- Green Growth
- Your Consultant
|HDBank is looking back on a very successful first quarter|
HDBank achieved positive business results in the first quarter of 2021. Specifically, consolidated pre-tax profit reached more than VND2 trillion ($86.96 million), an increase of 67.8 per cent compared to the first quarter of 2020, of which standalone profit was more than VND1.81 trillion ($78.7 million), nearly two times the VND964 billion ($41.9 million) in the first quarter of 2020.
Return on equity (ROE) was over 26 per cent, higher than the 19.2 per cent level in the same period last year. Return on assets (ROA) also increased sharply, reaching over 2 per cent compared to the 1.7 per cent in the first quarter of 2020.
As of March 31, outstanding loans were around VND198 trillion (8.6 billion), up 5.2 per cent compared to December 31, 2020. The bank continues to develop traditional customer segments, with high return and well-controlled risks such as agricultural loans, business households and individuals, small- and medium-sized enterprises in the supply chain. Asset quality was well controlled, with performance among the best in the industry. Capital adequacy ratio (CAR – Basel II) reached 12 per cent.
Accompanying customers to achieve the dual goal of fighting the pandemic while developing the economy, HDBank continues to deploy programmes with low interest rates from only 3 per cent per annum to support individuals and micro-enterprises. The bank has also waived many types of transaction fees to support customers.
In parallel with high credit growth, banking services also made a major breakthrough. Net service income in the first quarter was nearly two times higher than in the first quarter of 2020. This is the third consecutive quarter that the net service income has attained an impressive growth rate, validating the huge room for development of HDBank’s service segment.
HDBank is one of the few banks that have not signed an exclusive bancassurance cooperation agreement, so the room to develop bancassurance, credit cards, and other service products remains large in 2021 and the coming years.