Fitch Ratings Assigns First Credit Rating to HDBank with Stable Outlook

Fitch Ratings has assigned HDBank its first credit rating of BB- with a stable outlook, highlighting the bank's robust financial foundation and increasing market presence in Vietnam's banking sector. This rating places HDBank above the B1 rating previously given by Moody's, indicating a positive trajectory in its financial capabilities and credit quality.

According to Fitch, the rating reflects HDBank's high profitability, stable funding sources, and its growing position within the Vietnamese banking landscape. The agency noted that HDBank has maintained strong growth in both asset size and credit, particularly in retail and small and medium-sized enterprise (SME) segments. Analysts expect that the bank's capital capacity will continue to improve, supported by approved plans for capital increases, which will enhance its financial buffer against risks and provide a foundation for medium- to long-term growth.

As of March 31, 2026, HDBank reported a pre-tax profit of approximately 6.107 trillion VND, marking a 14% increase year-on-year. The bank's return on equity (ROE) stood at 24.29%, placing it among the leaders in the industry. Furthermore, its capital adequacy ratio (CAR) reached 16.2%, more than double the minimum requirement of 8% under Basel II standards. The total assets of HDBank as of the same date were approximately 984.216 trillion VND, and the total credit outstanding was about 635.085 trillion VND.

Fitch emphasized that the positive growth outlook for Vietnam’s economy is likely to support the banking sector's performance moving forward. The agency's assessment indicates that HDBank's strong financial management and adherence to international standards will facilitate its access to international capital markets, diversify funding sources, and reduce borrowing costs.

Previously, in April 2026, Moody's had upgraded HDBank's rating outlook from stable to positive, citing its financial strength and asset quality. This series of positive ratings reflects the bank's commitment to maintaining high standards of governance and operational efficiency, which are crucial for navigating the competitive banking environment in Vietnam.