HDBank approves dividend payment of 30 per cent in cash and stocks

The payout of 30 per cent will be the highest in the banking sector, which HDBank has led for many years.

The date set for the cash dividends is July 15, and the ex-dividend date is July 12. The payout is likely to be on July 26. Shareholders who have their names on the list by those dates will receive VND1,000 ($0.039) per share.

Dividends in shares at a rate of 20 per cent will also be paid in line with the AGM's resolution, with each shareholder owning 100 shares receiving 20 new shares.

The record date for the dividend payment in shares will be announced after approval from authorities, and is expected in the third quarter of 2024.

According to its financial statement for the first quarter of 2024, HDBank posted credit growth of over 6.2 per cent, topping the banking industry. The bank generated VND4.03 trillion ($158.32 million) in pre-tax profits, up 46.8 per cent on-year. Its return on equity (ROE) reached 26.7 per cent, leading the sector. At the same time, the bank also maintained a capital adequacy ratio (CAR) and asset quality among the highest in the industry.

In 2024, HDBank will advance its growth and sustainable development strategy surrounding environmental, social, and governance aspects. The bank has set a goal to achieve high and comprehensive growth targets. Specifically, the bank targets pre-tax profits of VND16 trillion ($628.5 million), an increase of 21.8 per cent from 2023, ROE of 24.6 per cent, and maintaining its non-performing loans ratio below 1.5 per cent.

The Ho Chi Minh City Development Joint Stock Commercial Bank on March 29 announced its 2023 audited financial statements, which show it achieved its best-ever results with pre-tax profit exceeding VND13 trillion ($524 million), an increase of 26.8 per cent, consolidating its rapid growth.

HDBank is pioneering the internationalisation of its governance practices and is benefiting from the steadfast support of seasoned shareholders and investment funds.

Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) published its 2024 Sustainable Development Report on May 23, the first of its kind in the banking sector.