HDBank expects to mobilise VND11.5 trillion of bonds

25-May-2021 Intellasia | NDH | 5:02 AM Print This Post

The Board of directors of HCM City Development Commercial Joint Stock Bank (HDBank, HoSE: HDB) has approved the plan to issue bonds in 2021 with a total par value of 11.5 trillion dong, in two phases. In the first phase, the bank plans to offer up to 1.5 trillion dong of bonds at par value and in the second phase, 10 trillion dong of bonds will be issued.

Previously, the bank announced that it would buy back four trillion dong of issued bonds. The implementation time is expected to be from May 25th to June 10th.

In 2021, HDBank plans to expand total assets by 25 percent to 399.320 trillion dong. The total capital mobilisation (including customer deposits, issuance of valuable papers, investment trust funding, deposits and loans at other credit institutions) and outstanding credit are expected to increase by 25 percent and 26%, respectively. The bad debt ratio is targeted to be controlled below two percent, while the targeted pre-tax profit is 7.281 trillion dong, up by 25%.

In the first quarter of 2020, HDBank’s consolidated pre-tax profit was more than 2.1 trillion dong, up by 68 percent compared to the end of 2020, equivalent to 29 percent of the year plan. As of March 31st, the bank’s total assets were 325.821 trillion dong, up by two percent compared to the end of 2020. The outstanding credit was 197.970 trillion dong, up by 5.2%. The mobilisation of capital and issuance of valuable papers of HDBank reached 219.266 trillion dong, up by five percent. The bank’s on-balance sheet bad debt ratio was 1.51%.

 

Category: Finance, Vietnam

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