HDBank profit up 87 pct
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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.
Questions & Answers
Q.What was HDBank's consolidated profit for the first quarter?
What was HDBank's consolidated profit for the first quarter?
HDBank reported a consolidated profit of over VND2 trillion in the first quarter. This represented a significant 67 percent increase compared to the same period last year, reaching the equivalent of $86.9 million.
Q.What are HDBank's financial targets for the full year?
What are HDBank's financial targets for the full year?
HDBank aims for full-year profits of VND7.28 trillion, which would be a 25 percent increase from its 2020 performance. The bank also targets a substantial credit growth of 26 percent for the year.
Q.How does HDBank plan to pay its 2020 dividend?
How does HDBank plan to pay its 2020 dividend?
HDBank intends to pay a 25 percent dividend for its 2020 performance. This dividend will be distributed to shareholders in the form of stocks, rather than cash, as per the bank's plan.
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