HDBank reports impressive growth in 2019 on journey to become a Happy Digital Bank

HDBank has reported upbeat business results in the first quarter of 2020 despite the COVID-19 pandemic

At the 30^th anniversary of HDBank’s establishment early this year, Ho Chi Minh City Party Secretary Nguyen Thien Nhan attended the celebrations to congratulate the HDBank team.

“HDBank aims to become a Happy Development Bank, striving for the happiness of every employee as well as of customers and all people,” Nhan said.

These words have become a source of inspiration and the lodestar for HDBank's leadership in achieving the goal of building a Digital Bank, bringing happiness to all partners, the community, and the bank’s employees alike.

In 2019, HDBank registered a breakthrough business year, leveraging the superior efficiency of previous years, affirming the position and brand of HDBank both domestically and internationally, bringing high benefits to customers, shareholders, the bank itself, partners, and the whole society.

As stated in the annual report, as of December 31, 2019, HDBank reported total consolidated assets of VND229.477 trillion ($10 billion), and equity reached VND20.381 trillion ($886.26 million), a 21.1 per cent jump on-year.

Pre-tax profit reached VND5.018 trillion ($218.17 million), an increase of 25.3 per cent compared to 2018, setting a new record. Return on average assets (ROAA) and return on average equity (ROAE) are 1.8 and 21.6 per cent, respectively – higher than in 2018. HDBank’s separate non-performing loan ratio was tightly controlled at less than 0.98 per cent – one of the lowest levels in the industry.

With these positive business results, the bank has celebrated its 30-year milestone on a hight note, affirming its position as a bank with high and sustainable growth, ensuring safety and quality every year, while always being proactive in social welfare activities.

2020 will be a pivotal year for HDBank's digital transformation. Accordingly, digitalisation will provide the key solutions to achieve the strategic goals set for 2020-2030.

HDBank has spent billions of dollars annually to intensively invest in researching and applying technologies in products and services, staying ahead of the curve, while taking the lead in 4.0 technologies in the fields of finance and banking, digital transformation, and cashless transactions.

It has also made efforts in fintech and digital bank development, leveraging world-class privacy and security platforms, aiming to serve 40 million customers.

Consistent with its sustainable development strategy, harmonising the goals of economic development, and accompanying the community at all times, HDBank has kept an ever-evolving development strategy to react in time to the changing needs of the times.

In response to the COVID-19 pandemic, the bank soon established an emergency committee for epidemic prevention and control that has posted effective operations. HDBank has implemented practical measures to protect the health of its employees, customers, and the safety of the whole HDBank system across the country.

Contributing to supporting the economy and standing side by side with customers in challenging circumstances, HDBank has deployed diverse credit packages to benefit customers such as offering preferential loans with interest rates from 6.5 per cent only, interest rate reduction and exemption of 2 -4.5 per cent, lending to stabilise the prices of essential goods and to help businesses pay salaries to employees, just to name a few.

Joining forces with the whole country in combating COVID-19, HDBank has contributed VND10 billion ($434,780) to the Vietnam Fatherland Front Committee's programme to prevent COVID-19 and saline intrusion in the Mekong Delta region.

HDBank has also supported 1,000 medical beds, with the total value of VND3 billion ($130,430) and donated equipment and medical supplies at a total value of nearly VND2 billion ($86,960) to five provinces in the Mekong Delta suffering from drought and saline intrusion.

In the first quarter of 2020, despite COVID-19 implications, the bank’s performance was very positive, surpassing the plan in many aspects.

“With the spirit of optimism to always find opportunities in challenges, HDBank will power through the pandemic and grow stronger. We are happy to live and work at HDBank – Happy Digital Bank in the new era!," the HDBank annual report 2019 said.