Fitch Ratings Assigns First-Time Credit Rating to HDBank

Fitch Ratings has granted its inaugural credit ratings to Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank), marking the bank as one of Vietnam's highest-rated institutions. The assigned ratings include a long-term foreign- and local-currency issuer default rating of 'BB-' with a stable outlook, and a Viability Rating of 'bb-', the highest for Vietnamese banks.

This rating is an upgrade from Moody’s previous B1, signifying HDBank's enhanced financial position and credit quality. Fitch's assessment highlights HDBank's strong profitability, stable funding, and expanding market presence in Vietnam, driven by the country’s positive economic prospects.

In Q1 of 2026, HDBank reported a pre-tax profit increase of 14% year-on-year, and maintained a high return on equity of 24.29%. Its Basel II capital adequacy ratio was 16.2%, well above the regulatory minimum. The bank's total assets increased by 5.7% from the end of 2025.