In the first half of 2023, HDBank flexibly reduced lending interest rates on over $2.69 billion of outstanding loans, closely following the direction of the State Bank of Vietnam (SBV).
The bank also restructures the repayment period to support customers' efforts to overcome difficulties and recover post-pandemic. Its subsidiary, HD Saison, promoted a preferential loan package of $421.3 million for workers and employees.
As of June 30, 2023, HDBank’s total assets stood at $20.39 billion, up 26 per cent on-year. Total funds mobilisation reached $18.1 billion, up 17.4 per cent from the beginning of the year. Among them, deposits from customers were worth $13 billion, up 44 per cent from on-year. Total outstanding loans topped $12.3 billion, up 9.3 per cent against the beginning of the year.
The indicators post high growth in line with the bank's strategy to focus on key sectors such as agricultural and rural development, small- and medium-sized enterprises (SMEs), small business households, and supply chains. HDBank has clearly identified the strategy of "Sustainable development - Pioneering to take the lead" at its general meeting of shareholders at the beginning of this year.
In the first six months of 2023, the number of HDBank's customers using digital channels climbed nearly 70 per cent on-year. The number and value of transactions on digital platforms went up by 116 per cent and 132 per cent, respectively.
As of June 30, 2023, HDBank's costs to income ratio continues to be optimised to be in the low group in the market, falling to 34.77 per cent from last year's 36.98 per cent.
In the first half of 2023, HDBank continues its growth trajectory for 10 consecutive years, with a pre-tax profit of $238.48 million. HDBank’s return on equity ratio stood at 22.01 per cent, maintaining its position as the leading commercial bank in the country.
These continue to be HDBank's best results ever, as well as leading growth rates in the market. In particular, the growth rate of capital mobilisation reached a high level, continuing to affirm the prestige, brand, and trust of customers in the process of operation.
Ample room for development
Actively implementing Basel III standards since 2019, the bank has so far completed the full application of Basel III, the highest international risk management standards in Vietnam today. As of June 30, 2023, HDBank's operational safety indicators were significantly better compared to the regulations of the SBV.
The CAR is 50 per cent higher than the minimum requirement of 8 per cent. The short-term capital for medium- and long-term loans was at 11.2 per cent, which is one-third of the 34 per cent cap.
Kim Byoungho, chairman of HDBank said, "Overcoming many unprecedented challenges, HDBank's results in the first six months of 2023 once again affirm the strategy and goals the shareholder meeting has determined are in the right direction".
"HDBank continues to pursue its sustainable development strategy, its focus on retail banking and digitization in association with efforts to enhance customer experience and value, and its direction of providing more products and services targeting the agricultural and rural development sector, individual customers, households, SMEs, and value chains".
Along with its vibrant business performance, HDBank also undertook over 20 social activities across the country, like donating essential items to people living in mountainous areas for Lunar New Year, funding eye surgeries for poor people, donating houses, and sponsoring sports activities.
HDBank won a number of international prestigious awards for its outstanding achievements in the first half of the year, including the Excellent International Straight-Through Payment Award from CitiBank, the Special Recognition Award - Crystal Trophy from the US-based Wells Fargo Bank for international payments, and The Asset Triple A Awards for Best bank for sustainable finance from The Asset magazine.