HDBank plans wholly owned subsidiary at Vietnam International Financial Centre

HDBank plans wholly owned subsidiary at Vietnam International Financial Centre

The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank, ticker: HDB) has announced plans to establish a wholly owned commercial bank at the Vietnam International Financial Centre (VIFC) in HCM City as part of its strategy to expand its network and strengthen its presence in domestic and international markets.

HDBank is expanding its operations with a plan to establish a wholly owned commercial bank at the Vietnam International Financial Centre in HCM City. — Photo courtesy of HDBank

The bank recently issued an extraordinary notice to collect shareholders’ opinions on the proposal to set up a 100 per cent domestically owned commercial bank at the VIFC, with electronic voting scheduled from March 27 to April 7.

According to the proposal, the new entity will operate under a single-member limited liability company model with independent legal status and accounting, and will be fully owned by HDBank.

Its charter capital will comply with legal requirements on minimum statutory capital, while the headquarters is expected to be located at the Vietnam International Financial Centre.

HDBank said the move is part of its long-term development strategy to expand operations, enhance brand visibility and build a financial and technology ecosystem capable of connecting international financial institutions and investors.

The plan is also aligned with the regulatory direction of the State Bank of Vietnam to ensure safe and stable operations.

The Board of Directors has sought shareholders' approval to authorise it to finalise key details of the new bank, including its name, charter capital, headquarters location and other related matters in compliance with legal regulations and in line with HDBank’s interests.

HDBank currently operates an ecosystem of subsidiaries, including HD Saison and Vikki Digital Bank.

On March 24, the bank approved a plan to increase its ownership in HD Saison from 50 per cent to 75 per cent, with the transaction expected to be completed in 2026. HD Saison, which has charter capital of VNĐ2.35 trillion (US$92 million), is a consumer finance company established through a joint venture between HDBank and Japan’s Credit Saison.

HDBank is scheduled to hold its 2026 annual general meeting of shareholders at 8:30am on April 24 in an online format combined with electronic voting, with the main venue expected to be at Galaxy Innovation Hub in HCM City. 

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