Shareholders okay HDBank’s $500 mln bond issuing plan
Ho Chi Minh City Development Joint Stock Commercial Bank, or HDBank, has secured its shareholders’ approval to issue convertible bonds worth $500 million to international investors, and increase the foreign ownership ratio at the bank to 20% from 18%.

A transaction office of HDBank. Photo courtesy of the bank.
The domestic lender has obtained a “yes” ratio of 79.3% of its voting shares for the plan, according to information from the Ho Chi Minh Stock Exchange (HoSE), where the bank is listed as HDB.
HDBank plans to issue the bonds next year or in 2024, HDBank had earlier said. Proceeds from the issuance would be used to expand its medium- and long-term capital, and serve its growth plans.
It would also help improve the bank’s asset quality indicators and capital adequacy ratio, making it ready to adopt Basel III standards. The Basel III accord increased the minimum Basel III capital requirements for banks worldwide.
HDBank issued convertible bonds worth $325 million in 2020 and 2021 to financial institutions like the World Bank’s investment arm International Finance Corporation, Affinity Equity Partners, DEG, and Leapfrog Investments, the HCMC-headquartered lender said. Bondholders may choose to convert their bonds into common shares of the bank.
HDBank reported a pre-tax profit of VND8,016 billion ($336.7 million) in the first nine months of 2022, up 31.7% year-over-year and fulfilling 82% of the year’s profit plan.
Its total operating income reached more than VND16,000 billion ($672.08 million) in the period, up 32.7%, with net interest income and non-interest income rising by 29% and 80.1%, respectively.
The lender’s current charter capital is VND25,303 billion ($1.06 billion).
Under current Vietnamese rules, the foreign ownership ratio at a Vietnamese bank must not exceed 5% of charter capital for an individual and 15% for an institution. The aggregate foreign ownership is capped at 30%.
- Read More
Vietnam’s VN-Index world’s second-worst performer in Apr amid US tariff turmoil
Vietnam’s benchmark VN-Index dropped by more than 80 points, or 6.2%, in April, ranking as the second-worst performing stock index globally, according to data compiled by IndexQ.
Finance - Sat, May 3, 2025 | 6:48 pm GMT+7
American International School Vietnam chairwoman arrested for disrupting public order
Ho Chi Minh City police's investigative agency on Thursday initiated legal proceedings against and detained chairwoman of American International School Vietnam (AISVN) Nguyen Thi Ut Em for "disturbing public order.”
Companies - Sat, May 3, 2025 | 5:07 pm GMT+7
Nike, Adidas ask President Trump for tariff exemption over business shutdown concerns
Major footwear and apparel brands, including Nike and Adidas which outsource a large portion of their output from Vietnam, are asking U.S. President Donald Trump for a tariff exemption due to concerns over looming cost surges and business shutdown.
Economy - Sat, May 3, 2025 | 1:12 pm GMT+7
Vietnam's Novaland wins lawsuit against Korean giant Taekwang Vina over HCMC project
Vietnam's leading developer Novaland has won a legal dispute with South Korea’s Taekwang Vina regarding a major real estate project in Thu Duc city, Ho Chi Minh City.
Companies - Sat, May 3, 2025 | 11:20 am GMT+7
Vietnamese approves two-year sandbox trial of P2P lending
Vietnam will roll out a two-year sandbox trial of peer-to-peer (P2P) lending, credit scoring, and data sharing via open application programming interfaces, starting July 1, according to a newly-issued government decree.
Banking & Finance - Sat, May 3, 2025 | 8:17 am GMT+7
Hyundai Vietnam joint venture to spend $100 mln on shipbuilding capacity expansion
Hyundai Vietnam Shipbuilding Co., Ltd. (HVS), a joint venture between South Korea and Vietnam, is set to invest an extra $100 million in expanding its shipbuilding capacity in Vietnam.
