HDBank Achieves Strong Financial Growth Amid Pandemic Challenges

Ho Chi Minh City Development JSC Bank (HDBank) has reported impressive financial results for the first nine months of 2020, showcasing robust growth and solid performance despite the challenges posed by the COVID-19 pandemic.

HDBank's pre-tax profits soared to VND3.615 trillion (US$155.5 million), marking a substantial 31.9% increase from the previous year. The bank's non-interest income surged by 158% in the third quarter, driven by initiatives to support customers during the pandemic.

The bank's total operating income reached VND2.317 trillion ($99.65 million), with net interest income and service fee income experiencing significant growth. HDBank's consolidated profits rose by 27.1% to VND4.381 trillion ($188.46 million), exceeding its target.

Notably, HDBank's financial health indicators were exceptional, with a capital adequacy ratio of 10.9% surpassing Basel II norms. The bank's focus on enhancing credit programmes, embracing digitization, and effective risk management has been key to its success.

HDBank's innovative 'green credit' initiatives have been well-received, along with its efforts to promote high-tech agriculture, renewable energy, and support small and medium-sized enterprises.

The bank's commitment to digital transformation is evident through its advanced technologies, offering customers enhanced services on mobile and internet banking platforms. HDBank's accolades from international organizations further underscore its position as a leading financial institution in Vietnam.

In conclusion, HDBank's strong performance in 2020 reflects its strategic focus on sustainable growth, digital banking, and customer-centric initiatives. The bank's ability to exceed targets in the first nine months sets a solid foundation for achieving its full-year goals and reinforces its position as a key player in Vietnam's banking sector.