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BUSINESS RESULTS IN 2023
BUSINESS RESULTS IN 2023
GREEN CREDIT
GROWING TOGETHER
03
BUSINESS RESULTS IN 2023
OVERVIEW OF BUSINESS RESULTS IN 2023
The year 2023 ended in tough economic conditions, with challenges and difficulties outweighing opportunities and advantages. In spite of this, HDBank still observed sustainable growth and development according to the Bank’s strategic goals, continuing to affirm its position and reputation.
THE BANK’S TOTAL ASSETS REACHED
VND602,315billion
45% compared to 2022, achieving 116% of the plan
- The Bank’s total assets reached VND 602,315 billion, an increase of 45% compared to 2022, achieving 116% of the plan, continuing a decade of high and sustainable growth.
- Owner’s equity reached VND 46,400 billion. In particular, charter capital increased from VND 25,303 billion to VND 29,076 billion through the issuance of shares to pay the 2022 dividend (a payout ratio of 15%).
- Total outstanding credit balance reached VND 353,441 billion, an increase of 32% compared to 2022, achieving 106% of the plan and in line with the credit growth target set out by the State Bank of Vietnam. HDBank’s credit growth in 2023 is higher than the sector average, directed towards prioritized sectors and fields, serving as a driving force for economic development.
- Total deposits reached VND 536,641 billion, increase of 47% compared to 2022, achieving 117% of the plan, in which mobilization from economic organizations and individuals reached VND 421,716 billion, an increase of 62% YOY, achieving 128% of the plan affirming HDBank’s prestige, market position, and customer trust.
HDBANK’S PROFIT BEFORE TAX WAS
VND13,017billion
27% compared to 2022
- HDBank’s profit before tax was VND 13,017 billion, an increase of 27% compared to 2022. In which, net interest income reached VND 22,184 billion, an increase of 23% compared to 2022 while Net Interest Margin (NIM) decreased slightly from 5.16% to 5.13%. Non-interest income reached VND 4,230 billion. Credit cost and operational cost were controlled reasonably in compliance with regulations.
- The return on average asset (ROAA) and return on average equity (ROAE) were 2.03% and 24.2%, respectively, placing HDBank among top banks in terms of profitability.
- Capital adequacy ratio (CAR, Basel II) was 12.6%, higher than the SBV’s minimum threshold of 8%.
- Customer base reached 17 million, with the number of customers transacting on e-banking channels increasing by 86% compared to 2022. Digital banking products and services are well-received by the market.
HDBank, together with other commercial banks, actively supported economic recovery by launching various enabling programs and solutions to help customers overcome challenges.
- HDBank launched a preferential credit package of VND 5,000 billion with attractive interest rates of only 7.5% - 8.0%/year to support businesses before the year-end peak production season.
- Other programs included the credit package “Sharing for doing business with confidence” totaling VND 40,000 billion with lending interest rate reduced by 2%/year; the Swift SME credit package of VND 20,000 billion under the program “Timely capital - Enable business”; the VND 30,000-billion credit package “Unlocking capital sources for your development” which reduced interest rates by 1.5-2%/year compared to the announced interest rates; and preferential credit package for women-led enterprises.
- HDBank launched the program “New loans, happy life with 0% interest rate” totaling up to VND 10,000 billion with 0% interest rate for the first month, targeting new borrowers/existing customers applying for loans, retail customers, payroll corporate customers, and SMEs.
- HDBank implemented the interest rate support program following Decree No. 31/2022/ND-CP of the Government, with the HDBank’s total interest rate equivalent amount reaching over VND 6,000 billion.
- In addition, from the second quarter of 2023, HDBank committed to reducing costs, dedicating a budget to support interest rate reduction of 0.5-2.5%/year for existing customers.
