Overcoming fluctuations, being among the most efficient banks in the industry
According to information from the Conference, in 2023, HDBank will grow comprehensively in both scale and quality, completing and exceeding the planned targets.
Specifically, consolidated profit for the whole year of 2023 reached VND 13,017 billion, an increase of 26.8% compared to 2022 - among the listed banks with the highest profit growth rate. This result affirms HDBank's ability to maintain high growth in a volatile context. The efficiency indicators accordingly continue to be high, with return on total assets (ROA) reaching 2.0% and return on equity (ROE) reaching 24.2%, among the leading groups in the Vietnamese commercial banking system. The individual bad debt ratio is only 1.5% and the consolidated ratio is 1.79% and is in the low range in the industry.
Another notable point is that digitalization activities have helped HDBank grow significantly in the number of new customers and the number of transactions, with increases of 107% and 88% respectively over the same period. Of which, 94% of individual customers' transactions are conducted on digital channels, higher than the figure of 77% in 2022.
Mr. Pham Quoc Thanh - General Director added that, seeing that the economy has shown positive signs of recovery from the fourth quarter of 2023, with export, agriculture, consumption, tourism and real estate sectors showing positive growth signs, HDBank has implemented many preferential credit packages to promptly support the borrowing needs of people and businesses.
Regarding the 2024 outlook, at the conference, HDBank provided detailed information on some notable indicators, which are also the growth potential and strengths in the coming time.
Specifically, by the end of 2023, HDBank's capital adequacy ratio will continue to increase to 12.6%, among the top in the industry; the loan/deposit ratio will be at 66.2% (regulated limit of 85%) creating room for large credit growth in the coming time without pressure on capital sources; the ratio of short-term capital for medium- and long-term loans will be only 22.5% (regulated limit of 30%) creating conditions for considering increasing medium- and long-term debt to improve net interest margin (NIM).
HDBank was awarded Board of the Year by the Vietnam Institute of Directors (VIOD).
With the above advantages and proactive conditions, HDBank plans to submit to the upcoming Annual General Meeting of Shareholders a target of growth in assets, revenue, outstanding debt, and profit in 2024 of over 20%.
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