HO CHI MINH CITY, VIETNAM - Media OutReach - 22 April 2020 - Moody's Investors Service has reaffirmed the B1 credit rating for the Ho Chi Minh City Development JSC Bank (HDBank) amid a challenging market situation due to the impact of the Covid-19 pandemic and social distancing orders from the Government.

In its press release, Moody's said the bank has good profitability, improving capitalisation and good portfolio of liquid assets and is making solid progress in risk management.

In its 2019 financial report released recently, HDBank had total consolidated assets of nearly VND229.48 trillion (US$9.78 billion), equity of VND20.38 trillion (US$867.8 million) and profit before tax of nearly VND5.02 trillion (US$213.8 million), its highest ever.

Return on average assets (ROAA) and return on average equity (ROAE) were 1.8 per cent and 21.6 per cent, respectively.

HDBank's non-performing loan ratio continued to be strictly controlled, at less than 0.98 per cent, placing it among the banks with the lowest NPL ratios in the banking industry, a status it has enjoyed for many years.

Last year the bank received approval from the State Bank of Vietnam to adopt Basel II standards ahead of schedule, and its capital adequacy ratio (CAR) reached 11.2 per cent, much higher than the minimum of 8 per cent prescribed.

In the first three months of this year, despite the COVID-19 pandemic and the big changes it wrought in the domestic and global markets, HDBank achieved very positive business results.

In joining hands to fight the Covid-19 pandemic, HDBank is offering many preferential programmes for its customers. It has set aside VNĐ10 trillion (US$426 million) to lend to producers and corporates who supply goods and services to supermarkets at interest rates starting at 6.5 per cent to stabilise consumer markets, VNĐ5 trillion (US$213 million) for small and medium-sized enterprises and set aside VNĐ3 trillion (US$127.6 million) for cutting fees and interest rates to support enterprises that supply drugs and medical equipment for use during the pandemic.

It is also enhancing technology application and promoting cashless payment solutions.

About HDBank:

Ho Chi Minh City Development JSC Bank (HDBank, HOSE:HDB) was established in 1990,making it among the first commercial banks in Vietnam.

After 30 years ofoperations, HDBank is now one of the leading banks in Vietnam. It hasstrong finances and modern technology, and provides a widerange of financial services to individuals, corporates and investors.