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<a href="https://smartkarma.com/entities/ho-chi-minh-city-development-joint-stock-commercial-bank">HDBank</a> is demonstrating a robust growth trajectory, with significant increases in credit, deposits, and pre-tax profit, driven by its focus on retail, SME, and rural segments.</li>
  <li>The bank is navigating a challenging macroeconomic environment characterized by pressure on Net Interest Margins (NIM) and weakening asset quality, reflecting broader industry trends of rising interest rates and tighter liquidity.</li>
  <li>Future growth is expected to be supported by strategic initiatives including the consolidation of its consumer finance subsidiary (HD Saison), the planned IPO of subsidiaries, and a strengthening capital base through the conversion of bonds.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
HDBank is demonstrating a robust growth trajectory, with significant increases in credit, deposits, and pre-tax profit, driven by its focus on retail, SME, and rural segments.
  The bank is navigating a challenging macroeconomic environment characterized by pressure on Net Interest Margins (NIM) and weakening asset quality, reflecting broader industry trends of rising interest rates and tighter liquidity.
  Future growth is expected to be supported by strategic initiatives including the consolidation of its consumer finance subsidiary (HD Saison), the planned IPO of subsidiaries, and a strengthening capital base through the conversion of bonds.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

External broker reports(aggregated public sources), Rong Viet Securities

Rong Viet Securities

External broker reports(aggregated public sources)

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<ul><li>HDB's Q1/26 results were highlighted by positive credit growth (Parent bank: 7.9%, HD Saison: 9.9%) and customer deposit growth (Parent Bank: 10.8%).</li><li>Credit growth at the Parent bank was led by corporate lending (+10.9% YTD). Retail credit showed positive momentum, growing 4.6% YTD (2025: 3% YTD).</li><li>However, NIM and asset quality weakened, impacted by rising interest rates. Meanwhile, the absence of one-off income (compared to 2025) limited the bank's profit growth. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

HDB's Q1/26 results were highlighted by positive credit growth (Parent bank: 7.9%, HD Saison: 9.9%) and customer deposit growth (Parent Bank: 10.8%).Credit growth at the Parent bank was led by corporate lending (+10.9% YTD). Retail credit showed positive momentum, growing 4.6% YTD (2025: 3% YTD).However, NIM and asset quality weakened, impacted by rising interest rates. Meanwhile, the absence of one-off income (compared to 2025) limited the bank's profit growth. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

Thematic (Sector/Industry)

<ul><li>On Oct 19, the Ho Chi Minh City Stock Exchange (HSX) will officially announce the results of the semi-annual review of the VNDiamond Index, with the revised basket taking effect on Nov 02, 2026.</li><li>Accordingly, Oct 30 will be the final trading day for ETFs tracking the index to complete their portfolio rebalancing.</li><li>In this review, KDH – previously placed on the watchlist for removal, due to its failure to satisfy the minimum foreign holding threshold of 65% (Section 3.7) – may be completely removed from the index, as it continues to fall short of this requirement.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

On Oct 19, the Ho Chi Minh City Stock Exchange (HSX) will officially announce the results of the semi-annual review of the VNDiamond Index, with the revised basket taking effect on Nov 02, 2026.Accordingly, Oct 30 will be the final trading day for ETFs tracking the index to complete their portfolio rebalancing.In this review, KDH – previously placed on the watchlist for removal, due to its failure to satisfy the minimum foreign holding threshold of 65% (Section 3.7) – may be completely removed from the index, as it continues to fall short of this requirement.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>System-wide credit growth accelerated in 2Q26, although growth was highly differentiated across banks.</li><li>By end-1H26, system-wide credit grew 8.37% YTD, accelerating from 3.18% in 1Q26, before reaching nearly 9.1% by mid-August.</li><li>Growth among LBs stood at 9.3% YTD in 1H26, mainly driven by top-tier privately owned banks with stronger credit quotas and balance-sheet capacity, led by VPB (+23.2%), HDB (+21.8%), TCB (+15.2%), and MBB (+13.2%), while major SOCBs such as BID, CTG, VCB and VIB remained in the ~5% range. </li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

System-wide credit growth accelerated in 2Q26, although growth was highly differentiated across banks.By end-1H26, system-wide credit grew 8.37% YTD, accelerating from 3.18% in 1Q26, before reaching nearly 9.1% by mid-August.Growth among LBs stood at 9.3% YTD in 1H26, mainly driven by top-tier privately owned banks with stronger credit quotas and balance-sheet capacity, led by VPB (+23.2%), HDB (+21.8%), TCB (+15.2%), and MBB (+13.2%), while major SOCBs such as BID, CTG, VCB and VIB remained in the ~5% range. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Banking Sector - 2Q26 Update and Outlook - Let Execution Compound

<ul><li>Asset and credit growth recorded robust expansions of approximately 33.5% YoY and 31.0% YoY, respectively.</li><li>Investment securities surged nearly 59% YoY, driven primarily by a 5.4x increase in securities issued by credit institutions, while holdings of corporate bonds also tripled.</li><li>In 4Q25, total loan purchases rose sharply from below VND1tr to nearly VND24tr, accounting for around 4.1% of HDB’s total outstanding credit. </li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Asset and credit growth recorded robust expansions of approximately 33.5% YoY and 31.0% YoY, respectively.Investment securities surged nearly 59% YoY, driven primarily by a 5.4x increase in securities issued by credit institutions, while holdings of corporate bonds also tripled.In 4Q25, total loan purchases rose sharply from below VND1tr to nearly VND24tr, accounting for around 4.1% of HDB’s total outstanding credit. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Ho Chi Minh City Development JSCB (HDB VN) - Staying Resilient

Vietnam

HDBank is a Vietnamese commercial bank offering a wide range of financial and banking services to individuals, businesses, and investors, including deposits, loans, insurance, and digital banking solutions. The bank focuses on retail, SME, and consumer segments and supports MSMEs, farmers, and rural communities. HDBank is headquartered in Ho Chi Minh City, Vietnam, and was founded in 1989.

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HDBank (HDB VN)

Primer: HDBank (HDB VN) - Aug 2026

HDBank is demonstrating a robust growth trajectory, with significant increases in credit, deposits, and pre-tax profit, driven by its focus on...

αSK Primers

HDB - Outperformance Sustained

HDB's Q1/26 results were highlighted by positive credit growth (Parent bank: 7.9%, HD Saison: 9.9%) and customer deposit growth (Parent Bank: 10.8%).

Rong Viet Securities

Forecast – HoSE Indexes review in 4Q26

On Oct 19, the Ho Chi Minh City Stock Exchange (HSX) will officially announce the results of the semi-annual review of the VNDiamond Index, with...

Mirae Asset Securities

Banking Sector - 2Q26 Update and Outlook - Let Execution Compound

System-wide credit growth accelerated in 2Q26, although growth was highly differentiated across banks. By end-1H26, system-wide credit grew 8.37%...

Mirae Asset Securities

Ho Chi Minh City Development JSCB (HDB VN) - Staying Resilient

Investment securities surged nearly 59% YoY, driven primarily by a 5.4x increase in securities issued by credit institutions, while holdings of...

Mirae Asset Securities

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