Digital transformation drives 46.6% increase in profit before tax, and proceeds a 20% dividend payout

HD SAISON, the consumer finance arm of HDBank, continued its strong recovery, with its loan book growing 15% YoY.

Profit before tax surged by 126% to reach VND 906 billion (US$35.8 million), achieving an ROE of 22.9%, making it one of the most profitable consumer finance company in the sector.

As of September 30, 2024, HDBank reported total consolidated assets of VND 629 trillion ($24.8 billion), reflecting a YoY increase of 23.9%.

Similarly, total funding mobilization reached VND 559 trillion ($22 billion), demonstrating a 24.8% rise YoY. The Bank also recorded a total outstanding loan balance of VND 412 trillion (16 billion), marking a 16.6% increase since the beginning of the year.

HDBank strategically directs credit flows towards key sectors driving economic growth, including rural agriculture, small and medium enterprises (SMEs), value-chain finance, household businesses, traders, and green credit initiatives.

The non-performing loan ratio as prescribed by the State Bank is only 1.46%, lower than the sector average; Capital Adequacy ratio (CAR) of 14.8% under Basel II standards. Other prudential indicators are at healthy levels, demonstrating the effectiveness of HDBank's sustainable development strategy, which comprehensively integrates ESG factors.

With these positive results over the first nine months, HDBank has solidified its position among leading banks in the sector. The Bank is well-positioned to maintain high and continuous growth, ensuring the successful completion of the General Meeting of Shareholders' plan.

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References

1. ^{^} Media OutReach Newswire (www.media-outreach.com)