A director at Ho Chi Minh City Development JSC bought 959,800 shares at 0.000VND and the significance rating of the trade was 72/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the las...
EQS Newswire / 01/11/2024 / 11:30 CET/CEST HO CHI MINH CITY, VIETNAM – – 1 November 2024 - Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank - Stock code: HDB) announces its 9 months business results with profit before tax reaching VND 12,655 billion (US$500 million), an increase of 46.6% year-on-year, achieving 79.8% of the full-year targets. HDBank achieved a strong ROE of 26.7% and an ROA of 2.2%, placing it among the leading banks in the sector. HDBank continued its track record of regular dividend payouts by implementing a 30% dividend for 2023. This included a 10%...
EQS Newswire / 19/09/2024 / 09:30 CET/CEST HO CHI MINH CITY, VIETNAM - - 19 September 2024 - The Ho Chi Minh City Development Joint Stock Commercial Bank ( – HOSE: HDB) and Proparco, the private sector financing arm of Agence Française de Développement Group (AFD Group), have signed a credit facility worth US$50 million. HDBank and Proparco's leaders at the signing ceremony for a credit facility worth US$50 million in HCM City on September 16. The new agreement brings the total credit facility for HDBank to $100 million, showcasing Proparco's trust and commitment to HDBank. The proceeds...
EQS Newswire / 01/08/2024 / 09:00 CET/CEST HO CHI MINH CITY, VIETNAM - - 1 August 2024 - Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank - HOSE: HDB) has announced its financial report for the second quarter of 2024, with profit before tax for the first half of the year reaching VND 8,16 trillion (appx. US$324.47 million), an increase of 48.9% over the same period driven by HDBank's enhanced operational efficiency and implementation of digital transformation initiatives. According to the financial statements, as of June 30, 2024, HDBank recorded a credit growth of 13.0%...
EQS Newswire / 21/06/2024 / 09:00 CET/CEST HO CHI MINH CITY, VIETNAM - - 21 June 2024 - As of June 14, credit growth has reached 3.79 per cent compared to the end of last year, according to a report by the State Bank of Viet Nam (SBV). HDBank currently tops the banking industry in profitability. - Photo courtesy of HDBank However, challenges still abound in promoting credit growth. The SBV recently issued a document requiring implementation of solutions to achieve a credit growth rate of 5-6 per cent by the end of the second quarter. Statistics show in the first quarter, seven out of 2...
EQS Newswire / 06/06/2024 / 12:00 CET/CEST HO CHI MINH CITY, VIETNAM - - 6 June 2024 - On May 23, 2024, the Ho Chi Minh City Development Joint Stock Commercial Bank (, stock code: HDB) released its Sustainability Report, becoming the first Vietnamese bank to publish this report in 2024 and commit to a net-zero emission target. The 195-page report, "Green Thinking, Sustainable Growth," prepared in accordance with Global Reporting Initiative standards, showcases HDBank's environmental, social, and governance (ESG) strategies, objectives, and achievements. — Photo courtesy of HDBank The Sus...
EQS Newswire / 29/04/2024 / 16:00 CET/CEST HCM CITY, VIETNAM - - 29 April 2024 - The Hồ Chí Minh City Development Joint Stock Commercial Bank () has announced an ambitious pre-tax profit target of VND15.85 trillion (US$625.5 million) for 2024, a 22% increase from the previous year, at its annual general meeting on Friday, April 26. Customers conduct transactions at an HDBank branch in HCM City. Photo courtesy of HDBank. One of the key factors driving growth is the lender's focus on maintaining profitability ratios such as ROA and ROE. In 2024 the bank remains on track for high growth ...
EQS Newswire / 08/04/2024 / 09:00 CET/CEST HCM CITY, VIETNAM - - 8 April 2024 - The Ho Chi Minh City Development Joint Stock Commercial Bank () will pay a dividend of 25%, 10% in cash and 15% in stocks, for 2023, according to documents to be tabled at its 2024 annual general meeting released on April 4. HDBank will pay a dividend of 25%, 10% in cash and 15% in stocks, for 2023. — Photo courtesy of HDBank This year the bank targets 22% growth in profits to VND15.85 trillion (US$634.13 million) and dividend payment of up to 30% (with a maximum of 15% in cash). According to the documents, ...
