HDBank reported profits before tax of VNĐ5.35 trillion (US$205.8 million) in the first quarter. — Photo courtesy of HDBank

HCM CITY — Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank, stock code: HDB) has released its financial statements for the first quarter of 2025, revealing a solid performance and reaffirming its status as one of the country’s most efficient banks.

Notably, this quarter marked the initiation of HDBank's modern, universal, and sustainable financial banking group model, a strategic imperative for its 2025-2030 development.

HDBank reported profits before tax of VNĐ5.35 trillion (US$205.8 million), a 33 per cent increase from the same period last year.

Return on equity (ROE) continued to be at a high level of 29.62 per cent, placing it among the sector’s leading players.

The consolidated total operating income was VNĐ9.2 trillion ($353.9 million), demonstrating sustainable growth fueled by strong core operations and the ongoing success of its digital business performances.

As of March 31, 2025, HDBank's total assets reached VNĐ711.3 trillion ($27.36 billion), marking an 18 per cent increase.

Deposits reached VNĐ465.3 trillion, a 22.8 per cent increase, demonstrating strong customer confidence and the bank's strong market position.

The total outstanding loans reached VNĐ449.9 trillion, a 19.9 per cent incrase, strategically directed towards key economic sectors including agriculture, SMEs, supply chain finance, tier 2 cities, and rural agricultural areas.

The capital adequacy ratio (CAR) according to Basel II standards was over 14.9 per cent, among the higher rates in the sector.

HDBank continued to accelerate the diversification of its income structure towards sustainability, increasing the proportion of non-interest income, especially from financial services, non-credit services and investment.

This demonstrates that the strategy of intergrating financial technology and a sustainable business model is yielding clear results.

HDBank further advances its strategy of income diversification to enhance sustainability, evidenced by the increasing share of non-interest income derived primarily from financial services, non-credit activities and investments.

This underscores the effectiveness of its strategy to integrate technology within a sustainable business framework.

Accelerating digitalisation, strategic pillar in 2025-30

HDBank's digital business operations sustained robust growth in Q1. — Photo courtesy of HDBank

During the first quarter HDBank's digital business operations sustained robust growth: the number of individual customers rose by 38 per cent and financial transactions conducted via digital platforms grew by 55 per cent YoY.

Accelerating digitalisation is also a driving force for HDBank to further optimise operations, reducing the cost-to-income ratio (CIR) to 27.4 per cent while enhancing the customer experience and personalising the customer journey.

HD SAISON Finance Company, a subsidiary of HDBank, sustained its leading position in the market, delivering profits before tax of VNĐ306 billion in the first quarter, an 18.4 per cent YoY increase, and the most successful Q1 in the last few years.

This quarter marked a major milestone for HDBank with the successful receival and restructuring of DongA Bank, resulting in the official transformation of  Vikki Digital Bank – a next-generation digital bank catering to highly digitalised customers.

Vikki Digital Bank holds a strategic position in the modern and universal financial banking model, encompassing commercial banking, consumer finance, investment banking, insurance, fund management, and digital platforms.

This integrated model harnesses technological strength, a widespread network and comprehensive financial solutions to effectively serve over 30 million existing and potential customers.

With positive growth results and a sustainable development strategy, HDBank continues to be recognised and highly appreciated by reputable organisations.

The Asian Banker recently recognised HDBank as the "Best Financial Service Provider for SMEs in Vietnam," while the 2025 Sao Khuê Awards acknowledged its technological advancements with pioneering digital solutions such as eCASH cash collection service and smart medical kiosks - innovative digital solutions closely linked to customer experience and community value. — VNS