HO CHI MINH CITY, VIETNAM – Media OutReach – 26 November 2020 – For its almost 100 per cent success rate in straight-through processing, the Ho Chi Minh City Development
Joint Stock Commercial Bank (HDBank, HOSE: HDB) has received the MT202 and MT103 STP awards for international payment services from
J.P. Morgan Chase Bank.
This is the third year in a row HDBank has
won the MT202 award, and the second year the Bank has received the MT 103 award.
Both are given by J.P Morgan Chase Bank,
the US’s largest lender in terms of assets and the world’s largest US dollar
clearing agent.
HDBank’s STP rates exceed the benchmarks
set by global credit institutions.
According to JP Morgan
Chase and other large institutions and agents providing clearing services in the
greenback and euro, the STP rate for international electronic payment is
currently 89-90 per cent on average.
With an exceptional STP
rate of 99.94 per cent for MT202 and 99.68 per cent for MT103, HDBank was one
of the few Vietnamese banks to win the top prize.
This underlines the
prestige and quality of HDBank’s international payment services with its modern
technology platform and employees’ professional competence in meeting the
financial transaction needs of customers around the world.
According to JP Morgan
Chase, HDBank is its leading banking partner in Việt Nam in terms of both size
and quality of international payment services.
HDBank’s business performance through the JP Morgan Chase
system has continued to thrive even amid the challenges faced by the global and
Vietnamese economies due to the impacts of Covid-19.
With its relationships
with more than 400 agents who are banking institutions and strategic co-operation
with many leading Vietnamese and international partners, HDBank has extensive
international payment operations and the Bank’s international payment services
quality is recognised also by other leading lenders.
HDBank is also a
pioneer in bringing effective added value to customers around the globe through
investing in and using modern technologies in the bank’s services and products,
especially international payment services, digitising processes, meeting
management requirements according to international standards, and constantly
improving operational efficiency with a commitment to bringing the maximum
benefits to customers.
HDBank became the first
lender in Việt Nam to join the TradeAssets Trade Finance E-marketplace to
connect with and process trade finance transactions on the blockchain
application platform, and Contour, an open trade finance network.
HDBank
also deploys the global payment query service via Swift GPI and is a pioneer in providing international money transfer
query services via Swift GPI in various currencies like USD,
GBP, EUR, CHF, AUD, CAD, JPY, THB, NZD, HKD, and SGD.
At
the same time the Bank has successfully put into operation the Treasury – FIS
Front Arena system to seamlessly meet the requirements involved in handling
business transactions and managing currency trading risks.
In addition to retaining the leading position
in digitisation in the banking sector, HDBank remains on a high growth path in
the third quarter of the year.
Moody’s credit rating agency has maintained a
credit rating of B1 for HDBank.
About HDBank
Ho Chi Minh
City Development JSC Bank (HDBank, HOSE: HDB) was established in 1990, making
it among the first commercial banks in Vietnam.
After 30 years
of operations, HDBank is now one of the leading banks in
Vietnam. It has strong finances and modern
technology, and provides a wide range of financial
services to individuals, corporates and investors.
