HCM CITY — The HCM City Development Joint Stock Commercial Bank, or HDBank, has announced its audited financial report for 2018 with impressive numbers.

The bank achieved VNĐ4.005 trillion (US$172.6 million) in pre-tax profit, an increase of 65.7 per cent over 2017 and its highest ever so far and exceeding the profit target.

The impressive growth was thanks to a sharp increase in non-interest income, with net profit from fees increasing 2.2 times to VNĐ438 billion ($18.87 million).

Net earnings from foreign exchange trading also more than doubled to VNĐ298 billion.

Net interest earnings were worth VNĐ7.646 trillion ($328.8 million), a year-on-year increase of 20 per cent. Total operating income was VNĐ9.44 trillion, up 25.8 per cent.

As of December 31 HDBank’s outstanding loans were VNĐ129.624 trillion, a year-on-year increase of 17.83 per cent. The bank’s outstanding loans alone were worth VNĐ112.479 trillion, an 18.3 per cent increase, with HDSaison accounting for the rest.

The bank mobilised VNĐ194.634 trillion in deposits. Its total assets topped VNĐ216.057 trillion while owner’s equity reached VNĐ16.828 trillion and return on equity and return on assets were at 20.3 per cent and 1.6 per cent.

As of December 31, the bad debts ratio (according to the State Bank of Vietnam’s Circular 02) of the parent bank continued to be tightly controlled at 0.97 per cent, the lowest level in the banking industry.

HDBank opened five branches and 40 transaction offices last year to increase the total number nation-wide to 285.

The number of consumer financial transaction points increased by 2,323 to 13,825 as HDB retained its leading position in the consumer finance industry in terms of network size.

The large networks help HDBank and HDSaison efficiently serve nearly seven million customers, especially in rural areas.

There were many outstanding achievements last year. For instance, the lender’s stock, which listed last year on the HCM Stock Exchange, code HDB, has become one of the 20 largest in terms of market capitalisation and a favourite among foreign investors.

One year after its listing, HDB has been added to the VN30 Index comprising the top 30 listed companies.

It has been conferred the Labour Award, second class. Moody’s Investors Service has upgraded the long-term local and foreign-currency deposit and issuer ratings for HDBank to B1.

HDBank is one of the largest contributors to HCM City’s revenues.

It won many awards last year, including the 40 Most Valuable Brands in Việt Nam from Forbes, the “Best Companies to Work for in Asia” award from HR Asia, the “Retail Banking Award” from the Việt Nam Banks Association and the International Data Group, and the “Best Cash Management in the Asia-Pacific” award from Euromoney.

HDBank also embraces social and community activities, giving scholarships to thousands of students, donating health insurance cards to 14,000 near-poor people and funding cataract surgeries for thousands of poor patients.

It has also pitched in to help develop Vietnamese sports. Last year, for the eighth time, it organised the HDBank Cup International Chess Tournament, the largest international chess tournament in Việt Nam.

It also continues to sponsor the HDBank Futsal Prize (National Championship and Cup). — VNS