HDBank opens its first branch in Phu Quoc on October 28. — Photo HDBank

The HCM City Development Joint Stock Commercial Bank, commonly known as HDBank, opened a new branch on October 28 at 139 Nguyen Trung Truc Street, Phu Quoc Island, its 350th transaction point.

It is the lender’s fifth transaction point in Kien Giang Province.

It comes as part of the bank’s plans to open 18 new transaction points this year and increase the number of transaction points in the Mekong Delta to 45.

HDBank Phu Quoc will promote digitisation of operations to offer customers smart financial products, services and solutions in line with the current transformative trend of cashless payment.

To mark the opening, the lender gave away attractive gifts to early bird customers.

It also donated houses to two poor local families.

The bank has branches in most delta cities and provinces, and offers preferential loans and other products for agriculture in a region where most people are farmers.

It is next set to open branches in Dien Bien, Lai Chau and Hoa Binh provinces and Phu Quoc Island.

This year it targets a 21 per cent increase in profit before tax to VND10 trillion ($434.21 million) and a standalone non-performing loan ratio of below 1.5 per cent.

It also targets an increase of 18 per cent in total assets to VND440.44 trillion ($19.12 billion) and of 17 per cent and 20 per cent in deposits and loans outstanding to VND392.68 trillion ($17.05 billion) and VND256.06 trillion ($11.13 billion).

Profitability ratios like return on assets and return on equity will continue to be high at 1.9 per cent and 22.2 per cent. — VNS