ANNUAL REPORT 2023
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MESSAGE OF THE CHAIRMAN OF THE BOARD

I firmly believe that HDBank will not only deliver business results as assigned and entrusted by shareholders, customers, business partners and employees but also be proactive in performing its social responsibilities. This, in turn, will ripple out, contributing to the well-being of society and enriching both our shareholders and business partners.

Dear valued shareholders, business partners and customers of HDBank,

On behalf of HDBank’s Board of Directors, I would like to express our sincerest gratitude and appreciation of your continued support to HDBank over the past year.

In 2023, the global scene posed numerous challenges including lower demand, elevated inflation, tighter monetary policies, geopolitical conflicts, and climate change concerns. Amidst this, Vietnam witnessed a notable economic shift with a GDP growth decline to 5.05%, far below the 8% of 2022, accompanied by downturns in industrial production, exports, and public investments. The banking sector also faced challenges: weaker credit demand, lower profitability, and rising asset quality risks, highlighted by a State Bank of Vietnam report citing an NPL ratio surged to 4.95%.

In the face of these challenges, HDBank has demonstrated resilience and agility, seizing opportunities to achieve remarkable results. Total assets surpassed an impressive VND 602 trillion, registering a substantial 44.7% increase. Total deposits surged to over VND 536 trillion, marking an extraordinary 46.5% growth. Total credit balance exceeded VND 353 trillion, up by 31.8%, positioning HDBank at the top of the sector.

Profit before tax reached an outstanding VND 13 trillion, a substantial 26.8% increase, successfully meeting our annual target. Our NPL ratios remain low at 1.5% for the parent bank and 1.8% once consolidated with our subsidiary, and other key prudential ratios continue to signal the health of our institution.

In the stock market, HDBank has solidified its position as one of the top two banks with the most robust share price growth, experiencing an impressive 54.3% increase in its share price. Our market capitalization has risen significantly by 46.4% to over 58.7 trillion VND (equivalent to USD 2.4 billion). Furthermore, HDBank have been selected for inclusion in the VN Diamond Index and Vietnam Sustainability Index (VNSI) by Ho Chi Minh Stock Exchange. HDBank was also honoured with major awards such as Board of the Year Award awarded by the Vietnam Institute of Directors (VIOD) as well as Best Annual Report (among large market capitalization companies) and The Best Companies in Organizing Shareholders’ Meeting awarded by the Vietnam Listed Companies Awards.
Beyond our core businesses, HDBank advanced strategic initiatives, focusing on digital transformation, Basel III governance standards, ESG initiatives, and launching preferential credit packages for customers facing difficulties.
In 2023, thanks to our digital transformation initiatives, we have witnessed robust growth in both number of new digital users and number of digital transactions, increasing by 107% and 88% year-over-year respectively. 94% of retail banking transactions were executed over digital platforms, significantly higher than the 77% rate recorded in 2022. For the first time, the number of new-to-bank customers acquired via digital channels exceeded those from traditional channels.
My heartfelt gratitude goes to State Bank of Vietnam, shareholders, business partners and customers who have always supported and accompanied HDBank. I believe that we could not have successfully completed 2023 business targets without your support given all the global and domestic headwinds. This helps further bolster our confidence that we can realize the goal of becoming the best bank.
2024 presents a complex landscape. The World Bank forecasts a global GDP dip to 2.4%, impacting developing economies like ours with a projected 3.9% growth. Geopolitical tensions and the digital revolution’s rapid pace add further uncertainty. To navigate these challenges, vigilance and adaptability are crucial. Strategic partnerships with customers who have robust ecosystems will be key to enhancing our service and product delivery efficiency. This aligns with our unwavering commitment to sustainable growth and strategic initiatives.
HDBank remains steadfast in its core values: customercentric professionalism, efficiency, honesty, and responsibility. We stand ready to support key government and banking sector programs, including promoting a green economy for net-zero carbon emissions by 2050, financial inclusion, and rural development. We are also well-equipped to implement the credit institution system restructuring entrusted to us by the authorities.
As Chairman of the Board, I firmly believe that HDBank will not only deliver business results as assigned and entrusted by shareholders, customers, business partners and employees but also be proactive in performing its social responsibilities. This, in turn, will ripple out, contributing to the well-being of society and enriching both our shareholders and business partners.
This journey to becoming “the best bank” takes partnership. The HDBank Board deeply values the trust and ongoing support we receive from our esteemed shareholders, investors, and business partners. Your insightful ideas are invaluable, and we invite you to continue shaping our future success together.

