Ho Chi Minh City Development Joint Stock Commercial Bank (HDB) Q1 2025 earnings summary

Executive summary

• Consolidated profit after tax for Q1 2025 reached VND 4,358 billion, up 36% year-over-year, driven by strong growth in non-interest income, especially from payment services and valuable papers trading.

• Operational efficiency improved through digitalization and cost optimization, reflected in a lower cost-to-income ratio compared to Q1 2024.

• Capital adequacy remains robust, with CAR (Basel II) above 14.9%.

Financial highlights

• Total assets as of 31 March 2025 were VND 711,311 billion, up from VND 697,366 billion at year-end 2024.

• Net interest income for Q1 2025 was VND 7,408 billion, up from VND 7,160 billion in Q1 2024.

• Net fee and commission income rose to VND 733 billion from VND 357 billion year-over-year.

• Profit before tax reached VND 5,355 billion, a 33% increase from VND 4,028 billion in Q1 2024.

• Loans to customers grew to VND 446,106 billion, up from VND 442,485 billion at year-end 2024.

Outlook and guidance

• Continued focus on expanding non-interest income streams and digital transformation to sustain growth and operational efficiency.

• Ongoing diversification and modernization of transaction channels expected to further optimize costs and enhance profitability.