HDBank Reports First-Half Profit of VND 8,165 Trillion with Low NPL Ratio

Ho Chi Minh City, Vietnam - 1 August 2024 - HDBank announced its financial results for the second quarter of 2024. The bank reported a profit before tax of VND 8.165 trillion (approximately US$324.47 million) for the first half of the year. This marks an increase of 48.9% over the same period last year, driven by enhanced operational efficiency and digital transformation initiatives.

As of June 30, 2024, HDBank recorded a credit growth of 13.0%. The Capital Adequacy Ratio (CAR) under Basel II standards reached 13.9%, and the consolidated NPL ratio stood at 1.59%, among the lowest in the sector.

Total operating income for HDBank was VND 16.045 trillion (US$636.6 million), a 32.9% increase over the same period. Return on equity (ROE) was 26.1% and return on assets (ROA) reached 2.1%, both higher than the previous year.

This year, shareholders are receiving dividends of up to 30%. The bank has paid a 10% cash dividend and plans a 20% stock dividend in the third quarter.

HDBank's total assets exceeded VND 624 trillion (US$24.7 billion), a 29% increase from last year. Total funding mobilization reached over VND 552 trillion (US$21.9 billion), with deposits from digital banking channels nearly five times higher than the same period last year.

HDBank published its first Sustainability Report in 2024, demonstrating its commitment to sustainable development and the goal of Net Zero Bank by 2050. The bank was also listed among the TOP 500 largest enterprises in Southeast Asia by Fortune magazine.