HDBank changes name to HCM City Development Bank

State Bank of Vietnam (SBV) governor Nguyen Van Binh has recently approved HCM City Housing Development Commercial JS Bank (HDBank) to change its name to HCM City Development Commercial Joint Stock Bank (HDBank).
The central bank’s governor assigned SBV’s HCM City branch director to monitor the implementation of this decision.

HDBank was established in 1990 with an initial chartered capital of three billion dong. Till the end of 2010, the bank finalised increasing its registered capital to three trillion dong.

In 2011, HDBank expects to increase its chartered capital to over five trillion dong, 600 billion dong profit before tax and 14 percent dividend.

The bank’s annual general meeting also agreed a plan to list HDBank share on the stock market.

In 2010, VP Bank was also allowed to change its name from Vietnam Commercial Joint Stock Bank for Private Enterprises (VP Bank) to Vietnam Prosperity Commercial Joint Stock Bank (VP Bank).

Tags: HCM City Development Bank, HDBank, Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Sep 21 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry