HDBank’s capital skyrockets 66 per cent

June 28, 2012 | 11:50

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Strategic partner hunting HDBank has increased its chartered capital from VND3 trillion ($144.2 million) to VND5 trillion ($240.3 million).

Its chairwoman Le Thi Bang Tam said this move focused on enhancing financial competency, investing in technology and upgrading transaction offices.

“This new capital will help us strengthen our financial resources to create more chances to develop.”
In mid-June, the Ho Chi Minh City-based lender cut its lending rates for individuals to an annualised 12 per cent, for buying and repairing homes to 12.4 per cent and for agricultural production and exports to 13 per cent, under a lending programme implemented until August 31.

The 13 per cent rate is also for small- and medium-sized enterprises (SMEs) and supporting industry companies.

SMEs, agricultural and rural companies, export-oriented businesses and supporting industry firms are the prioritised four groups of enterprises provided with preferential interest rates and with immediate disbursement from a credit package totalling VND30 trillion ($1.44 billion), finalised on June 5 by leaders of Ho Chi Minh City and the State Bank.

This year, HDBank expects its pre-tax profit to be is VND645 billion ($31 million), up 14 per cent against last year. Total deposits are expected to increase by 13.4 per cent and the credit growth rate is estimated at 10 per cent in 2012.