Industries - Fri, May 2, 2025 | 8:03 pm GMT+7
Vietnam's economic hub HCMC moves closer to establishing int’l financial center
After more than two decades of planning, the vision of establishing an international financial center in Ho Chi Minh City is finally gaining real momentum as the Politburo has officially endorsed the proposal, drawing significant attention from investors.
Southeast Asia - Fri, May 2, 2025 | 6:04 pm GMT+7
Vietnam cuts LNG import tariff to boost clean energy transition
The Vietnamese Government has reduced the preferential import tariff on LNG from 5% to 2% under a decree issued on March 31, which marks a key step in accelerating the country’s shift from fossil fuels to cleaner energy.
Southeast Asia - Fri, May 2, 2025 | 3:26 pm GMT+7
Vietnam races against time to have EC’s 'yellow card' lifted before Sept 15
Vietnam's Ministry of Agriculture and Environment has proposed Prime Minister Pham Minh Chinh issue an action plan to address the European Commission's (EC) “yellow card” warning and prepare for the fifth EC inspection.
Southeast Asia - Fri, May 2, 2025 | 3:21 pm GMT+7
Vietnam's property market sees mixed prospects in Q2: analysts
Vietnam’s real estate market is expected to see positive developments in Q2, with developers launching new projects, but uncertainties from U.S. trade policies may influence market sentiment and consumer confidence, said analysts.
Real Estate - Fri, May 2, 2025 | 3:14 pm GMT+7
Vietnam’s largest container fleet operator records 478% profit growth in Q1 on surging shipping rates
Vietnam’s Hai An Transport and Stevedoring JSC (HAH) reported after-tax profit of nearly VND274 billion ($10.54 million) in Q1/2025, skyrocketing 478% year-on-year, thanks to soaring shipping rates.
Companies - Fri, May 2, 2025 | 3:00 pm GMT+7
Vietnam's leading construction contractor Hoa Binh targets US market amid low domestic profit
Hoa Binh Construction Group, one of Vietnam's top contractors, is negotiating a joint venture agreement with American partners to pave the way for implementing major projects in the U.S.
Companies - Fri, May 2, 2025 | 2:04 pm GMT+7
Northern Vietnam province Hai Duong to have first urban area-golf course complex
Hai Duong province's authorities have granted in-principle approval for the Lien Hong New Urban Area and Golf Course project, with a total investment of VND11 trillion ($423 million).
Real Estate - Fri, May 2, 2025 | 9:59 am GMT+7
Central Vietnam 'awakened' by major resort projects
From once-abandoned coastal lands to emerging resort-urban areas, central Vietnam is witnessing a strong resurgence of investment.
Real Estate - Fri, May 2, 2025 | 9:22 am GMT+7
Vietnam Airlines posts strong profit on international passenger surge, fuel price decline
National flag carrier Vietnam Airlines (HVN) said on Wednesday that it recorded consolidated pre-tax profit of around VND3.6 trillion ($138 million) on consolidated revenue of approximately VND31.1 trillion ($1.2 billion) in Q1/2025.
Companies - Fri, May 2, 2025 | 8:17 am GMT+7
S Korean firms pledge nearly $2 bln in new investments in Indonesia
South Korea's companies will increase their investment in Indonesia by $1.7 billion, Indonesian Economic Minister Airlangga Hartarto said on Monday after attending a meeting between a Korean business association and President Prabowo Subianto.
Southeast Asia - Thu, May 1, 2025 | 10:01 pm GMT+7
- Consulting
-
Rethinking resilience: How typhoon Yagi redefines supply chain strategies in northern Vietnam
-
Remove roadblocks to lure foreign investment into Vietnam: HSBC exec
-
AI can be a game changer for Vietnam tourism
-
In trade and investment, ASEAN and China are better together
-
Investment opportunities in LNG-to-power projects in Vietnam
-
Pepper prices 2024: will the dream of 'black gold' repeat?