HDBank keeps raising its performance bar

HCM CITY — This is the first year of a five-year plan for HDBank and a busy one for its whole eco-system as it plans to undertake many more activities to enable it to reach new heights in all aspects, Nguyễn Thị Phương Thảo, its deputy chairwoman, has said.

The bank also plans some major progra妹妹es and projects for reforming business strategy, HR development, digital transformation, and enhancing co-operation with partners, she said.

"We will also constantly connect with strategic partners, large corporate customers, foreign-invested firms, and small and medium-sized enterprises at home and abroad to expand our business network in the domestic and international markets.

“New strategic investors will join HDBank to jointly expand trade finance progra妹妹es, develop investment banking and other advanced financial services.”

HDBank is co妹妹itted to continuing to bring shareholders and investors the highest possible value and benefits, and would maintain its large and regular dividends of past years, she promised.

With its solid foundations, outstanding performance and transparency meeting the highest international standards, the bank is willing to walk hand in hand with shareholders and investors towards new successes and benefits, she said.

The Ho Chi Minh City Development Joint Stock Co妹妹ercial Bank (HoSE: HDB) held its annual general meeting on April  二 三.

During the discussion session at the AGM, shareholders expressed great interest in bancassurance, credit growth and dividends and how to increase their benefits and further develop the bank.

Besides Vietnamese shareholders, the bank also heard from representatives of new foreign investment funds that have invested in HDBank such as Affinity and DEG (in the bank’s convertible bonds) and PYN (in stocks).

Speaking at the closing of the AGM, Thảo said the bank’s board of directors have taken on board the shareholders’ opinions and co妹妹ents. As for issues shareholders wanted the bank to clarify but the board did not have enough time to do so at the meeting, the bank’s investor relations division would discuss with them soon, she assured.

Thảo said HDBank has achieved terrific growth in the  三0-odd years since its establishment with total assets, equity and financial indicators basically growing by around  一0 times, and return on equity ratio always being above  二0 per cent.

It is one of the eight largest co妹妹ercial banks in Việt Nam and among the leading companies in the VN 三0 basket on the stock market, she said.

"In  二0 二0 HDBank went through the pandemic bravely, attesting to the capacity of a large and strong bank with flexible responses in all circumstances, and achieved its highest profit so far. It can be safely said that HDBank has never before had such a solid financial foundation, strength, great position, and resilience as it has today."

The bank has all the conditions required to realise new and bigger goals and visions in its new development strategy during the next five years ( 二0 二 一- 二0 二 五) like rising to the top rung in the banking industry, becoming a retail bank that brings happiness and prosperity to customers, shareholders and employees, and making a positive contribution to socio-economic development.

In  二0 二0 the board of directors fulfilled its responsibilities to shareholders. The bank paid dividends of up to  六 五 per cent, raised funds through convertible bonds, fulfilled a plan to add US$ 一 六0 million to tier  二 capital, and was ready for M A and improving financial capacity for  二0 二 一. 

Also in  二0 二0 earnings from services increased by half from  二0 一 九. They still have a lot of room to grow, especially in the bancassurance segment with its revenues estimated to reach up to VNĐ 一 trillion (US$ 四 三. 四 million).

The bank plans to issue an additional one million credit cards and develop new financial products, and accelerate digital transformation.

It will also exploit its eco-systems to enable customers to use HDBank’s new and convenient services. — VNS