HDB has maintained a strong performance across most of its core operations. Specifically, net interest income has grown 19.7% YoY, and net fee income of 11.3% YoY growth. Total operating income has shown a significant growth rate of 10.4% YoY. However, the Bank has simultaneously increased its provision for credit losses during the period, leading to an 8.5% YoY increase in PBT. As asset yield improved by a smaller extent due to the lagging repricing period, 1Q23 NIM returned to 5.1% after a ...
We maintain a neutral view on HDB’s provisioning buffer and advantages on the funding front. However, HDB has an edge in the low-profile retail and SME segments due to its physical network in rural areas, which matches the authorities’ desire. Given the orientation to expand through M&A or private placement and the potential of a competitive upfront fee, we have a positive view on the medium-term stock price performance to some extent. Bancassurance is projected to boost service income growth an...
After 11M 2021, HDB achieved c13% credit growth. This is in line with the lower-than-expected credit quota that was granted. The SBV is expected to approve more credit growth in December 2021. We factor in a 20% credit growth for 2021. We revise down NIM estimates. Asset quality was slightly impacted in Q3 21. HDB’s NPL ratio rose and restructured loans decreased to the lowest level among our bank coverage. Combined with the guidance on provisioning policy, we revise down our forecasts on cre...
After 11M2021, HDB reached approximately 13% credit growth. This is in line with the lower-than-expected granted credit quota. SBV is expected to approve for more credit growth in December 2021. We factor in a 20% credit growth for 2021, equivalent to another raise during the rest of the year. We revise down NIM estimates. Asset quality was slightly impacted in 3Q21. The NPL ratio rose and restructured loans decreased to the lowest level among our bank coverage. Combined with the guid...
Contrary to the first year-half, credit growth was resilient in the third quarter while deposit growth slowed down. HDB has applied for a significant raise in credit growth quota in the fourth quarter, at over 25% in comparison to about 10% currently. We maintain our conservative view on the provision buffer. However, we think the provisioning level will be sustained in the short-term despite the social distancing impact. In spite of the decline in restructured debt at the end of August comp...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Covid-19 pandemic has led to a slowdown, even compression, of banks’ service income in H1 20 During H1 20, many listed banks witnessed weak performance of service income growth, which stayed at only 9.9% yoy (much lower than 42.1% in H1 19). Service income contributed to 10.6% of operating income (similar to H1 19). The main reasons for the slowdown include (1) weak credit demand, which had hampered banking services, particularly insurance, trade service and FX gains, (2) net payment fee slow....
For 2020, we expect net interest income growth to remain strong with positive momentum in both credit and NIM, but service income will remain modest at least until the exclusive bancassurance agreement is finalised. We also expect that the bank will be able to handle the coronavirus impact on asset quality in the subsequent quarters. Our target price on the latest results update is VND31,000, equivalent to a potential upside of 17% versus current market price. This translates to an Accumulat...
With the second wave of the coronavirus pandemic, economic recovery will take longer than we expected because of weaker domestic consumption. The second wave has negatively impacted consumer buying power and mobility. Since Vietnam is heavily dependent on exports, a global recession will result in decreasing manufacturing orders, dragging down production activities. However, there are supportive elements for the economy, especially the government’s support towards power infrastructure constru....
In our 23-page strategy report, we look at investment ideas and highlight our favourite stocks. We also cover Vietnam and global macro as well as our July stock market outlook. In Q2 20, Vietnam’s GDP grew 0.24% yoy, better than consensus expectations as most industries recovered well after the “social distancing†period. Hence, we don’t expect companies’ results to be as bad as the consensus predictions. Despite that, there will be divergent results among sectors. Companies that have ...
Currently, HDB’s income growth is still primarily driven by net interest income, while other income streams remains limited, especially under unfavourable economic conditions. For 2020, net interest income is expected to stay strong, but service income is likely to pick up only if the exclusive bancassurance agreement is finalised (expected by H2 20). Regarding expense, in Q1 20 the bank accumulated some reserves for trading and investment securities, operating and provision expenses just in....
Currently HDB’s income growth is still primarily driven by net interest income, while other income streams remains limited, especially under unfavorable economic conditions. For 2020, net interest income is expected to stay strong, but service income is likely to pick up only until the exclusive bancassurance agreement is finalized (expected by 2H2020). Regarding expense, in 1Q the bank has accumulated some reserves for trading & investment securities, operating and provision expenses just in ca...
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