Key performance indicators
(Unit: VND billion, %)
| INDICATORS | 2021 | 2022 | 2023 |
|---|---|---|---|
| 1. Capital | |||
|
Charter capital |
20,073 | 25,303 | 29,076 |
|
Total assets |
374,612 | 416,273 | 602,315 |
|
Capital Adequacy Ratio (CAR) |
14.3% | 13.4% | 12.6% |
| 2. Business Results | |||
|
Total deposits (separate) |
2,505,144 | 3,442,169 | 4,071,397 |
|
Total credit (separate) |
236,467 | 281,843 | 343,919 |
|
Loan collection (separate) |
210,725 | 224,660 | 263,619 |
|
Overdue loan |
8,698 | 11,791 | 24,165 |
|
Non-performing loan |
3,360 | 4,404 | 6,160 |
|
Overdue guarantees/total outstanding guarantees balance ratio |
0.01% | 0.02% | 0.04% |
|
Overdue loan/total credit |
4.28% | 4.47% | 7.04% |
|
Non-performing loan/total credit |
1.65% | 1.67% | 1.79% |
| 3. Liquidity Ratio | |||
|
Current ratio |
14.0% | 15.2% | 22.47% |
|
Overall liquidity ratio |
74.32% | 61.4% | 87.14% |
ACTUALS VS. PLAN
HDBank achieved encouraging business results in 2023, meeting or even exceeding the set targets.
(Unit: VND billion, %)
| Items (Consolidated) | 31/12/2022 | 31/12/2023 | The 2023 plan approved by the General Meeting of Shareholders | % Actual vs Plan 2023 |
|---|---|---|---|---|
| Total assets | 416,273 | 602,315 | 520,024 | 116% |
| Charter capital | 25,303 | 29,076 | 29,276 | 99% |
| Owner’s equity | 38,995 | 46,400 | 47,300 | 98% |
| Total deposits(*) | 366,293 | 536,641 | 459,398 | 117% |
| In which: Customer deposits and valuable papers | 259,959 | 421,716 | 330,459 | 128% |
| Total credit | 268,157 | 353,441 | 333,553 | 106% |
| Non-performing loans(**) | 1.67% | 1.79% | ≤ 2% | Pass |
| Profit before tax | 10,268 | 13,017 | 13,197 | 99% |
| Profit after tax | 8,209 | 10,336 | 10,558 | 98% |
| ROE after tax | 23.5% | 24.2% | 24.5% | 99% |
| ROA after tax | 2.08% | 2.03% | 2.3% | 90% |
(Source: FY2022 and FY2023 Audited consolidated financial statements)
(*) Total deposits include borrowings from the Government and the State Bank of Vietnam, customer deposits, valuable papers, trusted investment funds, deposit and lending from credit institutions.
(**) Non-performing loan ratio is calculated against loans to customer.
PROJECT INVESTMENT AND IMPLEMENTATION
Apart from existing multi-year capital contributions to HD SAISON, in 2023, HDBank made no new financial investments. Investments in strategic projects are included in the annual income and expense plan. The new headquarter construction project in Hi-Tech Park - Thu Duc City has been gradually put into use since 2023. This project uses modern, energy-efficient and environmentally friendly equipment in accordance with international standards and the smart building model. The new headquarter is intended to be a hub to connect major domestic and international businesses and technology giants with the aim of developing modern multi-feature technology solutions for the banking and finance industry and others.
HDBANK’S MARKET POSITIONING
Through 34 years of unwavering brand building and 10 years of innovation (2013-2023), HDBank has established its remarkable position as a leader in retail, SME, and consumer banking by having exceptional growth, low non-performing loans, and high efficiency among the industry’s top performers.
TOTAL ASSETS INCREASED TEN FOLDS, PIONEER IN BASEL III IMPLEMENTATION
Mr. Nguyen Van Hao - Deputy Chief Executive Officer of HDBank (on the far right) - representing HDBank, signed a cooperation agreement with the Trade Promotion Center for Agriculture and TikTok Vietnam to jointly implement the “One Commune, One Product” (OCOP) National Program
As of December 31, 2023, for the first time, HDBank’s total assets exceeded VND 602,315 billion, 7 times higher than that at the end of 2013, with a compound annual growth rate of 21.5% in the decade of innovation. Profits continued to set a new record of over VND 13,017 billion, increasing 26.8% year-on-year and 54 times higher than 2013 profits. The return on equity (ROE) of 24.2% and ROA of over 2% placing HDBank among the banks with the highest efficiency. At the same time, the capital adequacy ratio (CAR) reached 12.6%, while the standalone and consolidated non-performing loan ratios remain low at 1.5% and 1.8%, respectively, placing HDBank among the top performers in terms of capital adequacy and asset quality.