CHAIRMAN OF THE BOARD

KIM BYOUNGHO

MESSAGE FROM THE CHIEF EXECUTIVE OFFICER

In 2023, HDBank continued to significantly increase its position and market share, surpassing the total assets milestone of VND 602 trillion, exceeding 116% of the plan. The total credit balance reached over VND 353 trillion, growing by 31.8% compared to 2022.

Dear Customers and Partners, Shareholders, and Investors!

On behalf of the Board of Management of HDBank, I would like to extend a warm greeting and express our sincere gratitude for your valuable companionship throughout the past year, a year marked by many instabilities and challenges in the markets.

2023 marked the completion of 10 years of HDBank’s reformation, a pivotal year for the second half of the 5-year strategic period from 2021 to 2025. Many values and successes have been accumulated by HDBank on this journey to firmly and vigorously overcome challenges, always maintaining a proactive and innovative mindset to seize opportunities most effectively. Along with the precious partnership of our Customers and Partners, Shareholders, and Investors, HDBank has significantly surpassed the targets set by the General Meeting of the Shareholders.

In 2023, HDBank continued to significantly increase its position and market share, surpassing the total assets milestone of VND 602 trillion, exceeding 116% of the plan. The total credit balance reached over VND 353 trillion, growing by 31.8% compared to 2022. The brand value of HDBank associated with trust in the market continued to be enhanced, clearly reflected by a growth of over 46.5% of the bank’s total mobilized funds which hit over VND 536 trillion.

Marking a continuous 10-year journey of sustainable growth, in 2023, HDBank recorded its record-high profit before tax of VND 13,000 billion. Key profitability indicators such as ROE and ROA continued to rank among the market leaders. Prudential ratios were further strengthened within the regulatory thresholds prescribed of the State Bank of Vietnam and in alignment with international standards.

Also in the past year, HDBank became the pioneering commercial bank in Vietnam to comprehensively implement Basel III standards; effectively implemented ESG standards (Environmental, Social, and Governance) highly regarded by reputable domestic and international organizations.
HDB’s market capitalization increased from 40,118 billion VND to 58,719 billion VND, a rise of 46.4%, making it one of the top 5 stocks in the VN30 index with the strongest market capitalization growth in 2023. Enhancing shareholder benefits, HDBank completed its dividend payout plan at a rate of 25% in 2023 and has consistently maintained a high dividend rate for many years.
Green Mindset - Sustainable Growth”, in 2023, HDBank continued to increase its contribution to the State budget, climbing into the Top 30 largest taxpayers nationwide. The bank vigorously promoted and implemented numerous customer support programs and economic recovery initiatives. Alongside these efforts, HDBank invested in developing sectors such as healthcare, education and training, culture, and sports. Social and community activities were also widely implemented across the entire system.
In line with the strategic focus set at the 2023 Annual General Meeting of Shareholders, HDBank has intensified its investment and expanded its network in tier-2 urban markets, agricultural and rural areas. The Bank has been a pioneer in effectively implementing digital transformation initiatives, enhancing its portfolio of products, services, and financial solutions. These efforts have elevated the customer experience, expanded market share, and established a crucial foundation for future sustainable growth objectives.

Dear Customers and Partners, Shareholders, and Investors!

