Ho Chi Minh City Development Joint Stock Commercial Bank (HDB) Q2 2024 earnings summary

Executive summary

• Total assets reached 624,443,499 million VND as of June 30, 2024, up from 602,314,859 million VND at year-end 2023.

• Total liabilities increased to 571,617,789 million VND, while equity rose to 52,825,710 million VND.

• Net profit after tax for H1 2024 was 6,465,024 million VND, up from 4,373,240 million VND year-over-year.

• Earnings per share (EPS) for H1 2024 was 2,152 VND, compared to 1,465 VND in H1 2023.

Financial highlights

• Net interest income for H1 2024 was 14,880,228 million VND, up from 9,795,323 million VND year-over-year.

• Total operating income before credit risk provision reached 10,560,662 million VND, up from 7,873,593 million VND.

• Credit risk provision expenses were 2,396,082 million VND, slightly up from 2,389,257 million VND.

• Total customer loans increased to 386,186,737 million VND from 343,404,295 million VND at year-end 2023.

• Customer deposits rose to 386,573,343 million VND from 370,777,888 million VND.

Outlook and guidance

• The bank continues to implement regulatory guidance on loan restructuring and provisioning, especially for customers affected by economic challenges.

• Policies supporting customers impacted by COVID-19 and other economic difficulties remain in effect through year-end 2024.