HDBank reported excellent results in the first half of the year, including achieving 82% of its full-year targets. (Photo courtesy of the bank) For the year to date the total operating income was over 16trillion VND (643.6 million USD), up 32.7%, with net interest income rising by80.1% to more than 2.1 trillion VND.
Pre-tax profit was 8 trillion VND, up 31.7%, meeting 82% of thefull-year target approved by shareholders.
As of September 30, the bank’s capital was over 353 trillion VND (14.2billion USD), of which deposits from customers grew by 13.4% for the year,triple the industry growth rate.
Loans outstanding topped 252 trillion VND (10.1 billion USD), up18.1%.
The lender’s standalone bad debt ratio was only 1.1%. The creditportfolio mainly focused on priority sectors that contribute to economic growthsuch as agriculture and rural development, manufacturing, supply chains, smallbusiness households, and renewable energy.
Retail and consumer finance showed strong recovery post-COVID-19. Thenumber of new customers increased by more than 1.5 million in thefirst nine months to 14 million.
Deposits from retail customers exceeded 123 trillion VND, up 27.2%for the year.
Retail loans outstanding also increased by 27% and continued tomake up the largest proportion of the credit portfolio, underlining HDBank’stop position among retail banks.
Consumer loans by HD SAISON grew at 25% in line with the targetset by the State Bank of Vietnam.
Recently the company signed an agreement with the Vietnam GeneralConfederation of Labour to create a preferential credit package of 10 trillionVND for workers at industrial parks and factories across the country.
HD Bank’s card, bancassurance and services segments such aspayment and foreign currency trading saw robust growth. Life insurance premiumswere worth 1 trillion VND, excluding insurance premiums at HD SAISON (more than550 billion VND), more than double the figure from a year earlier.
Profitability ratios ROE and ROA were 25.2% and 2.2% respectively,putting it among the leading banks in terms of efficiency.
The cost to income ratio (CIR) improved to 37% from 39.4% a yearearlier.
The ratio of short-term capital to medium and long-term loans wasonly 15.9%, far below the maximum of 37% allowed by the central bank.
Its capital adequacy ratio (according to Basel II standards) was15.3%, among the highest of any bank and almost twice the minimum requirementof 8% prescribed by the SBV.
The bank is fully adopting Basel III standards of governance.Recently global credit rating agency Moody's Investors Service againgave HDBank a B1 credit rating following a positive assessment of its assetquality, operating efficiency and liquidity reserves.
The bank’s digital transformation strategy and digital bankingdevelopment have also yielded positive results. The number of customers usingdigital banking services increased by over 50% from the same period last year,with the number of new users in the first nine months nearly triplingyear-on-year.
Both the number and value of transactions on digital channelsdoubled.
HDBank was honoured recently at the 2022 Vietnam DigitalTransformation Awards in the ‘Typical Digital Products, Solutions, andTechnology’ category.
In addition to its strong business performance, it also pays closeattention to its corporate social responsibility.
It donated funds to build 20 houses for disadvantaged peopleat an event held to launch the ‘Month for the Poor in 2022’ in HCMCity earlier this month, raising the number of houses that it has donatedfunds to 600.
It also donates for carrying out social housing projects in anumber of provinces and cities under a programme that sponsors 50,000 houses./.
VNA
