HDBank keeps raising its performance bar

HO CHI MINH CITY, VIETNAM - Media OutReach - 28 April 2021 - 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, Nguyen Thi Phuong Thao, HDBank's deputy chairwoman, has said.

Speaking at the AGM which was held on April 23, Thao also said that the Bank also plans some major programmes and projects for reforming business strategy, HR development, digital transformation, and enhancing co-operation with partners.

"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 programmes, develop investment banking and other advanced financial services."

HDBank is committed 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.

Thao said HDBank has achieved terrific growth in the 30-odd years since its establishment with total assets, equity and financial indicators basically growing by around 10 times, and return on equity ratio always being above 20 per cent.

It is one of the eight largest commercial banks in Vietnam and among the leading companies in the VN30 basket on the stock market, she said.

"In 2020 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 (2021-2025).

In 2020 the bank paid dividends of up to 65 per cent, raised funds through convertible bonds, fulfilled a plan to add US$160 million to tier 2 capital, and was ready for M&A for 2021.