HCM CITY — Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has been ranked second in S&P Global Market Intelligence’s 2025 performance rankings of the 50 largest publicly listed banks in Southeast Asia, and holds the top position among the Vietnamese lenders assessed.
HDBank scored 0.87 points, behind only Indonesia’s Bank Central Asia, which scored 1.11. The ranking covered major financial institutions in Singapore, Thailand, Malaysia, Indonesia, the Philippines, and Việt Nam.
S&P Global Market Intelligence used financial data for the 12 months to December 31, 2025, evaluating the banks across seven weighted measures to calculate their overall performance scores.
They included profitability, asset quality, liquidity, capital strength, and cost efficiency.
The approach assessed business performance in relation to each bank’s resources and management capabilities.
The 50 banks were first selected by total assets and then ranked on their operating performance across the financial indicators.
HDBank’s strongest result was its return on average equity of 26.11 per cent, the highest among the 50 banks assessed. This was more than twice the group average of 13 per cent, indicating that it generated substantially higher profits relative to shareholders’ equity than its regional peers.
The bank also performed strongly in cost efficiency, recording a cost-to-income ratio of 27.13 per cent, the lowest among the top 10 banks and well below the average of 43.59 per cent for all banks in the ranking.
These two measures were major contributors to HDBank’s overall score.
 |
| HDBank’s capital efficiency and cost control helped it secure second place in S&P Global Market Intelligence’s 2025 rankings of the 50 largest publicly listed banks in Southeast Asia. — Photo courtesy of the bank |
Its return on average equity contributed 0.32 points, and its cost-to-income ratio contributed 0.26 points to together account for two-thirds of its total score, underlining the role of capital efficiency and cost control in securing the honour.
HDBank also recorded above-average results in other measures.
Its net interest margin stood at 4.85 per cent as against the group average of 3.46 per cent.
Liquid assets accounted for 34.54 per cent of total assets, above the group average of 25.97 per cent, while its capital adequacy ratio was 16.73 per cent.
These indicators show how the bank performed in terms of profitability, liquidity, and capital adequacy.
The results also highlighted the strong showing by Vietnamese banks. Six made the top 10: HDBank, LPBank, Techcombank, TPBank, MB, and Nam A Bank.
The rankings put Việt Nam’s banks among the region’s leading performers on the financial measures assessed. — VNS
