payment methods pose a lot of inconvenience for vehicle owners and businesses such as difficulty in controlling the actual purchase of petrol, time and effort needed for checking and comparing debts and aggregating records, payment documents and so on.

HDBank's specialised credit card for petroleum purchases will help overcome these limitations and promote non-cash payments in the economy.

This is part of the bank’s digital transformation activities to achieve its strategy of diversifying services, increase utilities and provide specialised products that are appropriate for each customer segment and need.

HDBank's digitisation journey has helped millions of customers carry out financial transactions smoothly, overcome obstacles amid social distancing and at the same time help create the habit of cashless payment among customers.

The bank has optimised financial support services for corporate customers with its comprehensive eCMB digital toolkit, including opening a business account online (eAccount), 24/7 online lending (eCredit), issuing  L/C online (eLC), online international money transfer (eTT), selling foreign currencies online (eFX), online factoring (eFactoring), and eDrawdown – Disbursement of loans online.

Along with developing digital-based products, HDBank has also earmarked a VNĐ5 trillion ($220 million) credit package to provide online and another VNĐ10 trillion package exclusively for SMEs to supplement their working capital.

It also has many other credit packages with low interest rates for retail customers and micro enterprises.

The bank has so far set aside more than VNĐ42 trillion ($1.85 billion) to help individual and corporate customers revive and expand production and trading post-pandemic.

HDBank achieved better-than-expected results and reached 82 per cent of its full-year targets in the first nine months of the year.

As of September 30 its total assets were worth VNĐ346.35 trillion ($15.19 billion), 26.7 per cent up from the same period last year.

Loans outstanding increased by 16.1 per cent year-on-year. The standalone and consolidated NPL ratios were below 1 per cent and at 1.4 per cent respectively, lower than at the same time last year.

Loans outstanding to sectors with a high level of risk and restructured debts were well controlled.

The capital adequacy ratio (CAR) and liquidity were maintained at high levels, with CAR (according to Basel II) increasing sharply to 13 per cent compared to 10.9 per cent on September 30 last year, far above the minimum requirement of 8 per cent.

Operating costs continued to be optimised with the cost to income ratio reduced to 39 per cent from 43.8 per cent a year earlier.

Return on equity was 24 per cent compared to 21.1 per cent in September 2020.

Overcoming the impact of the pandemic, HDBank continued to make steady progress, giving it the confidence to achieve and even go past its 2021 targets. — VNS