Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank, HoSE: HDB) has just released its annual report (Annual report) for 2020 with the theme “Happy Digital Bank”, emphasizing the strategy of digital development throughout 2021 and recognizing strong growth of business targets.
|HDBank was one of the first banks to early complete all three pillars of risk management according to Basel II standards.|
In 2020, HDBank marked the first year of the 5-year plan 2020-2025 with the excellent completion of targets and tasks and achieving the best results ever.
According to the report in the Annual Report of 2020, as of December 31, 2020, HDBank had total consolidated assets of VND 319,127 billion, an increase of 39.1% compared to 2019 and completing 104.5% of the plan. Capital mobilization from economic organizations and individuals reached VND 208,953 billion, up 38.4% and completed 111% of the plan. Credit balance reached 188,228 billion, up 23%, completing 105.8% of the plan. Profit before tax reached VND 5,818 billion, an increase of 15.9% and completed 102.8% of the plan for 2020. Return on equity (ROE) and rate of return on assets (ROA) reached 20.6% and 1.7%, respectively. HDBank has increased its charter capital from 9,810 billion to more than 16,088 billion through dividends and bonus shares with a total rate of 65%, the highest level in the industry.
The ratio of bad debts / loans to customers at the parent bank reached 0.93%, belonging to the group of banks with the lowest bad debt ratio. HDBank was one of the first banks to early complete all three pillars of risk management according to Basel II standards. Credit rating agency Moody’s recently continued to give HDBank B1 ratings with stable prospects.
Accompanying the economy, in 2020, HDBank spent VND 34,000 billion in concessional loans, extended the time for debt repayment, loan interest exemption or reduction to support customers affected by the Covid-19 epidemic.
In a year when the economy and people’s lives are in difficulties, HDBank continues to enhance the humanities culture of enterprises through volunteer programs throughout the country, sharing difficulties with unfortunate circumstances with meaningful physical and spiritual support.
Integrating the digital era with flexibility and flexibility to adapt to the difficult business environment of the epidemic season, in 2020, HDBank will implement a powerful digital transformation strategy across operations and business operations. The digitalization strategy has made an important contribution to promoting the business results of HDBank and contributed to enhancing the bank’s position and competitiveness. Typically HDBank Happy Digital Bank with the application “Di HDBank” has helped customers perform financial transactions anytime, anywhere, civilized and convenient. Along with that, HDBank has pioneered online customer information authentication (eKYC) and is the first Vietnamese commercial bank to issue and provide payment and credit guarantee services (L / C) based on blockchain technology.
With a willingness to make a further breakthrough in the digital transformation, HDBank will build and firmly consolidate platforms and update new technologies optimally. In particular, digitization throughout the process is one of the driving forces to drive revenue and cost optimization on the customer-centric motto. This is also the basis and launch pad for the bank to aim to achieve high goals and foresight in the coming journey.
By the end of the first quarter, HDBank maintained strong growth momentum with positive pre-tax profit, exceeding VND 2,100 billion, up more than 68% compared to the first quarter of 2020.
With the goal of 2021 and the following years, HDBank Happy DigitalBank, a modern and happy digital bank of HDBank, is oriented to continue to grow for the happiness of customers, employees and social community.
Source: ndh.vn – Translated by fintel.vn