HDBank announces over $500 in million profit

HDBank has announced its audited financial statements for 2023, which show it achieved its best ever results. Photo courtesy of HD Bank

In the past 10 years HDBank has achieved a compounded annual growth rate of 49.1 per cent.

Its ROA and return on equity (ROE) profitability ratios were 2 per cent and 24.2 per cent respectively, both higher than last year and keeping HDBank among the group of leading banks in these crucial indicators.

Its capital adequacy ratio (CAR) of 12.6 per cent is equal to 150 per cent of the ratio stipulated for the banking industry under Basel II norms. Its non-performing loan ratio is only 1.5 per cent, and other prudential indicators are all positive.

As of December 31, 2023, HDBank's total assets were worth over $24.3 billion, up 44.7 per cent from a year earlier.

Deposits were up 46.5 per cent at $21.6 billion, and the consolidated credit balance was $14.2 billion, up 31.8 per cent.

To maintain sustainable growth momentum, HD Bank is steadfast in its strategic focus on multipurpose retail, small- and medium-sized enterprises and consumer finance, and also proactively adopts the best international standards for modern banking management.

In 2023, the bank pioneered upgrading to Basel III international governance standards and embracing an environmental, social and governance (ESG) strategy.

HDBank is the first in Vietnam to publish an ESG report in 2024 as part of its efforts to help Vietnam achieve its commitment of achieving net-zero greenhouse gas emissions.

HD SAISON Finance Co. Ltd., a joint venture with a Japanese partner, achieved leading business results in terms of profit and safety among financial companies.

In addition to vibrant business activities, HDBank has also discharged its social responsibility through meaningful programmes nationwide.

HDBank was honoured with many prestigious awards in the past year, such as the ASEAN Business Awards 2023, the Digital Innovation Award by the ASEAN Business Advisory Council, the Board of The Year awarded by the Vietnam Institute of Directors, and the Best Retail Bank in Vietnam in 2023 Award.

HDBank is honoured as ADB's leading partner bank in Vietnam The Ho Chi Minh City Development Bank (HDBank) was honoured as the Leading Partner Bank in Vietnam by the Asian Development Bank (ADB) at an award ceremony for the Trade and Supply Chain Finance Program in Singapore earlier this month.

HDBank posted record profit for 2023 With its sustainable development strategy and effective risk management, Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) sailed through last year's troubled waters to achieve high growth across all indicators.

HDBank to acquire a 30 per cent stake in HD Securities HDBank has announced plans to purchase an up to 30 per cent share of HD Securities JSC (HDS) following a resolution approved at its 2023 shareholders' meeting.