Business Daily Media

Men's Weekly

.

HDBank announces financial statements with profit of $524 million, ROE 24.2%, releases 2024 ESG report

HCM CITY, VIETNAM - Media OutReach Newswire - 1 April 2024 - The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank - stock code: HDB) on March 29 announced its 2023 audited financial statements, which show it achieved its best ever results with pre-tax profit exceeding VND13 trillion (US$524 million), an increase of 26.8%, further consolidating its rapid and steady growth.



Caption
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%.

Profitability ratio ROA is 2% and ROE is 24.2%, 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% is equal to 150% of the ratio stipulated for the banking industry under Basel II norms. Its non-performing loan ratio is only 1.5% and other prudential indicators are all positive.

As of December 31, 2023, HDBank's total assets were worth over VND602 trillion ($24.3 billion), up 44.7% from a year earlier.

Deposits were up 46.5% at VND537 trillion ($21.6 billion), and the consolidated credit balance was 353 trillion ($14.2 billion), up 31.8%.

To maintain sustainable growth momentum, on one hand HDBank is steadfast in its strategic focus on multi-purpose retail, small and medium enterprises and consumer finance, and on the other 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 - Digital Innovation Award by the ASEAN Business Advisory Council, Board of The Year awarded by the Vietnam Institute of directors (VIOD), and Best Retail Bank in Vietnam in 2023.

The bank also won award for Listed Companies with Best Orgnisation of Annual General Meeting by the Ho Chi Minh City Stock Exchange, Hanoi Stock Exchange and Investment Review newspaper.

Hashtag: #HDBank

The issuer is solely responsible for the content of this announcement.

About HDBank

stands as one of Vietnam's prominent financial institutions, deeply committed to promoting ESG, sustainable development, innovation, and development.

The bank's mission is to offer financial solutions that enable both individuals and businesses to thrive and prosper.

News from Asia

Tenchijin Named Finalist for IVS2025 LAUNCHPAD

Exhibiting at IVS Startup Market to Showcase Advanced Water DX Solutions TOKYO, JAPAN - Media OutReach Newswire - 30 June 2025 - Tenchijin Inc...

ESET and Canon Extends Regional Alliance to Combat Asia’s Security Challenges

SINGAPORE - Media OutReach Newswire - 30 June 2025 – ESET Asia Pte. Ltd. ("ESET"), a global leader in cybersecurity, and Canon Singapore Pte. Ltd. ("Canon") today announced the signing of a Memora...

Counterfeit and Refurbished Transducers Pose Serious Safety Risks

Merz Aesthetics® Hong Kong Launches Ultherapy® Authenticity Verification Reward Program This August Consumers Urged to Verify Ultherapy® Transducers Authenticity for Safe and Effective Treatments H...

Porsche Design Tower Bangkok and Curvistan Bangkok Host an Exclusive Preview of the "Electrifying Past. Present. Future." Exhibition

BANGKOK, THAILAND - Media OutReach Newswire - 28 April 2025 - Porsche Design Tower Bangkok showcased its commitment to innovation by hosting an exclusive evening reception with Curvistan Bangkok, ...

Hong Kong: Bridging Business Opportunities under the Belt and Road Initiative

HONG KONG SAR - Media OutReach Newswire - 30 June 2025 - As a global trade and financial centre and a key link in the Belt and Road Initiative (B&RI), Hong Kong plays a pivotal role in connect...

Octa Black: Octa broker's premium trading experience

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 1 July 2025 - Octa, a globally regulated and trusted broker since 2011, rewards its high-value clients in Indonesia, Malaysia, and Nigeria with a...

Gaw Capital Appoints Nicholas Toh as Managing Director – Head of Data Centre Platform, Asia (Ex-China)

SINGAPORE - Media OutReach Newswire – 1 July 2025 – Gaw Capital Partners, a leading multi-asset investment management firm, is pleased to announce the appointment of Mr. Nicholas Toh as Managin...

Prime Immigration Consultancy Announces Expansion of Service Offerings to Help Clients Achieve the Singapore Dream

SINGAPORE - Media OutReach Newswire - 1 July 2025 - Prime Immigration Consultancy (PIC), a Singapore-based immigration consultancy, has announced an expansion of its services to provide more comp...

ICONSIAM in Collaboration with Shanghai Yuyuan Tourist Mart Group Brings China’s Most Iconic Lantern Festival to Thailand for the First Time

“Yuyuan Lantern Festival 2025” Lights Up Bangkok to Celebrate 50 Years of Thai–Chinese Diplomatic Ties BANGKOK, THAILAND - Media OutReach Newswire - 1 July 2025 - ICONSIAM, the global landmark al...

SIBUR to expand cooperation with clients in Bangladesh

MOSCOW, RUSSIA - Media OutReach Newswire - 1 July 2025 - SIBUR, Russia's largest producer of polymers and synthetic rubbers, sees potential to increase supplies to Bangladesh following the launch ...

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Why Sport Remains the Safest Bet in an Uncertain World

When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

THE FINE LINE WITHIN HILARIOUS SIGNAGE DESIGN FAILS

It seems like design failures still occur in today’s modern branding era, despite rigorous rounds of approvals behind the scenes. One signage show...

Deputy Announces Exclusive Global Partnership with Predelo to Bring AI to Shift-Based Businesses

Deputy, the global people platform for shift-based businesses, has announced an exclusive partnership with Predelo, an AI Decision Agent-as-a-Serv...

Leftover Budget? The Last-Minute EOFY Tip to Drive Business Success in FY25/26

The countdown is on. With just days left until EOFY, now’s the time to make your remaining 2024–2025 budget work harder and smarter. After workin...

pay.com.au appoints new CEO and Managing Director

The former COO will lead the company’s next growth phase, with ex-CEO Edward Alder transitioning into the role of Managing Director AUSTRALIA, 25...

Sell by LayBy