HDBank Achieves Gross Income Exceeding VND 4,190 Billion

Van Cao

HDBank achieves gross income exceeding VND 4,190 billion and maintains non-performing loan ratio at only 0.8%, while joining hands with the community to overcome the pandemic

HDBank Achieves Gross Income Exceeding VND 4,190 Billion
Ho Chi Minh City Development Commercial Joint Stock Bank (HDBank – ticker symbol: HDB) announced its profit before tax in the first 6 months of the year reached VND 4,193 billion, up 44.2% over the same period in 2020 and completing 58% of the annual plan. The standalone non-performing loan ratio is at only 0.8%. The bank implemented interest rate reduction of 1-2% per annum to support customers.
According to the consolidated financial statements for the second quarter of 2021, as of June 30, 2021, total assets reached VND 330,970 billion. Outstanding debt reached more than 199,163 billion, up 5.8% compared to the end of 2020. The standalone non-performing loan ratio was at only 0.8%, belonging to the group of banks with the lowest non-performing loan ratio
Total operating income in the second quarter reached VND 4,254 billion and the cumulative 6-month operating income reached more than VND 8,422 billion, up 32.7% over the same period in 2020. Of which, net revenue from services reached more than VND 857 billion, 2.3 times the same period last year thanks to the strong growth of bancassurance and payment services, demonstrating that there is still a lot of room for growth.
Management efficiency and profitability were enhanced with a sharp increase in return on equity (ROAE) from 21.6% to 25.6%. Return on assets (ROA) increased from 2.0% to 2.1%. The cost to operating income ratio reached 39.4%, better than the same period last year.
Capital adequacy and liquidity are at a good level with CAR (Basel II) reaching 13.2%. Loan-to-deposit ratio (LDR) reached 68%. Recently, HDBank pioneered the implementation of Basel III and received an upgrade by the international credit rating agency Moody's Investors Service (Moody's) from "Stable" to "Positive".
With the tradition of paying regular dividends at a high level, HDBank has just implemented a stock dividend for 2020 at the rate of 25% for the list of shareholders finalized by August 27, 2021.
Accompanying and joining hands with the community to overcome the pandemic, from July 15, HDBank reduced the average lending interest rate by 1%p.a. for customers in prioritized sectors as well as in areas directly affected by the Covid-19 pandemic. In parallel, HDBank continues to implement preferential lending programs with interest rates up to 4.5% lower compared to current interest rates.
HDBank left a special hallmark with the initiative to establish the Covid-19 Vaccine Fund and supported Fund's activities together with Sovico Group. The Government's Vaccine Fund has raised VND 8,300 billion, contributing to Vietnam's determination to fight the pandemic.
HDBank is one of the pioneer banks in implementing digital transformation and automating operations by applying eKYC, promoting non-cash payments, increasing utilities on digital transaction channels, etc. to help improve efficiency and customer experience, while reducing face-to-face contact.
With positive results in the first 6 months of the year, HDBank is confident to complete and exceed the planned targets for 2021, creating momentum for a new growth phase according to the strategy just finalized with foreign consultants.


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