Modern Australian
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.

7 Common Air Conditioner Issues in Melbourne – And How to Fix Them

Image by freepik Living in Melbourne, we all know how unpredictable the weather can be. One moment it’s cold and windy, the next it’s a scorchin...

Powering Palm QLD with Reliable Electrical Solutions

Image by pvproductions on Freepik When it comes to finding a trustworthy electrician Palm QLD locals can count on, the team at East Coast Sparkies s...

The Smart Way to Grow Online: SEO Management Sydney Businesses Can Rely On

If you’re a Sydney-based business owner, you already know the digital space is crowded. But with the right strategy, you don’t need to shout the...

What Your Car Says About You: The Personality Behind the Vehicle

You can tell a lot about someone by the car they drive—or at least, that’s what people think. True Blue Mobile Mechanics reckon the car says a l...

The Confidence Curve: Why Boudoir Photography Is the Empowerment Trend You Didn’t Know You Needed

Boudoir photography has been quietly taking over social feeds, Pinterest boards, and personal milestones—and for good reason. It’s not just abou...

Understanding Level 2 Electricians: Why Sydney Residents Need Licenced Experts for Complex Electrical Work

When it comes to electrical work around the home or business, not all electricians are created equal. In Sydney, particularly when you're dealing wi...

Retirement Anchored in Model Boat Building for Waterford’s Doug Unsold

WATERFORD — When Doug Unsold sees his ship come in, it’s usually one he’s crafted with his own hands. The 67-year-old retiree from Waterford ...

The Science Behind Alarm Clocks and Your Circadian Rhythm

Waking up on time isn’t just about setting an alarm—it’s about working with your body, not against it. At the heart of every restful night and...

How to Use Plants to Create a Calming Atmosphere in Your Home

In today’s fast-paced world, cultivating a calm, soothing environment at home has never been more important. Whether you live in a busy urban apar...

How Maths Tutoring Can Help Students Master Maths

Mathematics can be a daunting subject for many students, often causing stress and frustration. However, maths tutoring has proven to be an effective...

Refurbished iPads Are Better Than New Ones (Here's Why)

Image by rawpixel.com on Freepik Apple's refurbished iPad program has quietly become one of the best deals in tech. While everyone obsesses over the ...

Your Guide to Finding the Right GP: What Perth City Doctors Offer Today

Choosing a General Practitioner (GP) is one of the most important health decisions you’ll make. Luckily, Perth’s vibrant CBD now hosts a new ge...

Why Every Mining Operation Needs a Robust Safety Management System

Mining is one of the backbones of the Australian economy, particularly in Western Australia. Back in 2019-20, mining contributed 10.4% of Australiaâ...

Australian Classic Literature Enjoys Resurgence

Welcome back to the good old days of storytelling! As the modern world becomes increasingly more demanding, returning to childhood favourites offers...

How to Choose the Right Lawyers in Sydney for Your Situation

When faced with a legal issue, selecting the right legal representation can make all the difference. Whether you're dealing with a personal injury, ...

Building a Governance Model for Headless Content Management at Scale

Image by pch.vector on Freepik There's never been a better time to implement a headless content management system (CMS) to gain the flexibility and ...

Understanding Trade Insurance: Essential Protection for Businesses

Image by Drazen Zigic on Freepik In the current economic environment, trade insurance is an important element for companies trading both locally an...

Choosing the Right Timber for External Cladding

Timber cladding is one of those finishes that pulls double duty: it makes a building look warm and welcoming, and it quietly shields the frame from ...