Business Daily Media

Men's Weekly

.

HDBank: Credit growth is bright spot for banking

HO CHI MINH CITY, VIETNAM - Media OutReach Newswire - 21 June 2024 - As of June 14, credit growth has reached 3.79 per cent compared to the end of last year, according to a report by the State Bank of Viet Nam (SBV).



HDBank currently tops the banking industry in profitability. - Photo courtesy of HDBank
HDBank currently tops the banking industry in profitability. - Photo courtesy of HDBank

However, challenges still abound in promoting credit growth.

The SBV recently issued a document requiring implementation of solutions to achieve a credit growth rate of 5-6 per cent by the end of the second quarter.

Statistics show in the first quarter, seven out of 27 banks recorded negative credit growth, including some large banks.

But there are still many banks with a credit growth rate that is much higher than the industry average, such as LPBank, Techcombank, HDBank and MSB.

These banks are also showing good profits compared to the industry average.

Each bank has different strategies and competitive advantages to exploit market opportunities.

LPBank recorded the strongest credit increase of over 12 per cent, while Techcombank grew by more than 7 per cent and HDBank by 6.2 per cent. MSB's credit growth increased by more than 5.6 per cent.

A HDBank representative stated the bank has implemented early risk management policies to mitigate adverse external impacts and ensure a stable and flexible operational framework.

The bank tops the industry in profitability, with a return on equity (ROE) reaching 26.7 per cent.

Continuous improvements in operational safety ratios also provide shareholders and investors with peace of mind amid numerous challenges.

Meanwhile, promoting digitalisation and optimising processes and operating costs are also key to improving the bank's operational efficiency over the past few years.

At HDBank, high growth targets and industry-leading ROE come with a strong optimisation of the Cost-to-Income Ratio (CIR), from 39.3 per cent in 2022 to only 31.7 per cent in the first quarter of this year.

At other banks such as Techcombank, VPBank or especially at large network-operating banks like VietinBank, the CIR has also shown significant improvements in recent years, approaching around 30 per cent.

Strong digitalisation and optimisation of performance and operational efficiency are also necessary factors for sustainable growth goals among Vietnamese banks.

According to State Bank representatives, credit growth is expected to increase in the last months of the year.

Hashtag: #HDBank

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

News from Asia

uFinance Empowers Tertiary Students to Overcome Tuition Pressures and Navigate Grant Loan Challenges with Ease

HONG KONG SAR - Media OutReach Newswire - 20 October 2025 - For Hong Kong tertiary students, pursuing dreams often comes with financial pressures. While applying for the government's Student Finan...

Two Hong Kong Free Claim Platforms Unite to Build the Most Comprehensive Legal Info Network for Accident Victims

HONG KONG SAR - Media OutReach Newswire - 20 October 2025 - To help workers, drivers, and accident victims better understand their rights and claim procedures, workinjury.hk and caraccident.hk h...

Siam Paragon Bangkok International Fashion Week 2025 Reinforces Thailand’s Position as Asia’s Leading Fashion Event, Elevating Bangkok as a Global Fashion Hub

BANGKOK, THAILAND - Media OutReach Newswire - 20 October 2025 - The grandest fashion event of the year, "Siam Paragon Bangkok International Fashion Week 2025" (BIFW2025), concluded with a resound...

Sun Group Launches Sun PhuQuoc Airways, Completing its Tourism Ecosystem

PHU QUOC, VIETNAM - Media OutReach Newswire - 17 October 2025 - Sun Group officially launched Sun PhuQuoc Airways at a ceremony in Hanoi on October 15, marking the debut of Vietnam's first 'resort...

The Aspen Tree The Foresitas Unveils World-Class All-in-One Senior Living Community with Residences, Wellness Clubhouse, and Health & Brain Center

BANGKOK, THAILAND - Media OutReach Newswire - 15 October 2025 – The Aspen Tree The Forestias has officially launched as a holistic residential community under "Aging-in-Place" concept, blending na...

OH!SOME Launches Two Special Themed Collections Featuring Disney and Pixar’s Toy Story and Disney’s Zootopia

SINGAPORE - Media OutReach Newswire - 21 October 2025 - As Toy Story celebrates its 30th anniversary this year, OH!SOME launches an all-new collection inspired by the timeless charm of Disney and ...

Egyptian Company for Cosmetics certified as one of the Best Places to Work in Egypt for 2025

CAIRO, EGYPT - Media OutReach Newswire - 21 October 2025 – The Egyptian Company for Cosmetics, on behalf of ECC Group — Egyptian Company for Cosmetics, Infinity Clinic Pharma, Vision Cosmetics, ...

Vegatron Unveils Next-Gen Fuel Management Software in Singapore, Accelerating Digital Transformation in Oil and Gas

SINGAPORE - Media OutReach Newswire - 21 October 2025 - Vegatron Pte Ltd, a Singapore-based leader in oil and gas distribution and speciality lubricants, is strengthening its technology roadmap th...

Asia Pacific cities hold steady at the top amid global volatility, Kearney's latest report finds

Top five APAC cities including Tokyo, Singapore, Beijing, Hong Kong, and Shanghai remained in the top ten of Global Cities Index, underscoring resilience amid global volatility...

Chaozhou: A Millennium-old City Embraces Renewed Vitality

CHAOZHOU, CHINA - Media OutReach Newswire - 21 October 2025 - From November 28th to 30th, the city will host the 23rd Teochew International Convention, welcoming Teochew people from around the wor...

pay.com.au unveils first-of-its-kind FX rewards feature, becoming the most flexible rewards solution for Aussie businesses

pay.com.au, the end-to-end payments and rewards platform, today announced the launch of International Payments, Australia’s first foreign exchange...

Yellow Canary partners with Celery to bring pre-payroll assurance technology to Australia

Wage underpayment headlines continue to put pressure on employers of all sizes, revealing how costly payroll mistakes can be for small and medium bu...

Brennan Bolsters Leadership to Accelerate Next Growth Chapter

In a move to further embed cybersecurity at the heart of its business strategy and deliver sovereign secure-by-design solutions for its customers, A...

How to Be Investable: Insights from Richelle Nicols, CEO of Pollinatr

Richelle Nicols is the CEO of Pollinatr, a pioneering investment and business development program designed to support and accelerate the growth of s...

What Can Australian SMEs Hope For in a Meeting Between Albanese and Trump?

For small and medium-sized enterprises (SMEs) in Australia, international politics might seem distant—but when leaders like Prime Minister Anthony...

Qantas to Serve Nan’s Davidson Plum Cookie

Lake Macquarie, NSW (Awabakal Country): From a single mother’s kitchen bench to supermarket shelves, Wiradjuri entrepreneur Terri-Ann “Tezzi” Dani...