AsemconnectVietnam - On February 1, 2024, Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank - stock code: HDB) organized an investor conference, updating business results in 2023 and information on some directions and prospects for 2024.

Overcoming fluctuations, belonging to the group of leading effective banks in the industry.
According to information from the Conference, in 2023, HDBank will have comprehensive high growth in both scale and quality, completing and exceeding planned targets.
Specifically, consolidated profit for the whole year 2023 will reach VND13,017 billion, an increase of 26.8% compared to 2022 - among the group of listed banks with the highest profit growth rate. This result confirms 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 group of Vietnam commercial banking system. The individual bad debt ratio is only 1.5% and the consolidated is 1.79% and is at the low end of the industry.
Another notable point, digitalization activities helped HDBank grow dramatically in the number of new customers and number of transactions, with increases of 107% and 88% respectively over the same period. Of these, 94% of individual customer transactions are made on digital channels, higher than 77% in 2022.
Mr. Pham Quoc Thanh - General Director added that the economy has shown signs of positive recovery from the fourth quarter of 2023, the export, agriculture, consumption, tourism and real estate sectors... have good credit. Signing positive growth, HDBank has deployed many preferential credit packages to promptly support the loan needs of people and businesses.
Regarding the outlook for 2024, at the conference, HDBank detailed a number of notable indicators, which are also the potential and strengths of growth in the coming time.
Specifically, by the end of 2023, HDBank's capital adequacy ratio continues to increase to 12.6%, among the industry's leading group; Outstanding debt/deposit ratio at 66.2% (regulatory limit 85%) creates space for large credit growth in the coming time without pressure on capital resources; The ratio of short-term capital for medium-long-term loans is only 22.5% (regulatory limit of 30%), creating conditions for considering increasing medium-long-term debt balance to increase interest margin (NIM).
With the above advantages and proactive conditions, HDBank plans to submit to the upcoming Annual General Meeting of Shareholders targets for growth of assets, revenue, outstanding loans, and profits in 2024 at over 20%.
N.Nga
Source: VITIC/Tinnhanhchungkhoan