HDBank charts best-ever profits of $524m in 2023

The bank’s profits have grown at a rate of 49.1% over the past decade.

The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) reported a pre-tax profit of US$524m (VND13t) for 2023– a 26.8% increase from a year earlier, and reportedly its best-ever results.

In a press release, HDBank said that the compound annual growth rate of its profits for the past 10 years is 49.1%.

Total assets are $24.3b (VND602t) as of end-2023, a 44.7% rise from a year earlier. This was driven by profits rising 46.5% to $21.6b (VND537t) during the year, and consolidated credit balance jumping 31.8% to $14.2b (VND353t) over the same period.

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Profitability ratio is 2%, whilst ROE is 24.2%, both higher than in 2022.

Capital adequacy ratio (CAR) is 12.6%, equal to 150% of the ratio stipulated for the banking industry under Basel II norms.

HDBank’s non-performing loan ratio is only 1.5%, the bank said in a press release.

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Ho Chi Minh City Development JSC Bank

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