HDBank exceeded 111% of the whole year profit plan

The financial indicators in HDBank’s 2021 audited financial statements have not changed compared to the previous self-made bank report. According to the financial report, HDBank achieved a pre-tax profit of VND 8,070 billion, up 39% compared to 2020 and completing 111% of the plan. Total operating income exceeded VND 16,758 billion, up 22% over the same period last year, of which service income increased sharply by 103%, coming from the insurance and payment services segments.

Through digital transformation, digitization of customer journeys and process automation, HDBank has significantly reduced operational and capital costs. Performance indicators such as ROE and ROA reached 23.3% and 1.9%, respectively, higher than the previous year (these indicators in 2020 are 18.9% and 1.6%), respectively.
Total consolidated assets reached more than VND 374,000 billion, up 17% over the same period last year. Capital safety and liquidity are guaranteed. The ratio of individual bad debts to total outstanding loans is about 1.26%, low compared to the industry. The bank has increased the provision of 100% of provisions for debt restructuring due to the Covid-19 epidemic, 2 years ahead of schedule. Equity reached 30,790 billion, up 25%, helping the capital adequacy ratio CAR (Basel II standard) reach over 14.3%. Other liquidity ratios are better than those prescribed by the State Bank. Credit rating agency Moody’s has raised the credit outlook of HDBank from stable to positive.
In 2020 and 2021, this bank has successfully issued USD 325 million of international bonds to reputable investors including IFC, DEG (Germany), Affinity Equity Partners and Leapfrog Investments (UK) to increase equity. secondary level, helping to further improve capital capacity. In parallel with investment cooperation, partners and HDBank have implemented programs to improve governance capacity, digital transformation, and green credit expansion.
According to HDBank’s representative, the above positive results are the result of comprehensive innovation accelerated to be implemented in 2021 – the first year of the new growth period 2021-2025. In addition, last year HDBank also made a mark in implementing its responsibilities to the community when proactively proposing to establish a Covid-19 vaccine fund, organizing a fundraising concert to contribute to mobilizing nearly VND 9,000 billion. The bank also spends hundreds of billions of dong to join hands to support epidemic prevention, take care of the lives of difficult people, support poor patients… Programs to accompany individual customers, small business households and Micro-enterprises have been deployed with a total credit scale of more than VND 49,000 billion. Thereby, HDBank has received the Certificate of Merit from the Prime Minister and many prestigious domestic and international awards.

Tuan Thuy