Business Daily Media

The Times


.

HDBank to issue $500m worth of convertible bonds and lift its FOL to 20%

HCM CITY, VIETNAM - Media OutReach - 2 December 2022 - The HCM City Development Joint Stock Commercial Bank, or HDBank, is seeking shareholders' approval to issue convertible bonds worth US$500 million to international investors.



HDBank is also seeking approval to increase the foreign ownership limit from 18 per cent to 20 per cent.

In 2020 and 2021 the lender has issued convertible bonds worth $325 million to well-known financial institutions including Affinity Equity Partners, IFC, DEG and Leapfrog Investments, according to announcement on the Bank's website.

Bondholders may choose to convert their bonds into common shares of the Bank.

Proceeds from the issuance will help the bank supplement its medium- and long-term capital, and get ready for high growth plans in line with its strategy.

At the same time the proceeds will help enhance the lender's asset quality indicators, capital adequacy ratio, and get it ready to soon adopt Basel III standards.

HDBank currently has charter capital of VNĐ25.3 trillion (US$1.02 billion).

The maximum foreign ownership limit (FOL) is to be lifted from 18 per cent to 20 per cent. HDB shares receive strong interest from foreign institutional investors who net purchased more than 21 million of HDB shares this year and the FOL of 18 per cent has been reached.

At a recent conference, Chairman Kim Byoungho said HDBank received strong interest from foreign investors as their third quarter business results were the best ever. HDBank forecasts its pretax profit to exceed 10 trillion dong this year, up 25% year-over-year.

Despite the market volatility, HDBank maintains its B1 credit rating, its non-performing loan ratio is among the healthiest in the industry and it tops the industry in profitability and capital adequacy ratio.

Hashtag: #HDBank

The issuer is solely responsible for the content of this announcement.

About HDBank

Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank, HOSE:HDB) was established in 1990, making it among the first commercial banks in Vietnam.

After 32 years of operations, HDBank is now one of the leading retail, SME and consumer banks in Vietnam. It has solid fundamentals, good track record of growth, and is accelerating digital transformation to leverage its highly potential customer ecosystem.

News from Asia

A Defining Milestone for Gene Solutions: SPOT-MAS Multi-Cancer Screening Test Receives U.S. FDA Breakthrough Device Designation

HONG KONG SAR - Media OutReach Newswire - 22 July 2026 - Gene Solutions – a global biotechnology company advancing accessible genomic solutions for cancer detection and precision oncology, announc...

St Francis Methodist School International Shares 2023–2024 WACE Outcomes and Student Journeys

SINGAPORE - Media OutReach Newswire - 22 July 2026 - St Francis Methodist School International (SFMS) has released its latest academic results for students in the Western Australian Certificate o...

SCG calls for a new growth model: Advancing carbon neutrality through competitiveness, energy security and innovation at Nikkei Asia Forum APAC 2026

BANGKOK, THAILAND - Media OutReach Newswire - 22 July 2026 - At the Nikkei Asia Forum APAC 2026, Mr. Thammasak Sethaudom, President and Chief Executive Officer of SCG, shared his vision that the t...

ZenaTech Expands AI Drone Commercialisation as DaaS Contributes 93% of Q1 Revenue

VANCOUVER, CANADA - Media OutReach Newswire - 22 July 2026 - ZenaTech (Nasdaq: ZENA) is combining AI-powered drone technology, enterprise software and professional services through its Drone-as-a-...

Phancy (6682.HK) issues positive profit alert for first half of 2026

HONG KONG SAR - Media OutReach Newswire - 22 July 2026 - Phancy Group Co., Ltd. ("Phancy" or the "Company"; stock code: 6682.HK) today announced a positive profit alert for the six months ended 30...

Taoyuan Welcomes the World: Taiwan’s Gateway Invites Global Travelers

TAOYUAN, TAIWAN - Media OutReach Newswire - 22 July 2026 - Visitors strolling through the bustling streets of major Asian hubs-Tokyo, Busan, Hong Kong, Singapore, and Kuala Lumpur-may have rece...

LOCUS-T Wins Four Honours at A+M Agency of the Year Awards 2026

PETALING JAYA, MALAYSIA - Media OutReach Newswire - 22 July 2026 – LOCUS-T, a leading Malaysian digital marketing agency, has been recognized with four honours at the Advertising + Marketing (A+M...

Vinhomes Utilizes Vietnam's Largest Land Bank to Expand Integrated Urban Developments

HANOI, VIETNAM - Media OutReach Newswire - 22 July 2026 - Vinhomes (ticker: VHM), Vietnam's leading listed real estate developer, is transforming its extensive land bank, exceeding 295 million squ...

Asahi Super Dry Brings Its Iconic Nama Jokki Can to Chinese Mainland with Multi-Hyphenate Celebrity Henry Lau

The market debut of this revolutionary draft style beer in a can marks a new chapter in Asahi’s premiumization journeySHANGHAI, CHINA - Media OutReach Newswire - 22 July 2026 - Japan's number one1...

1win Breaks World Record by Bringing Football to the Top of Bogotá

BOGOTÁ, COLOMBIA - Media OutReach Newswire - 22 July 2026 - 1win, in partnership with Colombian football creators FUTTO, has officially set a world record by organizing the highest football match ...

Selling a Small Business in Australia: Understanding the Capital Gains Tax Concessions

For many Australian business owners, selling a business represents the reward for years—sometimes decades—of hard work. Unlike employees who may bu...

Australian businesses lean into global strategic partnerships (GCCs) for next wave of outsourcing

The Australian corporate landscape is undergoing a fundamental transformation in how it sources talent and innovation. While businesses have traditi...

The New Pressure Gap Crushing Small Businesses

Starting any business and making it prosper is a major undertaking. Part of the challenge is managing the uncertainty, but the financial pressures o...

Click Frenzy returns with a free EOFY sale event for retailers this month

New owners Gabby and Hezi Leibovich bring back Australia’s leading ecommerce sales event with Australia Post as Major Sponsor   Click Frenzy is ...

The 95 Per Cent Failure Rate Is Not An AI Problem

Most Australian SMEs I speak with are already having a go at AI. Some are running formal pilots, others have a team member quietly experimenting o...

New AR tech helping to solve field service skills crisis

AI-enabled augmented reality (AR) smart glasses are emerging as a new practical solution to fill a shortage of field service technicians maintaini...