{"id":388,"date":"2024-04-30T13:56:35","date_gmt":"2024-04-30T06:56:35","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=388"},"modified":"2024-04-30T13:56:35","modified_gmt":"2024-04-30T06:56:35","slug":"hdbank-targets-high-growth-in-2024-625-5m-profits-30-dividend-2","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=388","title":{"rendered":"HDBank targets high growth in 2024: $625.5m profits, 30% dividend"},"content":{"rendered":"<p>HCM CITY, VIETNAM &#8211;  <a href=\"https:\/\/www.media-outreach.com\/\">Media OutReach Newswire<\/a> &#8211; 30 April 2024 &#8211; The H\u1ed3 Ch\u00ed Minh City Development Joint Stock Commercial Bank (<a href=\"https:\/\/hdbank.com.vn\/%20\">HDBank, stock code: HDB<\/a>) has announced an ambitious pre-tax profit target of VND15.85 trillion (US$625.5 million) for 2024, a 22% increase from the previous year, at its annual general meeting on Friday, April 26. <\/p>\n<p> Customers conduct transactions at an HDBank branch in HCM City. Photo courtesy of HDBank. <\/p>\n<p> One of the key factors driving growth is the lender&#8217;s focus on maintaining profitability ratios such as ROA and ROE. <\/p>\n<p> In 2024 the bank remains on track for high growth while continuing improving its comprehensive environmental, social and governance (ESG) strategy. <\/p>\n<p> The bank is projecting total assets to exceed VND700 trillion (US$27.6 billion) this year, up 16% from 2023. <\/p>\n<p> Total deposits are expected to reach VND624 trillion (US$24.6 billion), up 16%. <\/p>\n<p> Loans outstanding are projected to exceed VND438 trillion (US$17.28 billion) in line with the credit growth quota allocated by the central bank. <\/p>\n<p> This year the bank plans to increase its charter capital by 5% to VND29.1 trillion ($1.15 billion) by issuing shares. <\/p>\n<p> In 2023, it has managed to ensure a low bad debts ratio of 1.5% and achieve a capital adequacy ratio (CAR) of 12.6%, among the highest in the industry. <\/p>\n<p> The annual general meeting also agreed to increase the dividend payment rate in 2023 to 30% from 25% with a maximum of 10% in cash, based on the business results it achieved. <\/p>\n<p> In 2023, profit before tax topped VND13 trillion (US$613 million), up 26.8 % from 2022. HDBank achieved an ROA of 2% and an ROE of 24.2%, placing it among the top banks in the industry. <\/p>\n<p> In the first quarter of 2024, HDBank continued to achieve significant pre-tax profits, which topped VND4 trillion (US$157.8 million), a 43.6% jump year-on-year. Its ROE was 26.2%, credit growth was 6.2% and bad debts were controlled at 1.68% in the first quarter. Its CAR based on Basel II standards exceeded 13.7% in the period. <\/p>\n<p> <a href=\"https:\/\/hdbank.com.vn\/%20\"> HDBank<\/a> has consistently delivered for its shareholders, and this year is no exception as it plans to pay a dividend of 30%, with a maximum of 15% in cash and the rest in stocks. <\/p>\n<p>Hashtag: #HDBank<\/p>\n<p>The issuer is solely responsible for the content of this announcement.<\/p>","protected":false},"excerpt":{"rendered":"<p>HCM CITY, VIETNAM &#8211; Media OutReach Newswire &#038;#821 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2,4],"tags":[],"class_list":["post-388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media-outreach-newswire","category-media-outreach-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=388"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/388\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}