Business Daily Media

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.

News from Asia

Cushman & Wakefield and Corenet Global Release New Survey Results On "What Occupiers Want"

Cost remains king, but talent, flexibility, and service are reshaping real estate strategy globally HONG KONG SAR - Media OutReach Newswire - 2 July 2025 - Cushman & Wakefield (NYSE: CWK), in ...

Chubb Life Hong Kong Launches Chubb 1792 Club: A New Era in Tailored Wealth Management Services

With a legacy of excellence, expertise, and a bold vision, Chubb Life HK is meeting rising demand for sophisticated, future-focused financial planning through bespoke legacy and wealth solutions HO...

Octa broker's take on the upcoming NFP report

KUALA LUMPUR - Media OutReach Newswire - 2 July 2025 - This Thursday at 12:30 p.m. UTC, the U.S. Bureau of Labor Statistics will release its highly anticipated Nonfarm Payroll (NFP) report...

OneMagnify India earns Best Place to Work certification for the fourth consecutive year

CHENNAI, INDIA - Media OutReach Newswire - 2 July 2025 - OneMagnify, a global leader in marketing, data, and technology solutions, has once again been recognized as a Best Place to Work in India ...

BeauEver Secures NZ Prime Minister’s Support in Historic China Summit to Accelerate Global Skincare Expansion

SHANGHAI, CHINA - Media OutReach Newswire - 2 July 2025 - At the 2025 China–New Zealand Trade Innovation Summit, New Zealand Prime Minister, the Right Hon. Christopher Luxon, witnessed the officia...

Central Europe Technologies recognized as one of the Best Places to Work in Romania for 2025

BUCHAREST, ROMANIA - Media OutReach Newswire - 2 July 2025 – Central Europe Technologies has been officially recognized as one of the Best Places to Work in Romania for 2025. Central Europe Techno...

CDNetworks Selected as Strategic Partner by Petrolimex Aviation to Bolster Cybersecurity with AI-Powered Cloud Platform

SINGAPORE - Media OutReach Newswire - 3 July 2025 - CDNetworks, the APAC-leading network to deliver edge as a service, today announced that Petrolimex Aviation, a major provider of aviation fuel...

Trade Crypto Without Purchasing It: Octa Broker About Crypto-CFDs

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 3 July 2025 - Crypto volatility poses both potentially spectacular possibilities and enormous risks. For example, by investing in crypto assets o...

Tia Lee Graces the Cover of ELLE Malaysia: A Journey of Empowerment, Evolution, and Expression

HONG KONG SAR - Media OutReach Newswire - 3 July 2025 - Global fashion and music icon Tia Lee (Lee Yu Fen) takes center stage on the cover of ELLE Malaysia, where she reflects on her multifaceted ...

Porsche Design Tower Bangkok Offers a Culinary Voyage into Iconic Living

STUTTGART, GERMANY / HONG KONG SAR - Media OutReach Newswire - 25 June 2025 - Porsche Design Tower Bangkok hosted an exclusive dinner event in a private estate villa in Hong Kong, offering esteeme...

Beyond borders: Building a scalable strategy for international hiring

For many Australian businesses, growth increasingly depends on thinking beyond local borders.  As wage pressures rise, and specialised talent pool...

The Next Generation of Maritime Sustainable Solutions

As organizations globally seek innovative ways to improve sustainability and their impact on Earth, the American Waterways Operators (AWO), a lead...

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...

Sell by LayBy