HDBank profit up 87 pct

HDBank reported a 67 percent increase year-on-year in consolidated profit in the first quarter to over VND2 trillion ($86.9 million).

Its outstanding loans at the end of the quarter were VND198 trillion, up 5 percent from the end of last year. The parent bank’s profit was VND1.8 trillion, up 87.7 percent. The lender also owns consumer finance company HD SAISON.

It targets full-year profits of VND7.28 trillion, an increase of 25 percent from 2020, and credit growth of 26 percent. It plans to pay a 25 percent dividend for 2020 in the form of stocks.

HDBank is among the few banks that have not signed an exclusive bancassurance contract.

The bank recorded VND5.8 trillion in consolidated profit last year, a year-on-year increase of 15.9 percent.