Sharing in the recently released annual report of 2019, the Standing vice Chair of HCM City Development Joint Stock Commercial Bank (HDBank) Nguyen Thi Phuong Thao forecasted that 2020 would be a very challenging year for the banking industry in the context of the economic impact of the epidemic and the global macroeconomic situation.
Even so, the billionaire was still optimistic that HDBank would always find an opportunity in challenge and the bank would go through the pandemic in the best way and grow even bigger. HDBank set the strategic goal and vision to become a leading bank in retail, small and medium-sized enterprises and consumption, one of the major financial and banking groups in Vietnam and Southeast Asia.
HDBank Board of directors also said they would focus on developing HD SAISON to become a leading company in the field of consumer finance, and at the same time, perfect and promote the effective exploitation of the financial aviation sales ecosystem retail consumption energy telecommunications real estate, aiming to serve more than 40 million individual and business customers in the economy.
More specifically, HDBank intended to maintain a high growth momentum by exploiting the
customer ecosystem with more than 40 million customers of HDBank, HD SAISON, Vietjet Air, Phu Long and other rivals such as Vinamilk and Saigon Coop.
The Bank also aimed to develop a wide range of banking products and services that were highly convenient, tailored to the specific needs of each customer group, targeting each customer to use more products in ‘all in one’ package service, thereby increasing service fees, increasing current account saving account (CASA) rates and increasing sales.
For consumer finance, HDBank management revealed that HD SAISON continued its effective business strategy with key products focusing on consumer loans (POS loan) and existing customer loans that had good payment history. Along with that, pioneering the development of products for buying and selling goods in e-commerce, applying technology to reduce operating costs would also be considered.
Notably, HD SAISON would deploy more credit card products, with the technical and professional support of strategic shareholder Credit Saison, which was the leading credit card issuer in Japan. In addition, the company also focused on products to buy flight tickets with Vietjet Air, and so on.
Regarding capital raising, HDBank expected to complete the merger of another bank that had been approved in principle by the State Bank of Vietnam.
Along with that, the bank would select appropriate foreign investors to issue bonds/convertible bonds to supplement business capital. At the same time, the bank would continue to seek and participate in programmes of providing international concessional loans, low-cost loans from organisations, such as World Bank, ADB, IFC, in order to diversify cheap capital sources, reduce mobilisation fee.
