Ho Chi Minh City Development Commercial Joint Stock Bank (HDBank) has announced its 2022 financial statements audited by PwC. For the first time, the bank posted before-tax profits of 10.26 trillion VND (437.24 million USD), fulfilling 105 per cent of the year's plan. The non-performing loans ratio was low, while operational safety indicators were among the best in the industry.

In 2022, HDBank recorded a total operating income of nearly 937.5 million USD, up 31.1 per cent over the same period last year. Credit activities along with services, cards, and digital banking also posted high growth. The number of issued credit cards quadrupled while the value of card transactions tripled against last year. the number of e-banking transactions doubled with their value growing by six times to 32.39 million USD.

Consolidated pre-tax profit in 2022 reached 438 million USD, up 27.2 per cent compared to 2021 and fulfilling 105 per cent of the profit plan assigned by shareholders. The bank also recorded higher Return On Equity and Returned On Assets than last year, at 23.5 per cent and 2.1 per cent respectively.

HDBank's audited financial statements for 2022 also recorded a separate bad debt ratio of only 1.3 per cent and a consolidated bad debt ratio of 1.67 per cent. The bank's bed debt is lower than the whole industry thanks to selective credit policy and effective risk management. The capital adequacy ratio according to Basel II reached 13.4 per cent, making HDBank among the group of banks with the highest capital adequacy.

The bank's total consolidated assets were worth nearly 17.74 million USD, up 11.1 per cent against the end of 2021. Outstanding loans topped 11.41 billion USD, an increase of 25.6 per cent.

HDBank’s lending portfolio focuses on priority sectors and those that are key contributors to economic growth such as agriculture and rural development, SMEs, supply and distribution chains, green financing, and small business households.

HDBank owns only 183.19 million USD of corporate bonds, equivalent to just 1.6 per cent of total outstanding loans. The bonds all have mortgaged assets backing them and have been paid on time and fully. HDBank also has a low real estate loan rate of 7.9 per cent of total outstanding loans.

As of December 31, 2022, HDBank had 347 branches and transaction offices and nearly 24,500 financial transaction points. The bank and its subsidiaries have 16,326 employees, excluding around 2,000 security guards, with average earnings of 1,137 USD a month, 37.6 per cent higher than a year earlier.

The total remuneration for directors decreased to 357,980 USD from 464.522 USD. Some HDBank leaders took voluntary cuts or used their remuneration for social activities.

In 2022, HDBank was honoured with 24 prestigious awards and titles from domestic and international organisations. The bank received the Certificate of Merit from the Prime Minister, the Emulation Flag of the State Bank of Vietnam, and the Certificate of Merit from the Ho Chi Minh City People's Committee of Ho Chi Minh City due to its great contribution to the state budget.

In addition, HDBank was recognised among the Top 50 Prestigious and Effective Public Companies in 2022, the Top 10 prestigious commercial banks in 2022, as well as the Top 5 prestigious joint-stock commercial banks. Forbes magazine also named HDBank among the top financial institutions in Viet Nam.

Despite market fluctuations, the positive performance results once again affirm HDBank's ability to sail through challenges. The bank will continue to maintain high growth in what was a pivotal year with its new development strategy in terms of both scale and quality in the coming years.