Just in:
Sharjah Chamber Breaks Ground on Final Expansion with New HQ Pact // Melco Style Presents “SANRIO CHARACTERS STUDIO CITY CARNIVAL” – Explore a SANRIO World of Unlimited Love and Cuteness // German Job Market Resilience Bodes Well for Economic Recovery // Universal Language for Healthcare: General Authority Embraces Global Coding System // Global Audience to Witness Thrill of Dubai World Cup // Emirati Aid Reaches Ukraine as Food Shortages Bite // 2024 Lok Sabha Elections Will Be The Costliest One Till Now In The Whole World // Saudi Arabia Unveils Green Financing Tool to Achieve Net-Zero Goals // DrGo launches DrGo Me+ Ready Pack portable nutritional supplement pack // U.S. Compliance Takes Center Stage at OKX Following Industry Jitters // CABSAT 2024 Ushers in 30 Years of Media Innovation // Samsung Partners National Heritage Board to Bring a Slice of Singapore’s Cultural Heritage to Samsung The Frame TV // Following the Money Trail: US and UK Investigate $20 Billion in USDT Transfers Tied to Sanctioned Russian Exchange // Andertoons by Mark Anderson for Fri, 29 Mar 2024 // Octa seeks to clarify Forex swap and swap-free accounts // Sunshine’s Debut Features Leave Tech World Scratching Its Head // New Nylon Constant Torque Hinge From Southco Provides Position Control In A Compact Package // Experience Ultimate Shopping Freedom at 4.4 Shopee Spree: Don’t Worry, Shop Shopee! // Simplified Business Moves for Al Reem Island Firms // Digital Hub Unveiled: Xposure Launches Platform for Global Photography Community //
HomeAsian News by Media-OutreachHDBank to pay 25 per cent dividend in shares, Moody’s raises credit rating for the bank to positive outlook

HDBank to pay 25 per cent dividend in shares, Moody’s raises credit rating for the bank to positive outlook

HO CHI MINH CITY, VIETNAM – Media OutReach – 7 June 2021 – The Ho Chi Minh City Development Joint Stock Commercial Bank (HoSE: HDBank) has announced plans to increase its charter capital to more than VND20.273 trillion (US$879.48 million) by paying dividends for 2020 in shares and an employee stock option plan.

According to information published by the Ho Chi Minh Stock Exchange on June 4, the HDBank board of directors approved the plan to hike the charter capital in 2021 as approved at the bank’s annual general meeting in April.

ADVERTISEMENT

The Bank will increase its charter capital by VND3.984 trillion ($172.83 million) by issuing more than 398 million shares as dividends for 2020 at a rate of 25 per cent from undistributed profits.

The lender will also issue 20 million shares to employees (ESOP).

The HDB share closed on June 3 at VND35,800 with a lot of foreign buying.

In the first quarter HDBank reported a pre-tax profit of more than VND 2.1 trillion ($91.1 million), an increase of 68 per cent year-on-year, with income from services up by more than 98 per cent.

HDBank’s return on equity and return on assets increased strongly to 26.3 per cent and 2.1 per cent, its capital adequacy ratio (based on Basel II standards) was over 12 per cent while its standalone bad debts ratio was only 1.1 per cent.

The Bank is considered to have high growth potential, with great potential in bancassurance, consumer finance, credit cards and services . HDBank is one of the few banks that not to have signed an exclusive distribution agreement with any life insurance company, and is currently the focus of intense attention of many major players.

International credit rating agency Moody’s Investors Service recently upgraded HDBank’s outlook from “stable” to “positive”. The positive outlook reflects Moody’s view that improvements in asset quality over recent years, which could translate into lower credit costs and higher profitability, could raise the Bank’s Baseline Credit Assessments over the next 12 – 18 months.

#HDBank

ADVERTISEMENT

ADVERTISEMENT
Just in:
Octa seeks to clarify Forex swap and swap-free accounts // Sharjah Chamber Breaks Ground on Final Expansion with New HQ Pact // Experience Ultimate Shopping Freedom at 4.4 Shopee Spree: Don’t Worry, Shop Shopee! // UAE Golden Gambit to Counter Saudi Bid for Business Leadership // Simplified Business Moves for Al Reem Island Firms // Global Audience to Witness Thrill of Dubai World Cup // Samsung Electronics Launches 2024 Neo QLED 8K, Neo QLED, and OLED Displays to Spark the AI Screen Era // Saudi Arabia Unveils Green Financing Tool to Achieve Net-Zero Goals // German Job Market Resilience Bodes Well for Economic Recovery // Andertoons by Mark Anderson for Fri, 29 Mar 2024 // French Leaders Gather for Interfaith Iftar Dinner // Melco Style Presents “SANRIO CHARACTERS STUDIO CITY CARNIVAL” – Explore a SANRIO World of Unlimited Love and Cuteness // Samsung Partners National Heritage Board to Bring a Slice of Singapore’s Cultural Heritage to Samsung The Frame TV // DrGo launches DrGo Me+ Ready Pack portable nutritional supplement pack // Aid is at the core of Israel, Palestine struggle to control post-war Gaza // Ingdan Announces 2023 Annual Results // TUMI Hosts Global Launch Event in Singapore to Unveil Women’s Asra Collection and Announce Global Ambassador, Mun Ka Young // US reiterates concern over Kejriwal arrest, Cong accounts // First-Ever Fortune Innovation Forum Draws Top Global Leaders to Hong Kong, Promoting Agendas On Collective Cross-Sector Advancement // CABSAT 2024 Ushers in 30 Years of Media Innovation //