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Banking & Finance

HDBank's 2014 pre-tax profit reaches $32.42 million

Released at: 15:22, 19/04/2015

HDBank's 2014 pre-tax profit reaches $32.42 million

Bank targets 2015 profit of $38.45 million with total assets increasing from $4.63 billion to $5.56 billion.

by Minh Tien

HDBank held its 2015 Annual General Meeting of Shareholders today and announced pre-tax profit for 2014 of VND700 billion ($32.42 million), a return-on-asset (ROA) ratio of 0.6 per cent, and a return-on-equity (ROE) ratio of 6.9 per cent.

2014 was the first year HDBank had operated after the merger with DaiABank and the entire acquisition of Société Générale Viet Finance (SGVF), and consequently the bank had to spend time and resources on stabilizing its new organizational structure and operational procedures to ensure business effectiveness and efficiency.

With the strength of three financial institutions, HDBank achieved positive business results in 2014 and has set targets for 2015 of increasing its total asset value to VND120 trillion ($5.56 billion), which would be a 21.5 per cent rise compared with 2014, deposit growth to increase by 11.5 per cent and credit growth by 11 per cent, in order to achieve pre-tax profit of VND830 billion ($38.45 million) and an ROA of 0.6 per cent and an ROE of 8 per cent. The bank also expects to control its non-performing loan ratio to less than 3 per cent.

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