The Ho Chi Minh City Development Bank (HDBank) plans to collect USD 217 million profit before tax this year, an increase of 27 percent compared to 2018.
The information was released during its Annual General Meeting of Shareholders (AGM) on April 23rd, 2019. VNS/VNA reports.
The bank forecast that total assets this year will be up 16 percent from 2018 to reach nearly USD10.73 billion, capital mobilization will touch 2USD9.62 billion, an increase of 20 percent year-on-year.
In 2019, outstanding loans are expected to be USD6.9 billion, bad debt ratio will be kept below 2 percent.
Return on Asset (ROA) and Return on Equity (ROE) will increase by 1.7 percent and 21.2 percent, respectively.
The bank will continue to expand the network of transaction points, lifting the total number to 308.
In 2019, HDBank will apply modern banking management models to meet international standards, boost technological innovation and apply Basel II standards in risk management, improve financial capacity and competitiveness, diversify mobilized capital sources and restructure assets to increase the proportion of profitable assets.
This year, shareholders will receive cash dividend payment at the rate of 10 percent.
During the AGM, shareholders also agreed with the plan to increase charter capital in 2019 via the issuance of shares for dividend payment and bonus shares. Dividend paid in shares and bonus shares issuance will be kept at the rate of 20 percent.
This capital raising plan will help HDBank to further improve the safety criteria under Basel II and increase capital supply for business activities.