HDBank wins award for large-cap listed companies with best annual report

The Ho Chi Minh City Development Joint Stock Commercial Bank has been named among the Top 10 Large Cap Companies with the Best Annual Reports at the 2022 Vietnam Listed Companies Awards organised by the Ho Chi Minh Stock Exchange, Hanoi Stock Exchange and Investment Review newspaper in Da Nang.
HDBank wins award for large-cap listed companies with best annual report
HDBank was named among the Top 10 Large Cap Companies with the Best Annual Reports at the 2022 Vietnam Listed Companies Awards. (Photo courtesy of the bank)

This was the fourth time in a row that HDBank won the award. This year it joined other big names such as Vinamilk, Petrolimex, SSI, VietinBank, MB Bank, and ACB in getting the award.

Speaking at the event, Nguyen Thi Viet Ha, a member of the HOSE board of directors, said this year’s awards attracted the participation of nearly 500 listed companies.

They were divided into various tiers based on market cap, and competed in three report categories: annual, corporate governance and sustainability. Nearly 50 awards were presented this year.

"This is a prestigious award," Ha said.

Tran Anh Dao, Deputy CEO in charge of HOSE and Head of the organising committee, said despite some changes recently the securities market remains an active capital source for businesses.

This is the year that shows the ability of enterprises to overcome difficulties after the pandemic.

The organising committee appreciated HDBank for its pioneering in digital transformation and sustainable development and having an outstanding, clear and transparent annual report.

HDBank's annual report highlights its achievements and presents full information and organisational structure attractively and scientifically. The bank also made the annual report in English.

Notably, the annual report recorded some outstanding points in the disclosure of the list of subsidiaries and associates, information on the main business areas, and the bank's ownership ratios in these companies.

The report also features analysis on financial and business position fully and clearly to make it easy for shareholders to better grasp the bank’s financial, operations and governance situation.

By the end of the third quarter this year HDBank had recorded robust growth in all areas.

Capital adequacy was 15.3%, among the highest in the banking sector and nearly twice as high as the minimum requirement of 8% set by the State Bank of Vietnam.

Its profit before tax in the first nine months was over 8 trillion VND, up 31.7% from a year earlier and 82% of the full-year target.

Profitability ratios ROE and ROA were 25.2% and 2.2% respectively, putting it among the leading lenders in terms of efficiency.

HDBank has consistently promoted the automation of key processes to improve operational efficiency and the customer experience.

Its technological capabilities were deeply appreciated by partners and State management agencies when it joined hands with other organisations to successfully undertake large national projects, including building a website to mobilise resources for the Vaccine Fund, and coordinating with FPT to overcome the congestion problem at HOSE.

HDBank provides the best financial solutions to customers in the fields of high-tech agriculture and environment-friendly manufacturing.

In addition to its own resources, HDBank signed agreements worth 700 million USD with foreign partners such as Proparco (the private sector financing branch of Agence Française de Development), DEG (a subsidiary of German investment and development bank KFW Group) and Affinity International Investment Fund to promote sustainable development.

HDBank has always participated in social activities such as donating funds to build charity houses, perform eye surgeries for poor blind people, issue free health insurance cards to poor households, and grant scholarships to students.

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(Source: VNA)