Revealed ‘largest creditor’ of Hoa Phat with nearly 30 trillion VND long-term loan

As of June 30, 2025, Hoa Phat’s (HPG) borrowings amounted to 94 trillion VND, a 13% increase from the beginning of the year, with Vietcombank being the largest creditor, lending over 29.253 trillion VND. Short-term debt accounted for 66.692 trillion VND, mostly in VND at interest rates of 3.75-4.8% per year. In the first half of the year, Hoa Phat recorded revenue of 73.532 trillion VND, primarily from steel production, with after-tax profits reaching 6.587 trillion VND, an increase of 23.6% compared to the same period. Hoa Phat’s total assets are 242.224 trillion VND. Financial costs are 1.950 trillion VND, reduced thanks to interest capitalized for the Dung Quat 2 project.