HDBank Sets Ambitious Financial Goals for 2024

In a recent announcement at its annual general meeting, HDBank disclosed its financial targets for 2024, aiming for a pre-tax profit of $625.5 million, marking a substantial 22% increase from the year prior. This target supports the bank’s plan to continue its trend of high growth, focusing on robust environmental, social, and governance strategies.

The bank also intends to escalate its total assets by 16% to approximately $27.6 billion, with an expected increase in total deposits and loans reaching $24.6 billion and $17.28 billion, respectively. Further, HDBank plans a 5% increase in its charter capital to $1.15 billion through share issuance, highlighting its financial growth strategy.

In recognition of last year’s performance, where profit before tax reached $613 million, HDBank will raise its dividend payment rate to 30%, a 5% increase from the previous year, with a mix of cash and stock payouts.

With these goals, HDBank continues to assert its position in the financial market, demonstrated by a first-quarter pre-tax profit in 2024 of $157.8 million, up 43.6% year-on-year, alongside a controlled bad debts ratio and significant capital adequacy ratio improvements.