HO CHI MINH CITY, VIETNAM�- Media OutReach - 25 September 2020 - The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank - HoSE: HDB) today announced the signing of an�agreement to issue�convertible bonds and enter into a strategic tie-up with DEG -�DEUTSCHE INVESTITIONS- UND ENTWICKLUNGSGESELLSCHAFT MBH�("DEG").

DEG will invest�in convertible bonds issued by HDBank.

The two parties will have a strategic partnership�for�developing products, services and finance�packages�for German businesses in Vietnam and Vietnamese exporters�to Germany and Europe, contributing to boost the trade cooperation between Vietnam and Germany as well as with other European countries.

DEG is a�development finance institution�owned by�German state-owned development bank�KWF�and�is�one�of Europe's15�leading�development finance institutions.

It is currently�present�in 19 countries, managing a portfolio of�around EUR8.6 billion in private�groups�around the world.�In Vietnam, DEG has been active for almost 20 years with a portfolio of EUR220�million.

Jochen Steinbuch, its regional manager in�the Asia Pacific, said:�"Vietnam is seen as a bright spot for foreign investors as the economy is believed to be least affected by Covid-19."

"Thanks to a young population with a expanding middle class, demand for banking and financial services is high."

"HDBank is one of the leading joint stock banks in Vietnam, always maintaining a�good�and sustainable growth rate."

"HDBank's financial health, asset quality and�business�performance are among the best in the industry.�Notably�its�NPL�ratio usually�stands�around 1 per cent�and�ROE�is�over 20 per cent. We�have great�confidence�in the development of the bank in the future."

The�agreement opens a new chapter in�the�long-term co-operation�between German and Vietnamese businesses, especially in the context that the EVFTA took effect recently.

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.