Although there are still many challenges ahead, the Vietnamese economy in 2024 is forecasted to have promising prospects for sustainable recovery and new opportunities. In 2024, HDBank is confident that it will continue to achieve its set targets excellently, specifically:

Target 1

Operational efficiency associated with the 5-year Strategy

  • Implement strategic transformation programs that align with development goals for the period 2024 - 2025;
  • The business plan flexibly adapts to market developments and operating policies of the Government and the State Bank, seizing opportunities for breakthrough development while still ensuring asset quality and operational safety;
  • Promote the mobilization of tier 1 and tier 2 capital according to expected capital needs for business strategies in 2024. Consistently implement the CASA action program to strongly improve the CASA ratio and lower funding costs.
Target 2

Customers and distribution channels

  • Focus on building and completing journeys as a key strategic transformation program.
  • Focus on developing new customers in parallel with awakening prospect sources through activation programs and the SkyJoy loyalty platform; promote supply chain financing and prioritize connecting and linking platform partners with a wide ecosystem using the approach of Partnership Banking and VCF.
  • Diversify sales channels through the new HDBank App and Website following the E-Commerce mindset; develop customers on applications of affiliate partners with large customer bases; Promote and improve the effectiveness of digital marketing programs; Deploy step by step the KIOSK BANK business model associated with brand promotion.
  • Consolidate and optimize the operating network, continue to increase the scale and operational efficiency of branches/transaction offices, ensuring safe, effective, and sustainable operations. Establish the new CMB centers on schedule. Convert and consolidate Priority Banking and over-the-counter customer service.
Target 3

Products and services

  • Combo credit policy to engage customers and sell a complete package of products and services, increasing efficiency;
  • Accelerate comprehensive digital transformation, enhance convenience, experience, and security for customers;
  • Refresh the Banca segment and promote investment banking services for Priority Banking;
  • Integrate products into the application to digitize traditional transactions, bringing products closer to rural agricultural economic regions with convenient and easy-to-use “One Click” automatic features;
  • Develop new features and services based on modern technology platforms to increase customer satisfaction (specifically eCredit, EasyLoan, VCF platform, etc.);
  • Officially launching Vikki digital bank to customers;
  • Promote the implementation of OneCredit and OnePayroll for credit and OneClick (for services) as HDBank brand product lines,
Target 4

Culture and brand

  • Implement cultural journeys. Strengthen the core values of HDBank culture;
  • Strengthen discipline, awareness of compliance and risk control in operations and a culture of creative learning, improving, and specifying the responsibilities of leaders;
  • Build a corporate culture of “Execution” with high commitment and exclusive rewards, emphasizing results;
  • Promote an open, friendly, cohesive, and supportive working environment among all levels, receive sincere and constructive criticism to promote collective intelligence. Ensure that corporate culture comes to life and becomes a typical behavioral culture;
  • Enhance HDBank brand recognition at business units, including Kiosk Banks, becoming a bank with brand recognition and brand health among the top joint stock commercial banks.
Target 5

HDB stocks

  • Enhance market capitalization value and position of HDBank in the stock market.
    • Aim to maintain a resilient market capitalization value, outperforming the average of the banking industry and the VN30 basket, and increasing its ranking compared to 2023, with a target growth of 35%.
    • Remain a component of the VN30, VNDiamond, and VNSI indices and aims to win major awards for listed companies.
  • Investor relations and securities market activities
    • Increase the attraction of domestic investors.
    • Establish direct and effective communication with international investors.
    • Thoroughly prepare for the strategic investor selection plan.
Target 6

Implement sustainable development strategies, sustainable finance, Environment - Society - Governance (ESG) practices

  • Build and manage a bankwide ESG strategy; Report and disclose ESG information;
  • ESG risk management: enhance internal training and control ESG risks in operations and business activities;
  • Continue to upgrade the green credit framework and develop sustainable financial products;
  • Promote and expand cooperation with international organizations, financial institutions, and domestic Government ministries and agencies to promote green credit, sustainable finance, etc. towards the goal of a net zero bank.

