Profit of nearly 5,500 billion VND, HDBank continues the plan of Sustainable Banking

In the first half of 2023, HDBank flexibly reduced lending interest rates with over VND 64,000 billion of outstanding loans, closely following the direction of the State Bank, restructuring debt repayment terms to support customers to overcome difficulties and recover after the Covid 19 pandemic; Member company - HD SAISON promoted a preferential loan package of VND 10,000 billion exclusively for workers and laborers.

ROE and many other top market indicators

According to the financial report, as of June 30, 2023, HDBank's total assets reached VND 483,936 billion, an increase of 26% over the same period last year; total capital mobilization reached VND 430,123 billion, an increase of 17.4% over the beginning of the year, of which mobilization from customers reached VND 309,645 billion, an increase of 44%; total outstanding loans reached VND 293,129 billion, an increase of 9.3% over the beginning of the year.

The above indicators all have high growth associated with the focus on agriculture and rural areas, small and medium enterprises, small traders and supply chains in the strategy of "Sustainable Development - Pioneering Leadership" that HDBank's Annual General Meeting of Shareholders clearly identified earlier this year.

The number of customers using HDBank's digital channels in the first 6 months of 2023 continued to increase by nearly 70% compared to the same period last year. The number of transactions on digital platforms increased by 116% over the same period, corresponding to a 132% increase in transaction value.

By June 30, 2023, HDBank's cost-to-income ratio (CIR) continued to be optimized in the low group in the market, sharply decreasing from 36.98% in the same period last year to 34.77%.

In the first 6 months of 2023, HDBank continued to extend its record of profit growth for the 10th consecutive year with VND 5,484 billion in pre-tax profit. The return on equity (ROE) ratio accordingly reached 22.01%, continuing to maintain its position as the most efficient commercial bank in the system.

These continue to be the best results ever of HDBank, and also the leading growth rates in the market. In particular, the capital mobilization growth rate reached a high level, continue to affirm reputation, brand and customer trust during operation.

Comprehensive implementation of Basel III, still has much room for growth

Proactively implemented since 2019, by June 2023, HDBank has completed the comprehensive application of Basel III - the highest international risk management standards in Vietnam today. At the same time, HDBank's operational safety indicators as of June 30, 2023 are all significantly better than the regulations of the State Bank.

Specifically, the Bank's loan-to-deposit ratio (LDR) was maintained at 70.96%, compared to the prescribed limit of 85%; the consolidated capital adequacy ratio (CAR) reached 12.3%, among the leading groups in the market and over 50% higher than the minimum prescribed level of 8%; the ratio of short-term capital for medium- and long-term loans was at 11.2%, only 1/3 of the current prescribed 34%.

"Overcoming many challenges that can be said to be unprecedented in the first half of this year, HDBank's operating results in the first 6 months of 2023 once again affirmed that the strategy and goals identified by the General Meeting of Shareholders are on the right track. HDBank is steadfast in its sustainable development strategy, focusing on retail and digitalization, associated with efforts to enhance customer experience and value, focusing on the agricultural and rural axis, with individual customers, households, SMEs and value chains.

Improving risk management standards according to Basel III, as well as maintaining operational safety ratios better than the regulations of the State Bank of Vietnam, is the necessary space and capacity for HDBank to continue aiming for growth values in the coming time, to promote production and business activities with customers, contributing to promoting a stronger economic recovery," he said. Kim Byoungho - Chairman of HDBank Board of Directors shared.

With the orientation of sustainable development, building and spreading humanistic values to the community, in parallel with business activities, in the first 6 months of 2023, HDBank has actively implemented many community and social security activities with more than 20 programs nationwide, such as the program "Warm Tet with Love" to people in the highlands; continuing to expand the program of bringing light to poor patients; donating solidarity houses; joining hands to develop residential areas adjacent to the southwestern border militia post; accompanying Ho Chi Minh City sports, futsal football, Vietnamese chess... in regional and international arenas.

In recognition of its efforts and outstanding performance in the first 6 months of 2023, HDBank has been awarded prestigious international awards by many international organizations such as: Outstanding International Payment Quality Award from CitiBank; Special Award for Outstanding International Payment Quality by Wells Fargo; The Asset Triple A Awards - Best Bank for Sustainable Finance in 2022 from The Asset...

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