HDBank: Credit Growth as a Positive Highlight in Banking

As of June 14, credit growth reached 3.79% compared to the end of last year, according to the State Bank of Vietnam (SBV). However, promoting further growth presents challenges. The SBV requires a 5-6% growth rate by the end of Q2.

Notably, HDBank leads in profitability. Despite some banks showing negative growth in Q1, others like LPBank, Techcombank, HDBank, and MSB achieved higher-than-average rates. LPBank saw a 12% increase, Techcombank over 7%, HDBank 6.2%, and MSB 5.6%.

HDBank attributes its success to early risk management and a stable, flexible operational framework. The bank boasts a 26.7% return on equity (ROE) and improved operational safety ratios. Continuous efforts in digitalisation and cost optimisation have enhanced its efficiency, reducing the Cost-to-Income Ratio (CIR) from 39.3% in 2022 to 31.7% in Q1 2024.

Other banks, like Techcombank and VPBank, are also optimizing performance and achieving CIR improvements near 30%. SBV representatives expect credit growth to rise in the year's final months.