With the direction of “Green Mindset - Sustainable Growth”, innovation, pioneer creativity, flexibility, and adaptability will be the key priorities in 2024. HDBank appreciates the trust, support, and companionship of our valued customers and partners, shareholders, and investors on the journey towards new successes.

Sincerely,

CHIEF EXECUTIVE OFFICER

PHAM QUOC THANH

Vision - Mission - Core Values

VISION

To become a leading financial group with a commercial bank at its core which ranks among the best in Vietnam, which offers superior products and customer services through an international network, and which operates efficiently and is trusted by customers.

MISSION

TO OUR CUSTOMERS

HDBank is committed to deliver the best return to its customers through innovative and comprehensive financial solutions, hence meeting their diverse and ever-changing demands with critical insights.

TO OUR EMPLOYEES

HDBank creates a professional, exciting and rewarding work environment where staff can learn, innovate and contribute towards their career development.

TO OUR PARTNERS

HDBank is committed to maximise the interests of its shareholders and partners through robust and sustainable growth, effective governance and rigorous risk management.

CORE VALUES

INTEGRITY AND RESPONSIBILITY

HDBank is a trusting and earnest business collective with bold thoughts, daring initiative and a firm sense of responsibility.

CUSTOMER-ORIENTATION

HDBank places customers at the core of its operation and strives to exceed their expectations.

CONSISTENCY AND FLEXIBILITY

HDBank defines its goals clearly and displays consistency in their pursuit. The Bank demonstrates its proactive and flexible actions in its course towards the defined goals.

EFFICIENCY AND INNOVATION

HDBank continually learns, innovates and perfects itself to achieve operational efficiency and superior customer services.

PROFESSIONALISM AND TEAMWORKING

HDBank oversees a professional operation which encourages friendly sharing and cooperation based on mutual trust and respect.

HDBank’s Leadership Board

Board Of Directors Board Of Supervisors Board Of Management

Mr. Kim Byoungho

Chairman, Independent Board Member

Madam NGUYEN THI PHUONG THAO

Permanent Vice Chairwoman

Mr. LUU DUC KHANH

Vice Chairman

Mr. NGUYEN THANH DO

Vice Chairman

Mr. NGUYEN HUU DANG

Vice Chairman

Mr. LE MANH DUNG

Independent Member

Mr. PHAM QUOC THANH

Board Member, Chief Executive Officer

Mr. DAO DUY TUONG

Chief of the Board of Supervisors

Ms. DUONG THI THU

Member of the Board of Supervisors

Ms. BUI THI KIEU OANH

Member of the Board of Supervisors

Mr. NGUYEN LE HIEU

Member of the Board of Supervisors

Mr. PHAM QUOC THANH

Member of the Board, Chief Executive Officer

Mr. LE THANH TUNG

Deputy Chief Executive Officer

Mr. TRAN HOAI NAM

Deputy Chief Executive Officer

Mr. NGUYEN MINH DUC

Deputy Chief Executive Officer

Mr. LE THANH TRUNG

Deputy Chief Executive Officer

Mr. NGUYEN CANH VINH

Deputy Chief Executive Officer

Mr. TRAN THAI HOA

Deputy Chief Executive Officer

Mr. NGUYEN VAN HAO

Deputy Chief Executive Officer

Mr. NGUYEN DANG THANH

Deputy Chief Executive Officer

Mr. TRAN XUAN HUY

Deputy Chief Executive Officer cum Chief of BOD Office

Mr. PHAM VAN DAU

Chief Financial Officer cum Person in charge of Corporate Governance

Mr. HOANG DUC LONG

Director of Treasury Division

Mr. HUYNH TRUNG MINH

Director of Bancassurance Division

Mr. TRAN HOAI PHUONG

Director of Corporate Banking Division

Mr. TRAN QUOC ANH

Director of Retail Banking Division

Ms. TRAN THU HUONG

Director of Operation Division

Ms. HO DANG HOANG QUYEN

Chief Accountant

ORGANIZATIONAL STRUCTURE OF HDBANK

10 HIGHLIGHTS IN THE YEAR OF 2023

For many consecutive years, HDBank has maintained a high growth rate among the industry leaders, recognized by many domestic and international organizations with major awards.

