HDBank achieves positive results in the first nine months of the year, fulfilling 82 per cent of its full-year plan. — Photo courtesy of the bank

HCM CITY — The Ho Chi Minh City Development JSC Bank (HDBank) has announced its preliminary business results for the first nine months of 2021, with positive growth and a standalone non-performing loan ratio of less than 1 per cent.

Its total assets as of September 30 were worth over VNĐ346 trillion (US$15.2 billion), up 26.7 per cent from a year earlier.

Loans outstanding increased by 16.1 per cent year-on-year as of September 30. The standalone and consolidated NPL ratios were below 1 per cent and at 1.4 per cent respectively, lower than at the same time last year.

Loans outstanding to sectors with a high level of risk and restructured debts were well controlled.

The bank's total operating income in the first three quarters topped VNĐ12.1 trillion ($532.3 million), 23.6 per cent up from the same period last year. Service sector continued to be the bright spot in the first nine months, with net income rising by 88.6 per cent year-on-year.

Notably, net income from services for the parent bank more than tripled from the same period last year thanks to growth in the bancassurance and payments services segments.

Operating costs continued to be optimised with the cost to income ratio reduced to 39 per cent from 43.8 per cent a year earlier.

Return on equity (ROE) was 24 per cent compared to 21.1 per cent in September 2020. The capital adequacy ratio (CAR) and liquidity were maintained at high levels, with CAR (according to Basel II) at 13 per cent, far above the minimum requirement of 8 per cent.

In the first nine months of the year HDBank actively undertook digital transformation to promptly meet the transaction needs of customers in the context of the COVID-19 pandemic, including implementing eKYC and online account opening (eAccount); granting credit online 24/7 (eCredit); issuing  L/C online (eLC), online cross border payments (eTT), handling loan applications online from receipt of applications to disbursement, and expanding non-cash payment solutions.

Overcoming the impact of the pandemic, HDBank continued to make steady progress, giving it the confidence to achieve and even go past its 2021 targets. — VNS