HDBank achieves excellent results in the first half, with its profit up 44.2 percent, NPL ratio at only 0.8 percent. (Photo courtesy of the bank) Accordingto its consolidated financial statements for the second quarter of 2021, totalassets as of June 30 were worth 331 trillion VND (14.5 billion USD) and outstandingcredit balance was more than 199.16 trillion VND (8.74 billion USD), up 5.8 percentfrom the same period last year.
Thenon-performing loans ratio of the parent bank was just 0.8 percent, among thelowest in the banking sector.
Totaloperating income in the second quarter was 4.25 trillion VND, which took thefigure for the first half to over 8.42 trillion VND, up 32.7 percentyear-on-year.
Netrevenues from services topped 857 billion VND, 2.3 times up thanks to thestrong growth in bancassurance and payment services, indicating there is stillmuch room for growth in these areas.
Governanceefficiency and profitability were enhanced, resulting in a sharp increase inreturn on average equity (ROAE) from 21.6 per to 25.6 percent.
Returnon assets (ROA) increased from 2 percent to 2.1 percent. The cost to operatingincome ratio improved to 39.4 percent.
Capitaladequacy ratio (CAR) and liquidity were maintained at high levels, with CAR(according to Basel II) at 13.2 percent and loan-to-deposit ratio (LDR) at 68 percent.
HDBankwas among the first in the industry to achieve Basel III norms and resort tocredit rating. Moody's Investors Service recently upgraded the outlook onits long-term deposit and issuer ratings from stable to positive.
Withits practice of paying regular and high dividends, for 2020 HDBank is set topay at a rate of 25 percent in shares. It has announced August 27 will be therecord date for the dividends.
Joininghands with community to combat pandemic
Tolend a hand to the community in coping with the COVID-19 pandemic, since July15 the bank has cut its lending interest rates by 1 percentage point on averagefor loans to priority sectors and industries and localities directly affectedby the outbreak.
Italso continues to implement preferential lending programmes with interest ratescut by up to 4.5 percentage points.
HDBankis one of the pioneers in implementing digital transformation and automation,using online customer information verification (eKYC), promoting non-cashpayments, improving the convenience of digital transaction channels, and so onto help improve efficiency and the customer experience and reduce face-to-facecontact.
Withits excellent results in the first half, HDBank is confident of even exceedingits full-year targets, creating momentum for the new growth phase under astrategy it has created on the advice of foreign consultants./.
VNA