HDBANK CONTINUES TO ACHIEVE HIGH GROWTH AMONG THE LEADERS IN THE INDUSTRY

With a sustainable development strategy and sound risk management, HDBank has overcome instabilities in 2023 to achieve high growth across all indicators, with nonperforming loans on the lowest side in the industry. As of December 31, 2023, HDBank’s total assets reached over VND 602 trillion, an increase of 44.7% compared to 2022; total capital mobilization reached VND 537 trillion, up 46.5%; Total credit balance reached VND 353 trillion, up 31.8%.

Profit before tax increased by 26.8% to reach VND 13,017 billion - the highest level ever for HDBank. The ROA and ROE indicators reached 2.0% and 24.2% respectively, both higher than the previous year and among the industry leaders. Capital adequacy ratio (CAR, Basel II) reached 12.6%, exceeding the regulatory threshold by 150%.

STRONG EXPANSION OF CUSTOMER BASE, ELEVATING PRODUCT AND SERVICE OFFERINGS

In 2023, HDBank attracted over 1 million new customers, raising the total number of customers using banking and consumer finance services to over 17 million, with the B2B2C (Business To Business To Customer) business model playing a crucial role.

HDBank continuously diversifies and enhances the quality of its products and services to best meet customer needs. A notable highlight is the launch of HDBank Priority, a premium customer service with a high-end experience journey, specialized products, numerous conveniences, and exclusive privileges for high-end customer segments. Shortly after its launch, the service received strong acceptance from customers.

HDBank is one of the pioneering banks to declare the completion of Basel III implementation

IMPROVING RISK MANAGEMENT EFFECTIVENESS IN ACCORDANCE WITH BASEL III INTERNATIONAL STANDARDS

Pioneering the application of international standards, in 2023 HDBank completed the comprehensive upgrade from Basel II to Basel III, ready to implement Basel III successfully from 2024, laying the foundation for HDBank to continue achieving high and sustainable growth amid volatile market conditions.

Additionally, HDBank proactively establishes operational safety indices at levels even more prudential than those required by the State Bank, such as the CAR (under Circular 41) reaching 12.6%; the loan-to-deposit ratio (LDR) at 68.7%; the ratio of short-term funds used for medium and long-term loans at 23.3%. Moreover, several management indices meet Basel III requirements well, such as the CAR (Basel III) expected to exceed 11%, higher than the minimum recommended level; the Liquidity Coverage Ratio (LCR) reaching 132.5%; the Net Stable Funding Ratio (NSFR) reaching 128%.

In 2023, HDBank also completed a comprehensive Operational Risk Management Framework along with tools to identify, measure, monitor, and manage operational risks effectively, proactively detecting early warning signs of risks for timely risk management measures, thus strengthening HDBank’s management foundation.

PARTNERING WITH CUSTOMERS TO DRIVE ECONOMIC GROWTH

Aligned with the directions of the Government and the State Bank of Vietnam, in 2023 HDBank implemented various programs to support businesses and economic recovery. Responding to the calls of the State Bank Governor and the Chairman of the People’s Committee of Ho Chi Minh City to support businesses and people, HDBank launched the “30,000 billion VND Credit Package” with preferential interest rates. By the end of 2023, the total loan volume disbursed under such package reached over 10,500 billion VND, supporting more than 1,600 businesses. The bank also actively implemented the interest rate support program under Government Decree 31/2022/ ND-CP, with a total supported loan volume of nearly VND 6,300 billion in 2023.

Furthermore, to accompany workers and laborers, HD SAISON - a financial company under HDBank - vigorously implemented a preferential credit package for living expenses worth VND 10,000 billion with interest rates only half that of the market. As of December 31, 2023, over half a million workers nationwide had borrowed preferential loans with a total loan outstanding of nearly VND 8,000 billion.

