HCM CITY, VIETNAM –
Media OutReach Newswire – 15 April 2024 – The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank, stock code: HDB) will pay a dividend of 25%, 10% in cash and 15% in stocks, for 2023, according to documents to be tabled at its 2024 annual general meeting released on April 4.
HDBank will pay a dividend of 25%, 10% in cash and 15% in stocks, for 2023. — Photo courtesy of HDBank
HDBank, which has gone through a 10-year journey of reform, maintained its high and steady growth in 2023.
Its profitability ratios, ROA was 2% and ROE was and 24.2% last year, keeping it among the group of leading banks.
This year the bank targets pre-tax profits of VND15.85 trillion (US$634.13 million), an increase of 21.8% from 2023, ROE of 24.6% and maintaining its non-performing loans ratio at among the lowest levels in the industry.
Total assets are set to exceed VND700 trillion ($28 billion) this year, an increase of 16% from 2023.
Total fundings are expected to reach VND624 trillion ($25 billion), up 16%.
Loans outstanding are projected to cross VND438 trillion ($17.5 billion) in line with the credit growth target allocated by the State Bank of Vietnam.
Notably, it plans to pay 30% in cash and stocks for 2024.
This year the bank plans to increase its charter capital by over VND4.56 trillion ($182.88 million) to VND33.65 trillion ($1.34 billion) from the current VND29.1 trillion ($1.16 billion) by issuing shares to pay dividends, further consolidating its financial health indicators, which are already among the best in the industry, and solidifying the strategic foundation for its sustainable development in future.
HDBank is a pioneer in embracing a comprehensive ESG strategy, publishing an ESG report and proactively implementing corporate social responsibility, while enhancing digital banking development plans towards modern retail banking.
HDBank has steadily improved its management capacity and adopted advanced international management standards such as Basel III.
The bank’s better than expected results in 2023 mean good news for shareholders at the AGM that will be held online on April 26.
The bank is confident to accomplish the targets for 2024 (stated in the AGM documents) when the economy remains uncertain.
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The issuer is solely responsible for the content of this announcement.
