At the conference, a representative of the Board of Directors of Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank - stock code: HDB) said that business activities in the first 9 months of the year achieved positive results, many growth targets exceeded the plan: credit increased by 22.6%, pre-tax profit increased by 14,803 billion VND (+17%), non-interest income increased by 5,366 billion VND (+178.6%), ROE 25.2%, ROA 2.1%, CIR 25.7% - among the lowest in the industry. HDBank currently serves more than 20 million customers, grows sustainably with a globally highly appreciated financial platform and Moody's credit rating is among the highest in the industry.
Member companies also achieved positive results in the first 9 months of the year: HD SAISON achieved a profit of VND 1,100 billion (ROE 24.4%); HD Securities achieved a profit of VND 614 billion (+30%, leading the industry in ROE); Vikki Bank made a profit after 7 months of conversion, attracting more than 1.3 million new customers.
The bank has been approved by shareholders for a plan to move its headquarters to Saigon Marina IFC - a new symbol of Ho Chi Minh City International Financial Center, and at the same time, has sought opinions on the plan to divide dividends and shares with a 30% bonus (25% dividends, 5% bonuses), continuing to maintain a high and stable payment policy over the years.
Sharing with investors at the conference, HDBank's Board of Directors maintained a confident view on the possibility of acceleration in the fourth quarter, aiming to complete the profit plan for the whole year of 2025, thanks to two main drivers: Credit demand during the peak season at the end of the year and the prospect of improving asset quality in the more favorable macro context. Strong credit growth is enough to offset the net interest margin (NIM) pressure.
However, credit costs and bad debts need more time to improve. The developments in the third quarter of 2025 showed the possibility of a slight adjustment in the profit forecast, but the growth prospects and results in 2025 are still positive and expected to exceed the plan.
In the discussion at the conference, HDBank's Board of Directors provided more specific information on credit growth prospects. In the first 9 months of the year, HDBank sold more than VND37,000 billion in debt to another bank under the State Bank's credit institution restructuring program. The Board of Directors sets a credit growth target of up to 35% for the whole year.
The credit growth momentum is driven by capital demand from the FDI sector, import-export, housing and construction programs during the peak season, along with the clear improvement of the retail lending segment in mortgages and consumer goods. In this outlook, HDBank said that the State Bank has allocated a limit in accordance with the bank's financial capacity and growth orientation, thereby creating conditions to boost credit growth in the last quarter of the year.
Regarding net interest rates (NIM), HDBank set a target of 4.8-5.0% for the whole year of 2025, lower than the 5.09% in the first 9 months of the year, partly reflecting increased deposit interest rate pressure. However, liquidity is maintained at a good level with the LDR lending ratio reaching 71.3%, significantly lower than the ceiling of 85%, while the short-term capital ratio for medium and long-term lending is only 22.3%. HDBank has also successfully arranged more than 500 million USD in foreign capital at competitive costs, and the prospect of the Fed cutting interest rates could help further reduce the cost of USD mobilization in the coming time.
Meanwhile, non-interest income continued to grow well thanks to revenue from payment fees, bancassurance and debt collection. In particular, since mid-October 2025, when the new legal framework on the right to confiscate assets has come into effect, banks have had the conditions to handle debts faster and improve recovered cash flow.
HDBank's Board of Directors assessed that bad debt will improve significantly from the end of 2025 to the beginning of 2026 thanks to a stable macro environment, recovered real estate liquidity and more favorable regulations on asset handling, thereby aiming to bring the bad debt ratio to about 2% by the end of this year.
Regarding the profit outlook after the 9-month results, HDBank's Board of Directors said that the bank continues to aim for the profit target of 2025 exceeding VND21,000 billion, and at the same time expects a compound profit growth rate (CAGR) of 25-30% in the period of 2025-2030. Member companies also plan to grow positively: HD SAISON expects outstanding loans to increase by 15-16%, towards a profit of VND 1,500 billion; HD Securities sets a profit target of VND 1,000 billion, continuing to maintain ROE efficiency at the top of the industry.
HDBank's Board of Directors affirmed that with a solid financial foundation, good mobilization capacity and improved asset quality, the bank has every basis to accelerate in the fourth quarter of 2025. The strategy of focusing on effective growth, risk control, accelerating digitalization and expanding retail customers continues to be the focus in the period of 2025-2030.