These programs have helped customers timely meet financial needs for living and production activities.

In September 2023, during US President Joe Biden’s visit to Vietnam, HDBank and Fulbright University Vietnam entered into a cooperation agreement involving the provision of USD 20 million in reciprocal capital.

EXPANDING COLLABORATION WITH LEADING GLOBAL FINANCIAL INSTITUTIONS

International cooperation activities continue to be promoted and yield positive results. In May 2023, HDBank and the International Finance Corporation (IFC) signed a cooperation agreement to expand supply chain financing activities, laying the foundation for upgrading and expanding the value chain financing platform. This is one of HDBank’s important projects in the development strategy for the 2021-2025 period, aiming to develop the portfolio of supply chain financing to USD 3 billion.

In 2023, HDBank continued to strengthen connections and cooperation with international financial institutions, contributing to the ever high total trade credit limit for HDBank of approximately USD 3 billion. This was attributed to flourishing collaboration with leading global financial institutions such as IFC, ADB, JP Morgan, CitiBank, Wells Fargo, ICBC, DBS, UOB, MUFG, SMBC, Commerzbank, Shinhan Bank, among others. Additionally, HDBank received positive cooperation and support from IFC, DEG, Proparco, and Leapfrog in upgrading the Environmental and Social Risk Management System (ESMS), bringing HDBank closer to international standards in operations and business.

In September 2023, coinciding with the visit of the U.S President Joe Biden to Vietnam, HDBank and Fulbright University Vietnam signed a cooperation agreement to provide financing equivalent to $20 million to build schools and infrastructure, further enhancing teaching quality, developing scientific research, and promoting innovation.

LEADING MARKET CAPITALIZATION GROWTH, ENHANCING SHAREHOLDER BENEFITS

In 2023, HDB stock prices increased by 54.3%, surpassing the banking industry average growth rate by 2.5 times, VN30 index growth rate by 4.3 times, and VNIndex growth rate by 4.45 times. HDBank’s market capitalization increased by 46.4% to reach 58.719 trillion VND, ranking among the Top 20 stocks with the largest market capitalization in the VN30 basket. HDB was also among the Top 10 stocks most bought by foreign investors. Last year, HDB was the only bank stock eligible for inclusion in the VNDiamond basket selected by the Ho Chi Minh City Stock Exchange (HoSE).

HDBank continues to be included in the VNSI sustainability index, comprising of 20 companies rated highest by HoSE for sustainable activities. The bank also won two important corporate governance awards: Best Listed Company with Excellent Annual Report and Best Listed Company in Organizing Annual General Meeting of Shareholders.

HDBank has a tradition of regularly paying high dividends. In 2023, the bank continued this tradition by distributing dividends in both stock and cash, with a total dividend payout ratio of 25%, which was among the highest in the market.

Mr. Tran Hoai Nam - Deputy Chief Executive Officer of HDBank (left) - received an award on behalf of HDBank as the only retail bank in Asia and the Middle East to be recognized in the “Sustainability Initiative of the Year 2023” category by The Asian Banking and Finance.

EFFECTIVE ESG IMPLEMENTATION

With the strategy of “Sustainable Development - Pioneering Spirit”, in 2023, HDBank promoted the implementation of the ESG strategy, effectively integrating sustainable development factors into its operations: promoting green credit, increasing investment in healthcare and education, expanding environmentally-friendly activities, focusing on community development, enhancing diversity, fairness in labor structure, and advancement opportunities.

For Governance, HDBank adheres to regulations and applies best practices in governance, consistently pursuing goals, and building HDBank according to international standards.

For Environmental, HDBank’s nationwide offices optimally utilize natural resources, complying with green construction standards. The bank also communicates to employees and customers the common awareness and responsibility in protecting the environment, actively attracting and providing green financing.

For Social, HDBank ensures balanced benefits for its stakeholders: shareholders, partners, customers, employees, and the community.

