The Ho Chi Minh City Development Joint Stock Commercial Bank reported first-half 2026 pre-tax profit of VND13.2 trillion, a 31 percent increase from a year earlier, while total assets surpassed VND1 quadrillion for the first time. The results, disclosed August 3, 2026, come as the bank secures record international funding and awaits Vietnam’s formal reclassification to emerging-market status in September.
Key Facts At A Glance
- First-half 2026 pre-tax profit: VND13.2 trillion (approximately US$505 million), up 31% year-on-year
- Total assets: VND1.04 quadrillion (approximately US$39.6 billion), up 12.3% since the start of 2026
- Return on equity: 25.4%; return on assets: 2.17%
- Outstanding loans grew 18.8% to VND698.36 trillion
- Total operating income rose 8.8% to VND22.68 trillion, with non-interest income up 23.1%
- HDBank secured a US$721 million international syndicated social loan, described as the largest ever raised by a Vietnamese institution
- Moody’s upgraded HDBank’s outlook to positive; Fitch assigned a first-time long-term issuer default rating of BB-
- Full-year 2026 pre-tax profit target: over VND30.1 trillion, implying 41% growth from 2025
HDBank (HoSE: HDB) reported first-half 2026 pre-tax profit of VND13.2 trillion, up 31 percent from the same period last year, with total assets climbing 12.3 percent since the start of the year to VND1.04 quadrillion. The result places HDBank among a small group of Vietnamese lenders whose balance sheets now exceed VND1 quadrillion, a threshold that has become an informal marker of scale in the country’s banking sector.
The bank’s second-quarter pre-tax profit alone reached VND7.1 trillion, bringing the six-month total to VND13.2 trillion. Profitability metrics remained among the strongest in the domestic banking industry, with return on equity at 25.4 percent and return on assets at 2.17 percent. Total operating income rose 8.8 percent year-on-year to VND22.68 trillion, with non-interest income increasing 23.1 percent, a contribution HDBank attributed in part to continued digital adoption; more than 94 percent of retail transactions are now conducted through digital channels, helping push the bank’s cost-to-income ratio down to 24.9 percent.
Lending activity expanded faster than the broader balance sheet. Outstanding loans grew 18.8 percent year-on-year to VND698.36 trillion, with credit directed primarily toward manufacturing, small and medium enterprises, agriculture, infrastructure, supply chains and consumer finance. HDBank maintained a Basel II capital adequacy ratio above 14 percent and a loan-to-deposit ratio of 72 percent, while Basel III liquidity metrics, including the liquidity coverage ratio and net stable funding ratio, stayed above 100 percent.
International Funding And Credit Ratings
The bank’s international market activity was a notable feature of the half-year update. HDBank secured a US$721 million international syndicated social loan, which it said was the largest such facility ever raised by a Vietnamese organization. The financing arrived alongside rating actions from two major agencies during the second quarter: Moody’s Ratings upgraded HDBank’s outlook to positive, while Fitch Ratings assigned the bank a first-time long-term foreign- and local-currency issuer default rating of BB-, placing it among the highest-rated commercial banks in the country.
Subsidiary performance also contributed to the group’s results. Consumer finance unit HD SAISON posted pre-tax profit of more than VND804 billion, while HD Securities reported VND1.47 trillion, up 286 percent year-on-year, a figure the bank said placed the brokerage among Vietnam’s ten most profitable securities firms. Vikki Digital Bank, HDBank’s digital banking platform, expanded its user base to more than 3.5 million customers during the period.
Context: Growth Target And Market Upgrade
HDBank’s board set a full-year 2026 pre-tax profit target of more than VND30.1 trillion, a 41 percent increase from 2025, when the bank reported pre-tax profit of VND21.3 trillion, up 27.6 percent year-on-year. Chairman Kim Byoungho, a former chief executive of South Korea’s Hana Bank who has led HDBank’s board since April 2022, told shareholders at the bank’s April annual meeting that the institution was “not chasing short-term numbers” but building “to last for generations.”
The first-half results land as Vietnam’s equity market approaches a structural shift. FTSE Russell confirmed in April that Vietnam will be reclassified from frontier to secondary emerging-market status effective September 21, 2026, a change expected to draw passive fund inflows tied to index tracking and place the country’s largest listed companies, including banks, in closer view of global institutional investors. HDBank’s push into international syndicated funding and its pursuit of improved sovereign-adjacent credit ratings position it among the domestic lenders most directly exposed to that shift in foreign investor attention.