Vietnam-based HCM City
Housing Development Commercial Bank (HD Bank) is to change its name
to HD Commercial Bank, as part of its drive to become a modern
retail bank and one of the country’s five largest
lenders.
HD Bank kicked off the
first phase of a three year restructuring project in 2009, designed
to enhance its IT systems and product range.
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For the current fiscal year, HD Bank has
set growth targets of total assets reaching VND25trn ($1.28bn);
deposits of VND21trn and total lending of VND10.5trn.
Formed in 1990, HD Bank has a branch
network of 65 units, which it is aiming to grow to 90 outlets this
year.
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