HDBank targets VND13.2 trillion profits for 2023

The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has approved a number of targets, plans and proposals, including a target of VND13.2 trillion (USD562.67 million) in profit for 2023, a growth of 29 per cent on-year. After more than 30 years of development, HDBank is always committed to bringing the highest benefits to customers, partners and employees, and will continue with its spirit of "SUSTAINABLE DEVELOPMENT - STRIVING FOR THE LEADING POSITION".

HDBank continues this year to pursue its sustainable development orientation in its corporate governance, creating sustainable assets for society, bringing values to local and foreign partners and investors, and creating a professional working environment with excellent remuneration for its employees.

Last year marked the 10th anniversary of the bank's innovation progress and five years since its IPO.

Its unceasing efforts over the years have brought HDBank significant achievements with its total assets exceeding VND416 trillion (USD18 billion) at the end of 2022, total deposits topping VND366 (USD15.6 billion) trillion and total credit being nearly VND268 trillion (USD11.4 billion).

Speaking at the Annual General Meeting, Pham Quoc Thanh, CEO of HDBank, said the Bank always focuses on risk management, constantly strengthening its systems and processes and using technology to monitor, forecast and promptly identify risks.

With the positive business results of 2022, shareholders have approved dividends distribution of 10% in cash and 15% in shares for 2022.

At the meeting, the Chairman of Board of Directors – Independent BOD Member, Mr. Kim Byoung-ho said: "The macroeconomic landscape of the world and Viet Nam have brought significant challenges to Viet Nam but also provided great opportunities for those who have the know-how. By taking the initiative and being flexible in a volatile period, HDBank last year achieved strong yet sustainable growth. We ensured the prudent and asset quality ratios were well-managed within safe levels, and the growth of both credit and deposits topped the industry."


Amid the global financial crisis and increased uncertainty this year, HDBank continues to pursue its sustainable development orientation and strategy to become a leader in retail, SME (small and medium-sized enterprises) and consumer banking, creating sustainable assets for itself and for society.

The bank will provide more products and services targeting industries and sectors that are key contributors to economic growth such as agriculture and rural development, green financing, manufacturing and trading, renewable energy, waste treatment, and recycling besides focusing on retaining its leading position in supply chain financing.

It will continue to offer preferential loans to those affected by the pandemic and workers and for digitisation of business and operations, and others.

HDBank this year continues to proceed the plan to participate in the restructuring of weak credit institution and buy stakes in a securities company to complete its product and services portfolio.