Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank - HoSE: HDB) has just announced its financial report for the fourth quarter of 2023 with pre-tax profit reaching VND 13,017 billion, up 26.8%. Individual bad debt is only 1.5%, growth quality indicators are in the leading group.
In the fourth quarter of 2023 alone , HDBank's pre-tax profit reached VND 4,385 billion, an increase of 94.7% over the same period, and for the whole year of 2023, it reached VND 13,017 billion - the highest level ever for this bank.
Profitability indicators ROA reached 2.0%, ROE reached 24.2%, both higher than the same period last year and among the leading groups in the industry. The bank has proactively increased provisions to strengthen financial buffers, ready for market fluctuations. Capital safety CAR (Basel II standard) reached 12.6%, reaching 150% compared to the regulations of the banking industry.
As of December 31, 2023, HDBank's total assets reached over VND 602,000 billion, an increase of 44.7% compared to 2022. Capital mobilization reached VND 537,000 billion, an increase of 46.5%. Consolidated credit balance reached VND 353,000 billion, an increase of 31.8%.
In 2023, digital banking channels grew strongly in both the number of new customers and the number of transactions, increasing by 107% and 88% respectively over the same period last year.
94% of individual customer transactions are conducted on digital channels, significantly higher than the rate of 77% in 2022. For the first time, the number of new customers attracted on digital channels has exceeded the number of new customers through traditional channels.
HDBank is a bank with a decade of continuous high growth in the banking industry. On average, over the past 10 years, HDBank has achieved a compound profit growth rate of 49.1% per year.
To maintain sustainable growth momentum over a long period of time, on the one hand, HDBank is steadfast in its strategy of multi-functional retail, SME and consumer finance, and on the other hand, it actively applies the best international standards in modern banking management.
HDBank has pioneered the implementation of Basel II and in 2023 will continue to upgrade to Basel III international governance standards while implementing the ESG strategy.
2023 also marks the 10-year journey of HDBank merging with DaiABank and acquiring consumer finance company Societe Generale Viet Finance (SGVF), the predecessor of today's HD SAISON.
These financial institution restructuring projects have created momentum for HDBank's growth journey, expanding its footprint to secondary urban areas and rural areas for chain financing programs and effectively meeting the consumer loan needs of workers and laborers who do not have access to banking services .
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