HDBank being honoured as the “Leading Partner Bank in Vietnam” in the Asian Development Bank’s Trade and Supply Chain Finance Program, organised by the at an awards ceremony in Singapore earlier this month. — Photo courtesy of HDBank

HCM CITY — The Hồ Chí Minh City Development Bank (HDBank - HDB), a leading commercial bank in Việt Nam, was recently honoured as the “Leading Partner Bank in Vietnam” by the Asian Development Bank at an awards ceremony for the Trade and Supply Chain Finance Program, in Singapore earlier this month.

Since 2016 HDBank and the ADB have built a strong partnership, beginning with the Issuing Bank Agreement. 

Over the years they have signed a number of agreements, such as the Confirming Bank Letter of Agreement in 2019, the Revolving Credit Agreement in 2020, and the Environmental and Social Management System Technical Assistance Letter Agreement in 2021. 

The collaboration reached a significant milestone in 2023 when HDBank became one of the first banks in Việt Nam to sign an agreement with ADB on the Environmental and Social Management System.

HDBank is proud to be one of the ADB’s largest partner banks in Việt Nam, with increased credit facilities for trade finance guarantees and revolving credit. 

As of the beginning of this year, the total credit limit for the guarantee facility and revolving credit facility granted to HDBank had risen to US$145 million from $125 million.

The expansion of this partnership, the increased credit facilities, showcases HDBank’s credibility and role in the market, commitment to sustainable development and responsibility towards the community.

With the effective utilisation of credit facilities and customer support, HDBank looks forward to further increases in credit limits to meet the capital needs of the economy.

Established in 1966, ADB is a regional development bank dedicated to promoting economic and social development and enhancing cooperation among Asian and Pacific countries.

Việt Nam was one of the founding members of ADB. 

Through its various financial instruments and activities, ADB supports its members and partners in achieving sustainable economic and social development in the Asia-Pacific region.

With its strong financial capabilities, compliance with international standards, and close connections with leading global financial institutions to diversify and mobilise capital, HDBank has become a leading bank that actively contributes to the country’s economic development.

It focuses on key growth drivers such as agriculture and rural development, exports, and SMEs.

As the partnership progresses, the two will continue to meet regularly to support HDBank’s business operations and provide solutions for its corporate customers. 

With the effective utilisation of credit facilities and customer support, HDBank anticipates further lending increases to meet the capital needs of the economy.

The Trade and Supply Chain Finance Program awards ceremony, organised annually by the ADB, recognises outstanding contributions by its partner banks to trade finance in the Asia-Pacific region. 

Formerly known as the Trade Finance Program, ADB’s Trade Finance and Supply Chain Finance Program collaborates with over 240 partner banks in the region and globally to provide guarantees and funds for trade financing. — VNS