HDBank wins top US award for annual reportTuesday, August 7,2018
AsemconnectVietnam - The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has won the Platinum Award, the highest recognition, at the 2017 Vision Awards Annual Report Competition organised by the League of American Communications Professionals.
The bank’s 2017 annual report, highlighting the theme “Set Sail”, got the highest scores in most categories.
It scored 30/30 in First Impression, 10/10 in Report Cover, 10/10 in Letter to Shareholders, 10/10 in Report Narrative, 10/10 in Report Financials, 10/10 in Creativity, 9/10 in Message Clarity, and 10/10 in Information Accessibility for a total score of 99/100.
The contest received applications from around 1,000 companies in various sectors around the world.
Among the big winners were global brands such as Abbott, IBM, Intel, Kumho Petrochemical, The Nielsen Company, and Union Asset Management Holding AG.
By overcoming tough competition from big lenders and financial institutions around the world to win the Platinum Award, HDBank has proved its annual report is attractive both in terms of content and presentation.
The report fully complies with regulations, providing detailed and transparent information to the bank’s shareholders and investors about its business performance in 2017 and plans for the upcoming years.
It describes in detail all the activities of each and every department and unit of the bank to showcase the desire of the bank’s management and more than 13,000 staff to conquer new horizons.
HDBank won the Gold Award in this competition in 2011, 2012 and 2016.
The bank reported a solid performance in 2017, including a pre-tax profit of VND2,417 billion (US$106.5 million), a year-on-year increase of 110% and nearly double its target. Post-tax profit was worth VND1,954 billion (US$86 million), up 2.2 times from 2016.
In the first six months of this year, it reported a pre-tax profit of VND2,063 billion (US$90.1 million), a 2.3-fold jump from the same period last year.
The bank’s return on assets and return on equity were 1.74% and 21.11%, among the highest in the sector.
It also had the lowest non-performing loans ratio in the industry of just 0.93%.
HDBank has won numerous awards and been highly rated by international institutions.
The bank was rated as the “Best Bank in Vietnam” by Asiamoney in 2017, the “Best Managed Business in Asia” by Euromoney for two years (2015, 2016), and among the Top 500 Banks in Asia and Top 8 Commercial Banks by The Asian Banker. Moody’s credit rating has given it a B2.
Earlier this year it was presented with a Labour Order, second class, from the Vietnamese President.
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