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HDBank's real estate bad debt ratio is very low.

Báo Quân đội Nhân dânBáo Quân đội Nhân dân10/05/2023


In the first quarter of 2023, HDBank will continue to adhere to its sustainable development strategy, promoting products and services towards comprehensive financial development, especially in the secondary urban and rural markets. The bank aims for safe and effective credit growth and fully applies Basel II standards, so it finds many opportunities for sustainable development in the face of challenges.

Reporting at the conference, Mr. Hoang Thanh Tung, Director of Investor Relations Department, said that in the first quarter of 2023, most of HDBank's business indicators grew positively. Most impressively, total deposits increased by 17.7% compared to the end of 2022, consolidated credit balance increased by 9% to VND 292 trillion, and outstanding loans at the parent bank increased by more than 10%. This growth rate is much higher than the overall growth of the industry (just under 3%).

With high growth rates in deposits and outstanding loans, HDBank recorded total operating income of VND5,657 billion in the first quarter, up 10.4% over the same period, the growth momentum coming from both interest and service revenue.

HDBank's pre-tax profit in the first quarter of 2023 reached VND2,743 billion, up 8.5% over the same period last year. Notably, the bank still maintains high capital adequacy ratios, bad debt, and profitability ratios in the industry. HDBank's capital adequacy ratio (CAR) according to Basel II standards reached 12.5%, of which the Tier 1 capital adequacy ratio reached 10%. The consolidated bad debt ratio was 1.8% and the individual bad debt ratio was 1.5%, lower than the industry-wide bad debt ratio (about 2.9% by the end of February 2023). Operating expenses were effectively managed, with the cost/income ratio at 34.6%, a sharp improvement from 39.3% at the end of 2022.

In addition to sustainable business results, HDBank has actively promoted digital transformation initiatives that have been implemented over recent years, thereby "hitting" two goals: reducing costs and stimulating customers to use products. The total transaction value on HDBank's digital channels increased sharply by 142% over the same period, reaching over VND 277 trillion, contributing positively to the outstanding business results of the first quarter of 2023.

In addition to digital channels, the Bank continues to increase its coverage. As of March 31, 2023, HDBank has 347 branches and transaction offices, over 16,300 employees serving over 15 million customers.

BINH NGUYEN



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