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Banking & Finance

HDBank receives Labor Order on 30th anniversary

Released at: 09:14, 07/01/2020 BUSINESS SPOTLIGHT

HDBank receives Labor Order on 30th anniversary

Photo: HDBank

HCMC Secretary addresses bank staff at ceremony for 30-year milestone.

by Hung Cao

The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) formally celebrated its 30th anniversary on January 4. The joy tripled as HDBank was also honored with three prestigious awards, including the Labor Order and the Flag of Emulation from the Prime Minister, and the Flag of Tradition from the Ho Chi Minh City People’s Committee.

These honors result from the bank’s remarkable contributions to the business sector, employment, State budget, community, and charitable activities. It was a significant event for HDBank amid the new year celebrations.

The ceremony was graced with the presence of Politburo Member and Permanent Deputy Prime Minister Truong Hoa Binh, Politburo Member and Secretary of the Ho Chi Minh City Party Committee Nguyen Thien Nhan, and  Member of the Central Committee of the Communist Party of Vietnam and Vice State President Ms. Dang Thi Ngoc Thinh, among others.

Over the years, HDBank has received multiple prestigious honors from the government, including two 2nd Class Labor Orders, three 3rd Class Labor Orders, and numerous Flags of Emulation.

Politburo Member and Secretary of the Ho Chi Minh City Party Committee Nguyen Thien Nhan was speaking at the event (Photo: HD Bank)

“On behalf of the city’s 10 million residents, I would like to sincerely congratulate the bank’s staff of over 16,000 employees,” Mr. Nhan said in an address at the ceremony.

“The people of the city hold fond memories of the bank’s establishment as the Housing Development Bank and its contributions to the development of the banking sector and the city for 22 years. In 2012, the bank changed its name to accommodate a more diverse strategy. This move opened up a period of reform with spectacular breakthroughs for HDBank.”

The leader of Vietnam’s largest economic and financial hub continued to elaborate on HDBank’s recent achievements not only in business but also in social welfare. “HDBank has made exceptional breakthroughs,” he said. “It had only around $215 million in charter capital at the time of its name change. Eight years later, it has managed to double its charter capital, quadruple its total assets, increase its after-tax profit eight-fold, and serve 7 million customers. This is a magnificent jump.”

The bank is full of life. On its 30th anniversary, 66 per cent of its staff are under 30 and only 1 per cent are above 50. This is the best period for growth.

HDBank has also focused on social welfare and gifted thousands of health insurance cards, free eye surgeries, and hundreds of charity houses, and conducted other meaningful activities.

Mr. Nhan also offered earnest and humane counsel for HDBank’s further development. He hopes to see it contribute to the happiness of every family in the country. “The people’s happiness is the ultimate goal of national development,” he said. “In the next ten years, HDBank should strengthen its traditions while spearheading the future to facilitate housing for the new 2 million residents of the city and 20 million residents around the country.”

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