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HDBank Announces Ambitious Financial Targets and Dividend Plans for 2024

HDBank has revealed its dividend distribution strategy for the fiscal year 2023, specifying a 25% dividend payout, with 10% in cash and 15% in stocks. This information was part of the documents released ahead of the bank's 2024 annual general meeting (AGM) scheduled for April 26, which will be conducted online.

The bank, celebrating a decade of reform, reported a robust performance in 2023, maintaining high profitability with an ROA of 2% and an ROE of 24.2%. For 2024, HDBank has set its sights on achieving pre-tax profits of VND15.85 trillion ($634.13 million), marking an increase of 21.8% from the previous year, and aiming for an ROE of 24.6%. The bank is also focused on keeping its non-performing loans ratio among the lowest in the industry.

With plans to further solidify its financial standing, HDBank expects to increase its charter capital by over VND4.56 trillion ($182.88 million), reaching a total of VND33.65 trillion ($1.34 billion). This move is part of its strategy to sustain rapid growth while maintaining high dividends, a practice it has consistently followed for more than a decade.

HDBank's commitment to sustainable development is evident in its comprehensive environmental, social and governance (ESG) strategy, including a significant emphasis on digital transformation and green growth. The bank aims to continue leading in the adoption of advanced management standards and further enhancing its digital banking initiatives.

Anticipation builds among nearly 20,000 shareholders ahead of the AGM, where HDBank's governance and plans for 2024 will be discussed amid an uncertain economy. The bank remains confident in achieving its set goals, signaling continued progress for its stakeholders.

R. P.

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