The Only Vietnamese Bank to Receive International Payment Awards for Three Consecutive Years from J.P. Morgan Chase Bank

On September 23, 2024, Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank - stock code: HDB) was the sole Vietnamese bank honored with the International Payment Quality Awards (Straight Through Processing - STP) for both MT103 and MT202 (USD and EUR) message types for three consecutive years: 2022, 2023, and 2024, by J.P. Morgan Chase Bank.

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HDBank’s testament to its commitment to elevating financial services to international standards.

The 6 international awards received by HDBank from J.P. Morgan Chase Bank for MT103 and MT202 international payment transactions in 2023 and 2024 are testament to the bank’s commitment to elevating its financial services to international standards. These two transaction types are key pillars of the global payment system, and the awards include:

1. 2023 Euro Clearing Elite Quality Recognition Award

2. 2023 USD Clearing Quality Recognition Award MT202

3. 2023 USD Clearing Elite Quality Recognition Award MT103

4. 2024 Euro Clearing Elite Quality Recognition Award

5. 2024 USD Clearing Elite Quality Recognition Award MT202

6. 2024 USD Clearing Quality Recognition Award MT103

These awards not only reflect HDBank’s superior accuracy and efficiency in handling transactions but also highlight its high level of automation (STP) – a crucial factor in ensuring swift, error-minimized, and optimal customer experiences. With a 99% STP rate for MT103 and MT202 transactions, HDBank has proven its mettle in the global financial arena.

J.P. Morgan’s assessment, based on internal data from 2022 to 2023, led to these prestigious awards. The STP metric is pivotal, indicating the bank’s ability to swiftly process international transactions without manual intervention, reducing error risks and enhancing operational efficiency.

With a global network of over 350 correspondent agents and strategic collaborations with leading international financial institutions like J.P. Morgan Chase, Wells Fargo, Deutsche Bank, Citibank, BHF, and ANZ, HDBank has continuously expanded its international payment network to cater to the market’s evolving needs. Additionally, by adopting advanced financial technology solutions such as eTT, eLC, eFx, Swift Go, and Swift GPI, HDBank facilitates easy, swift, and secure international transactions for its customers.

The consecutive awards and recognition from J.P. Morgan Chase Bank and other esteemed international organizations serve as a strong motivator for HDBank to continue its journey of innovation and improvement. With a steadfast commitment to enhancing service quality and propelling the Vietnamese financial sector onto the world stage, HDBank strives to develop intelligent financial products that meet the evolving needs of its customers while contributing to the sustainable development of the economy.

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Title: HDBank: Foremost Credit Room in the Banking Sector, Projected Profit Growth of Over 28% Annually for the Next 5 Years

In their recently published analyst report, MB Securities (MBS) has assessed HDBank’s business outlook as positive for the second half of 2024 and 2025. This optimistic forecast is attributed to the bank’s exceptional financial performance in the first half of this year, which has set a strong foundation for continued success in the upcoming periods.

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As of now, HDBank has successfully adhered to the directives of the Government and the State Bank of Vietnam, achieving remarkable growth with a credit increase of over 15% since the beginning of the year. The bank’s outstanding loan balance has surpassed VND 390 trillion, while its non-performing loan ratio remains low at just 1.74%. Additionally, the bank has actively and proactively participated in the restructuring of the commercial banking system.

“Supporting Vietnam’s Ambition to Develop a New International Financial Center”

“That was the sentiment shared by Michael Mainelli, the Lord Mayor of London, during his visit to Vietnam. His trip focused on discussing Vietnam’s approach to building an international financial center and sharing UK insights on the same topic.”