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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.
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