With the message "SUSTAINABLE DEVELOPMENT - STRIVING FOR THE LEADING POSITION", HDBank continues this year to pursue its sustainable development orientation in its corporate governance, creating sustainable assets for society, bringing values to local and foreign partners and investors, and creating a professional working environment with excellent remuneration for its employees.

Last year marked the 10th anniversary of the bank's innovation progress and five years since its IPO.

Its unceasing efforts over the years have brought HDBank significant achievements with its total assets exceeding VND416 trillion (USD18 billion) at the end of 2022, total deposits topping VND366 (USD15.6 billion) trillion and total credit being nearly VND268 trillion (USD11.4 billion).

Speaking at the Annual General Meeting, Pham Quoc Thanh, CEO of HDBank, said the Bank always focuses on risk management, constantly strengthening its systems and processes and using technology to monitor, forecast and promptly identify risks.

Despite the market volatility in 2022, all of HDBank's activities went smoothly, with its safety performance indicators meeting State Bank of Viet Nam norms.

HDBank's asset quality was also at a good level with the consolidated and separate non-performing loan ratio at 1.67% and 1.3%, respectively, much lower than the industry's average.

HDBank's capital adequacy ratio (Basel II) was 13.4%, among the highest in the industry.

HDBank's Loan to Deposit ratio was 76.6%, lower than the maximum ratio of 85% required by the SBV.

Other quantitative and qualitative indicators were also consistently good:

• HDBank's profit before tax exceeded VND10 trillion (USD427 million) for the first time
• HDBank's return on equity and return on assets were 23.5% and 2.08%, both higher than last year and among the highest in the sector.
• The HDB stock is attractive to investors. Amid the stock market volatility, foreign investors continue to buy the stock.

With the positive business results of 2022, shareholders have approved dividends distribution of 10% in cash and 15% in shares for 2022.

At the meeting, the Chairman of Board of Directors – Independent BOD Member, Mr. Kim Byoung-ho said: "The macroeconomic landscape of the world and Viet Nam have brought significant challenges to Viet Nam but also provided great opportunities for those who have the know-how. By taking the initiative and being flexible in a volatile period, HDBank last year achieved strong yet sustainable growth. We ensured the prudent and asset quality ratios were well-managed within safe levels, and the growth of both credit and deposits topped the industry."

Amid the global financial crisis and increased uncertainty this year, HDBank continues to pursue its sustainable development orientation and strategy to become a leader in retail, SME (small and medium-sized enterprises) and consumer banking, creating sustainable assets for itself and for society.

The bank will provide more products and services targeting industries and sectors that are key contributors to economic growth such as agriculture and rural development, green financing, manufacturing and trading, renewable energy, waste treatment, and recycling besides focusing on retaining its leading position in supply chain financing.

It will continue to offer preferential loans to those affected by the pandemic and workers and for digitisation of business and operations, and others.

Thanks to a large and promising customer ecosystem and a number of branches and transaction offices, after more than three decades of development, especially during the past five years since the bank's IPO, Mr. Pham Quoc Thanh, CEO, said the bank is set to maintain strong growth in 2023.

• Total assets to exceed VND520 trillion (USD22.2 billion), up 25% from last year.
• Charter capital to reach nearly VND29.3 trillion (USD1.25 billion), up 16%.
• Total deposits to rise to nearly VND460 trillion (USD19.6 billion), up 25%.
• Total credit to exceed VND333.5 trillion (USD14.2 billion) (in line with the credit growth target prescribed by the State Bank of Viet Nam).

HDBank also aims to maintain the non-performing loan ratio at a low level of less than 2%. It will focus on sustainable strategies to enhance both return on equity and return on assets. Its profit before tax for 2023 are likely to be VND13.197 trillion (USD564 million), up 29%.

HDBank is also a pioneer in implementing Basel III standards for corporate governance, internal risk management regulations and others to improve its operations. It is committed to mobilising all resources to implement the strategy of "SUSTAINABLE DEVELOPMENT - STRIVING FOR THE LEADING POSITION" making it a bank that creates sustainable assets for society.

Mr. Tran Dinh Cuong, deputy director of the State Bank of Viet Nam's HCM City branch, said: "The State Bank of Viet Nam appreciates HDBank for its sustainable development strategy, especially its risk management to ensure safety, keeping its consolidated NPL ratio below 2% and complying with Basel III.

"Its Board of Directors is also highly rated for its corporate governance capacity to ensure openness and transparency."

Mr. Le Nhi Nang, chief representative of the State Securities Commission (SSC) in HCM City, said: "Based on SSC's monitoring and the reports presented today, we consider HDBank one of the large enterprises that fully complies with corporate governance regulations by disclosing transparent information and creating favourable conditions for investors to access information about its operations and periodically meet with its management.

"So investors and shareholders feel secure about their investment in the bank and have trust in the bank's operations."

At the meeting, 16 proposals made by the board of directors were approved with a 90%.

HDBank this year continues to proceed the plan to participate in the restructuring of weak credit institution and buy stakes in a securities company to complete its product and services portfolio.

99.42% of shareholders approved its growth strategy for 2023.

Concluding the meeting, Madam Nguyễn Thị Phương Thảo, HDBank's Permanent Deputy Chairwoman of the Board of Directors said: "With its consistent achievements over the years, HDBank is confident of achieving the targets approved by its shareholders, winning the trust of the State Bank of Việt Nam and State Securities Commission and bringing the maximum benefits to customers, shareholders and employees."

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