Hashtag
Men's Weekly

Implementing a sustainable development strategy, HDBank reports a profit of VND 8,165 trillion, with NPL ratio at only 1.59%

HO CHI MINH CITY, VIETNAM - Media OutReach Newswire - 1 August 2024 - Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank - HOSE: HDB) has announced its financial report for the second quarter of 2024, with profit before tax for the first half of the year reaching VND 8,16 trillion (appx.

US$324.47 million), an increase of 48.9% over the same period driven by HDBank's enhanced operational efficiency and implementation of digital transformation initiatives.

HDBank reports a profit of VND 8,165 trillion

According to the financial statements, as of June 30, 2024, HDBank recorded a credit growth of 13.0% compared to the beginning of the year.

Capital adequacy ratio (CAR) according to Basel II standards reached 13.9%. The consolidated NPL ratio, including consumer finance as prescribed in Circular 11 of the State Bank, is only 1.59%, among the lowest in the sector.

HDBank recorded a total operating income of VND 16,045 billion (US$636.6 million), up 32.9% over the same period. Return on equity (ROE) was 26.1%, and return on assets (ROA) reached 2.1%, both are higher than the previous year.

This year the Bank's shareholders are receiving dividends of up to 30%. HDBank has completed paying a 10% cash dividend (i.e: 1000 dong/share) and is continuing to implement the distribution of a 20% stock dividend, expected in the third quarter.

HDBank's total assets exceeded VND 624 trillion (US$24.7 billion), a 29% increase compared to the same period last year. Total funding mobilization reached over VND 552 trillion (US$21.9 billion), of which deposits from digital banking channels reached nearly VND 40 trillion (US$1.6 billion), 5 times higher than the same period last yesar.

HDBank became the first Vietnamese bank to publish a Sustainability Report in 2024, compiled according to international standards. Through the report, HDBank clearly demonstrates its commitment to implementing the principles of sustainable development, towards the goal of Net Zero Bank by 2050.

Additionally, HDBank's position in the international capital markets continued to be affirmed when it was listed among the TOP 500 largest enterprises in Southeast Asia based on the prestigious Fortune magazine's ranking.

HDBank is confident that the highly commendable outcomes achieved in the first six months of the year, coupled with the strategic implementation of pioneering initiatives, will serve as a robust foundation for the Bank's sustained and elevated trajectory in 2024.


Hashtag: #HDBank

The issuer is solely responsible for the content of this announcement.

Business News

Hashtag.net.au - avatar Hashtag.net.au

Hashtag.net.au - avatar Hashtag.net.au

Hashtag.net.au - avatar Hashtag.net.au

Hashtag.net.au - avatar Hashtag.net.au

Hashtag.net.au - avatar Hashtag.net.au

Hashtag.net.au - avatar Hashtag.net.au

Health & Wellness

Will Anyone Notice My Clear Aligners? Here’s the Honest Truth

Hashtag.net.au - avatar Hashtag.net.au

Image by freepikClear aligners have become hugely popular in Australia, promising discreet orthodontic treatment without the obvious look of metal braces. Yet, despite their growing popularity, a co...

How to Pick the Best Hair Loss Treatment for You

Hashtag.net.au - avatar Hashtag.net.au

Hair loss invades the lives of millions worldwide, wreaking havoc with self-esteem and self-image. With so many to choose from—whether it is topical treatment and medications or newer surgical metho...

Understanding Root Canal Treatment: What You Need to Know

Hashtag.net.au - avatar Hashtag.net.au

Image by pvproductions on Freepik When it comes to dental health, many people hear the term root canal treatment and immediately feel a bit uneasy. This procedure often gets a bad reputation, but und...