ESG-driven developments have helped HDBank achieve sustainable business results, making profit growth with little impact on the environment, keeping pace with global development trends. These efforts have been highly appreciated by domestic and international organizations.

Last year, HDBank received 11 awards for sustainable development, including: The Asian Banking and Finance (ABF) awarded HDBank - the only retail bank in Asia and the Middle East in the category “Most Sustainable Development Bank in 2023”; Board of the Year award from the Vietnam Institute of Directors (VIOD); “Best Bank for Sustainable Finance” award from The Asset; “Outstanding Bank for Green Credit, SME Companion Bank” award from IDG...

Mr. Nguyen Van Hao - Deputy Chief Executive Officer of HDBank (on the far left) - representing HDBank, received the Innovation Choice Award, awarded by the National Innovation Center

HARVESTING MANY “SWEET FRUITS” FROM DIGITAL TRANSFORMATION

Following the success in the first half of the 2021-2025 digital transformation strategy, HDBank strengthened the implementation of several significant projects in 2023. This strategic direction is closely linked to the capacity for innovation and creativity, thereby developing new products and services on digital platforms, providing superior experiences for customers, and improving the bank’s operational efficiency.

By the end of 2023, the number of new customers acquired through digital channels increased by 58% compared to the same period, surpassing the number of new customers acquired through traditional channels. The number of eBanking accounts increased by 73%, the number of transactions on eBanking increased by 86%, financial transactions on eBanking increased by 132%; the balance of online savings deposits (VND) increased by 449%. The proportion of digital transactions in the total transactions of individual customers increased to 94% from 77% in the same period last year.

HDBank was voted by customers as one of the Top 10 Sustainable Brands for Innovative Innovation at the Better Choice Awards 2023.

HDBank’s leadership received the “Best Companies to Work for in Asia” award by HR Asia

ENHANCING THE PROUD CULTURAL FOUNDATION

HDBank’s 35-year development journey has always been associated with a professional, humane, and distinctive business culture.

HDBank’s culture is, in a nutshell, about 05 core values: customer-orientation; integrity and responsibility; consistency and flexibility; professionalism and teamwork; efficiency and innovation. In 2023, HDBank’s Leadership Board conducted a series of workshops on Building a Culture Towards High Performance” nationwide, thereby establishing the HDBank cultural standards based on feedback on these 05 core values.

By the end of 2023, HDBank had around 17,000 employees, with a significant proportion of employees having engagement of 5 years or more. HDBank has also been the only bank for six consecutive years to be voted by HR Asia - the leading human resources magazine in Asia - as “Best Companies to Work for in Asia”.

LAUNCHING HDBANK RURAL APP, SUPPORTING RURAL FARMERS IN LOCAL ECONOMIC DEVELOPMENT

Agriculture and rural areas are among the key focuses in HDBank’s development strategy targeting potential customers who have limited access to banking and financial services. Additionally, this is part of the bank’s efforts to contribute to the implementation of financial inclusion strategy of the banking industry. HDBank has developed and implemented programs, products, and services tailored to the specific characteristics of localities and customer groups.

In addition to the HDBank website localizing 63 provinces and cities, in 2023, HDBank officially launched the HDBank Rural Service - a specialized and superior financial solution integrated with intelligent technology, with the prominent product being the HDBank Rural App. In 2023, HDBank also collaborated with the Agricultural Trade Promotion Center (Agritrade) and TikTok Vietnam to jointly implement the National “One Commune One Product” (OCOP) program, promoting local agricultural products on digital platforms and e-commerce, guiding people to use cashless payments, creating a strong impression and widereaching impact that the market warmly welcomed.

OVERVIEW
GENERAL INFORMATION
BUSINESS RESULTS IN 2023
REPORT OF THE BOARD OF MANAGEMENT
CORPORATE GOVERNANCE
SUSTAINABLE DEVELOPMENT
CONSOLIDATED FINANCIAL STATEMENTS
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OVERVIEW