HDBank opened its 350th branch in Vi Thanh City in the Mekong Delta province of Hau Giang on October 14. – Photo courtesy of HDBank

The HCM City Development Joint Stock Commercial Bank, or HDBank, opened a new branch on October 14 at 100-100A-100B Nguyen Thai Hoc Street in Hau Giang Province's Vi Thanh City, its 350th transaction point in the country.

The branch opening is part of plans to open 18 new transaction points in 2022, and increases the number of transaction points HDBank has in the Mekong Delta to 40.

To mark the opening, HDBank gave away high-value gifts to early bird customers.

It also donated VND80 million (US$3,500) for building houses for 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 less than 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.