Customers conduct transactions at an HDBank branch in HCM City. — Photo courtesy of HDBank

HCM CITY — Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank, sticker: HDB) successfully hosted its Investor Conference on February 20 to announce its business results for 2024 and provide insights into economic outlook for 2025.

At the conference, HDBank’s leadership highly appreciated the economic prospects for 2025, affirming the bank’s fundamental advantages and vast growth potential.

HDBank said it remains focused on accelerating digital business, tapping into the potential of tier-2 urban markets, rural agriculture, and value chains, while also participating in national strategic infrastructure projects, aiming for profit growth of at least 25 per cent.

HDBank achieved robust growth last year, with profit before tax exceeding VNĐ16.7 trillion (US$655.2 million), a 28.5 per cent increase from the preceding year.

The bank’s return on assets (ROA) and return on equity (ROE) reached 2 per cent and 25.7 per cent, respectively, solidifying its position among the top banks in the sector. The consolidated non-performing loan (NPL) ratio, in accordance with the State Bank of Vietnam’s Circular 11, was effectively controlled at 1.48 per cent. Meanwhile, the capital adequacy ratio (CAR) according to Basel II standards reached 14 per cent.

As of December 31, 2024, HDBank's total assets reached over VNĐ697.2 trillion ($27.2 billion), up 15.8 per cent compared to 2023.

Total funding mobilisation was VNĐ621 trillion, a year-on-year increase of 15.7 per cent, with deposits from economic organisations and individuals rising by 18 per cent. Total outstanding loans rose by 24 per cent to VNĐ437 trillion.

HD SAISON, HDBank’s subsidiary, achieved VNĐ1.2 trillion ($47 million) in profit, an increase of 84 per cent for the year, solidifying its leading position in the consumer finance market. Given the positive market outlook, HD SAISON aims to reach a profit of VNĐ1.5 trillion ($58.7 million) in 2025.

Also at the conference, HDBank’s leadership informed investors that it targets to achieve 25 per cent profit growth in 2025, striving to join the group of banks with profits exceeding VNĐ20 trillion ($784.6 million).

The lender will focus on maintaining key profitability ratios such as ROE and ROA at top positions in the market.

The driving force behind HDBank’s goal of extending its 12 consecutive years of high growth comes from its lending strategy focused on tier-2 urban areas, rural agriculture, SMEs, households, and potential value chains, as well as participating in national infrastructure and strategic projects. These efforts align with the Government's commitment to boosting GDP growth above 8 per cent.

This year, HDBank will accelerate digitalisation, expand its scale, and attract new customers. The bank will continue to invest in technology, which it identifies as a core driver to enhance customer experience, optimise operations, and unlock opportunities for sustainable growth.

In 2024, the bank recorded an increase of nearly 75 per cent in digital transactions, while the number of new customers grew by 187 per cent. Currently, over 97 per cent of the bank's individual transactions are conducted on digital platforms.

HDBank will continue leveraging AI and Big Data in risk management to enhance credit quality, and maintain its non-performing loan ratio among the lowest in the market.

Transforming DongA Bank into Vikki Digital Bank, a strategic step in the bank's restructuring

A consultant assists a customer to carry out financial transactions on the Vikki Digital Bank app. — Photo courtesy of HDBank

During discussions with investors at the conference, HDBank’s leadership provided updates on its plan to transform DongA Bank into Vikki Digital Bank.

Implementing the Government's and the State Bank of Vietnam's direction to restructure the banking system, just one month after receiving the transfer of DongA Bank, HDBank has swiftly completed the management and operation apparatus and officially transformed DongA Bank into Vikki Digital Bank, which ushers in a new chapter in the careers of more than 4,000 dedicated and diligent employees with a modern, friendly and comfortable image.

Vikki Digital Bank simultaneously opened its branches nationwide on February 17 with all of them sporting a brand-new look.

It is the first new-generation digital bank in Việt Nam that seamlessly integrates a cutting-edge super app with an extensive network of branches and transaction offices.

Vikki Digital Bank offers a wide range of banking, financial, investment, insurance, travel, and shopping services, delivering a seamless, safe and secure experience in line with international standards.

Welcoming customers to its new transaction spaces and brand identity, Vikki Digital Bank offered special promotions for existing and new customers on its opening day.

A large number of customers enthusiastically welcomed the new-generation multifunctional digital banking services and smart financial utilities that Vikki Digital Bank offers to businesses and individuals.

All rights and benefits of DongA Bank’s customers are fully protected.

This strategic transformation also marks another significant milestone in restructuring process of the commercial banking system towards achieving sustainable, modern, and healthy development. — VNS