HDBank reports profit before tax of $500m for Q3

Its consumer finance arm HD SAISON grew its loan book by 15%.

Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) reported a profit before tax (PBT) of $500m for Q3 2024, 46.6% year-on-year (YoY) higher than in 2023.

Along with its first half results, HDBank has reached a PBT equivalent to 79.8% of its full-year target, the Vietnam-based bank said in a statement. 

Return on equity (ROE) is 26.7% and return on assets (ROA) is 2.2%.

The bank’s dividend payout is 30% for the year. This includes a 10% cash dividend paid in July. HDBank said that it is finalizing procedures for a 20% stock dividend.

HD SAISON, the consumer finance arm of HDBank, saw its loan book grow by 15% YoY during the quarter.

SAISON’s PBT more than doubled to $35.8m, 126% higher than a year earlier. Its ROE is 22.9%.

As of 30 September 2024, HDBank reported total consolidated assets of $24.8b, reflecting an increase of 23.9% compared to the same period in 2023.

Its outstanding outstanding loan balance is $16b, marking a 16.6% increase since the beginning of 2024.

The non-performing loan ratio as prescribed by the State Bank is only 1.46%, lower than the sector average.