HO CHI MINH CITY, VIETNAM – 6 January 2025 – HDBank (Ho Chi Minh City Development Joint Stock Commercial Bank, stock code: HDB) has made history as the first private Vietnamese bank to issue green bonds, raising VND3 trillion (approximately US$118 million) to support environmental initiatives and promote a greener economy.
This milestone issuance is structured with maturities of two, three, and five years, and adheres to global standards set by the International Capital Market Association (ICMA) and the Loan Market Association (LMA). The offering has drawn swift and strong interest from prominent institutional investors, achieving full subscription in a notably short timeframe.
Funds from the issuance will be directed toward projects aligned with HDBank’s “Sustainable Finance Framework,” which outlines eligibility criteria for investments that support environmental protection and sustainable economic growth.
HDBank had already set a precedent in Viet Nam by establishing its Sustainable Finance Framework prior to the bond issuance. Developed in collaboration with the International Finance Corporation (IFC), a member of the World Bank Group, the framework earned a “very good” rating from Moody’s for its robust alignment with international sustainability standards.
HDBank is recognised for its forward-thinking approach in promoting green finance and ESG governance. It was among the first banks in the country to introduce an environmental and social risk management system to enhance sustainable lending practices.
Its efforts have been acknowledged by global institutions such as IFC, the Asian Development Bank (ADB), DEG, and Proparco for climate-related and gender-equality financing initiatives. HDBank also led the way in setting up Viet Nam’s first ESG Committee within the banking sector, tasked with overseeing its long-term sustainability agenda.
In 2024, HDBank published a report detailing sustainable development progress in Viet Nam and earned a spot in the Vietnam Sustainable Development Index (VNSI) by the Ho Chi Minh City Stock Exchange (HoSE) for the fifth consecutive year.
“The launch of the Sustainable Finance Framework and green bonds demonstrates the bank’s commitment to sustainable development. This initiative promotes green growth and mobilizes long-term capital for projects that reduce CO2 emissions and support the government’s carbon neutrality goal by 2050,” said Phạm Quoc Thanh, CEO of HDBank.
