HDBank’s Q1 profit reached 2,528 billion, up 20.3% over the same period

As of March 31, 2022, the bank’s total capital mobilization reached over VND 340 trillion. Consolidated credit balance reached over VND 234 trillion, up 9.8% compared to December 31, 2021 with growth momentum coming from all major business segments, including retail, small and medium-sized enterprises. (SME) and consumer finance.

The Bank gives priority to providing credit in the fields of agriculture and rural areas, export enterprises, supply and distribution chains, households with loans for production and business, green credit programs, renewable energy development, etc. create and operate environmentally friendly production.

Simultaneously, HDBank continues to implement credit programs with preferential interest rates applied to micro enterprises and individual customers, exempting and reducing many types of service fees to support customers to restore production and business. business.

With exciting business programs right from the first quarter of the year, HDBank recorded a total consolidated operating income of VND 5,122 billion, up 22.9% over the same period.

In which, net income from services increased by over 94% with the main contribution from the insurance business through banking and payment services, showing that there is still plenty of room for growth. Return on equity (ROE) and return on assets (ROA) targets were 25.4% and 2.1% respectively. Capital adequacy, guaranteed liquidity with quality index.

Individual bad debt is only 1.17%, a low rate in the industry. Capital adequacy ratio CAR (Basel II) is over 14.2%. Optimized operating costs helped the cost/total income (CIR) ratio reach 37.6%, better than 39.1% in the first quarter of 2021, clearly showing the effectiveness of automation programs and digitize operations.

At the recent General Meeting of Shareholders of HDBank, the bank approved the business plan for 2022 with high growth targets in both scale and quality.

Specifically, total assets of 440,439 billion VND, an increase of 18% compared to 2021; capital mobilization reached VND 392,683 billion, up 17%; credit balance is expected to reach 256,060 billion dong, up 20%; pre-tax profit was nearly 10,000 billion dong, up 21%. Profitability ratios ROA and ROE will continue to be kept high, 1.9% and above 22.2%, respectively. The individual bad debt ratio is less than 1.5%.