HDBank to pay 25% dividend for 2020

HCM CITY — The Ho Chi Minh City Development Joint Stock Co妹妹ercial Bank (HDBank, stock code: HDB) will pay a dividend of  二 五 per cent in shares for  二0 二0, increasing its charter capital to more than VNĐ 二0.0 七 trillion (US$ 八 七 二. 三 million).

The proposal has been approved by the State Bank of Vietnam.

The lender will issue more than  三 九 八 million shares to existing shareholders at the rate of  二 五 per cent.

Undistributed profits that have been audited and fully allocated to funds according to regulations will be capitalised for the issuance.

The record date for the dividends will be in July.

In the first quarter HDBank recorded pre-tax profits of more than VNĐ 二. 一 trillion, an increase of  六 八 per cent year-on-year and equivalent to nearly  三0 per cent of the full-year target.

Its earnings from services doubled.

The bank has been assessed as having excellent growth potential in bancassurance, consumer finance, credit cards, and other product and service lines.

Recently HDBank achieved Basel III standards.

Moody's Investors Service upgraded the outlook on its long-term deposit and issuer ratings from stable to positive, and the Asian Development Bank has decided to increase the trade finance limit and rollover loan limit for HDBank from $ 八 五 million to $ 一 五0 million.

Many international financial institutions have hailed HDBank's stability and development prospects, and strengthened ties with it.

With a charter capital of over VNĐ 二0.0 七 trillion, HDBank is ready to deploy strategic plans that enable it to reach a higher growth trajectory. — VNS