HDBank Achieves VND 13.017 Trillion Profit in 2023, Expands Green Finance and Comprehensive Digital Transformation

With a sustainable development strategy and effective risk management, HDBank has overcome the fluctuations in 2023 to achieve high growth in all indicators, with a low level of non-performing loans in the industry group.


On 30th January 2024, HDBank – the Hochiminh City Development Joint Stock Commercial Bank (stock code: HDB) announced its financial report for the fourth quarter of 2023, achieving significant growth in all planned shareholder targets. Pre-tax profit reached 13,017 billion VND, a 26.8% increase compared to 2022. Non-performing loans stood at just 1.5%, with growth indicators leading the industry.

Strong acceleration in Q4, high growth quality in leading group nationwide

HDBank’s pre-tax profit in Q4 2023 reached 4,385 billion VND, a 94.7% increase compared to the same period last year. The full-year pre-tax profit for 2023 reached 13,017 billion VND, the highest level to date for the bank. Profitability indicators included a ROA of 2.0% and a ROE of 24.2%, both higher than the previous year and leading the industry. The bank proactively increased provisions to strengthen its financial buffer, preparing for market fluctuations. The bank’s capital adequacy ratio (CAR – Basel II standard) reached 12.6%, significantly higher than the banking industry regulations.

As of 31st December 2023, HDBank’s total assets reached over 602 trillion VND, a 44.7% increase compared to 2022. Total funding reached 537 trillion VND, a 46.5% increase. Consolidated credit balances reached 353 trillion VND, a 31.8% increase.

In 2023, HDBank experienced strong growth in its digital banking channel, both in terms of new customers and transaction volumes, with growth rates of 107% and 88% respectively compared to the previous year. 94% of transactions by individual customers were conducted digitally, significantly higher than the 77% rate in 2022. For the first time, the number of new customers attracted to the digital channel surpassed the number of new customers in traditional channels.

A decade of continuous high growth

HDBank has been a bank with a decade of continuous high growth in the banking industry. Over the past 10 years, HDBank has achieved an average annual compound profit growth rate of 49.1%.

To maintain sustainable growth momentum over the long term, on one hand HDBank remains committed to a diversified retail strategy, serving small and medium enterprises (SMEs) and consumer finance, while on the other hand actively applying the best international standards in modern bank management. The bank pioneered the implementation of Basel II and in 2023 continued to upgrade to the Basel III international management standard, while also implementing an ESG strategy.

2023 also marked 10 years since HDBank’s merger with DaiABank and the acquisition of Societe Generale Viet Finance (SGVF), the predecessor of HD SAISON. These successful financial institution restructuring projects have created momentum for HDBank’s strong growth journey, expanding its presence to second-tier urban areas and rural areas to fulfill its chain financing programs and effectively meet the consumer credit needs of workers and individuals who have limited access to banking services.

Accompanying the economy

In addition to its vibrant business activities, HDBank also accompanies the economy with practical and meaningful programs. The bank implements multiple preferential loan packages with attractive interest rates to support people and businesses in economic development, contributing to mitigating loan-sharking activities. Furthermore, HDBank is a leading bank in promoting the “One Commune One Product” program, supporting farmers in bringing their products to digital sales channels, applying non-cash payment methods, and implementing practical social welfare programs.

Being proactive in fulfilling its social responsibilities, in 2023 HDBank implemented many meaningful programs, such as funding thousands of cataract surgeries, providing health insurance cards along with hundreds of scholarships, constructing hundreds of charity houses, promoting national unity in various areas across the country.