In July 2023, HDBank completed the comprehensive upgrade of Basel II to Basel III Reforms in all indicators. With the application of Basel III Reforms, HDBank aims to improve its financial capacity by applying a higher CAR than the minimum ratio required in Basel II, the Internal Capital Adequacy Assessment Process (ICAAP), and the Leverage Ratio, improve liquidity by applying LCR, NSFR, and improve the Internal Control System.
This critical step continues to affirm HDBank’s robust risk management foundation in operations, meeting international standards, enhancing reputation and competitiveness in the market.
PROMOTE AGRICULTURAL AND RURAL DEVELOPMENT
Bringing modern financial and banking products and services to customers in tier 2 cities and rural areas has been a key strategic focus of HDBank for many years, in line with its sustainable development strategy. The first step in this strategy was taken in 2013 with the successful merger of Dai A Commercial Joint Stock Bank, expanding the branch network and customer base in Southeast, Southwest, Central and Central Highlands regions, while also enhancing financial capacity and product and service delivery capabilities. Also in 2013, HDBank acquired 100% of consumer finance company Societe Generale Viet Finance, a subsidiary of Societe Generale (France), to expand its customer base to low-income and creditconstrained individuals in tier 2 cities and rural areas across the country.
Over the past decade, HDBank has gradually affirmed its position as a leading bank in the region through a strong increase in the number of customers, branch network, and the scale of outstanding loans for agriculture and rural areas. Currently, over 60% of HDBank’s branches and transaction offices are located in tier 2 cities and rural areas. More than 2.3 million customers out of the parent bank’s total of 4.3 million customers come from this region. The total outstanding loans of customers in rural and tier 2 areas in recent years have consistently contributed 50%- 55% of the total outstanding loans of the whole bank with a non-performing loan (NPL) ratio lower than the general level, in which outstanding loans for the agriculture, forestry, and fishery sectors reached more than 7 times by the end of 2023 compared to 2013, growing faster than other industries.
HDBank is a pioneer in deploying comprehensive value chain financing, from farmers to agricultural product purchasing and processing enterprises to exporters. In addition to providing products and services, HDBank also cooperates with local authorities and partners to implement many programs to provide knowledge about financial and banking products and services, support farmers in getting acquainted with and applying e-commerce to promote and sell products on online platforms. At HD SAISON, the scale of total assets and outstanding loans has grown continuously, reaching more than 10 times over the past 10 years, the scale of outstanding loans in rural areas has also increased correspondingly, with an NPL ratio lower than the industry. The company’s operations not only contribute to HDBank’s overall business results but also help millions of people access credit, avoid the black credit trap, and contribute to improving their quality of life.
Embracing the digital transformation wave, HDBank emerged as a pioneer in 2023 by launching the HDBank Nông thôn - HDBank Rural Banking Mobile App specifically tailored for customers in rural areas. The application features a comprehensive suite of products and services, designed with simplicity and convenience in mind to cater to the unique needs of rural communities.
HDBank Nông thôn streamlines the loan application process and provides valuable support for local businesses and investment initiatives. Additionally, the service offers financial education programs, tailored advisory services, and assistance in managing personal and business finances. Within a short period since its launch, the application has garnered a substantial user base, attracting tens of thousands of partners and customers.
Moving forward, developing the agricultural and rural sector remains a central focus of HDBank’s sustainable growth strategy. The bank is committed to delivering longterm value and positive impact to its customers, partners, shareholders, and the broader community.
PIONEER IN DIGITAL TRANSFORMATION, ENABLING EXPONENTIAL GROWTH
HDBank is one of the pioneering banks in robotic operational automation, covering human resources and customer support, for optimized processes and reduced operating expenses. Over the past year, both Retail and Corporate customer journeys of HDBank were digitalized, covering various steps including account opening, credit card and term deposit account opening, online FX trading, and letter of credit issuance to shorten transaction time and improve customer experience.
HDBank is the first bank in Vietnam to cooperate with AWS - the global leading cloud computing service provider, a member of Amazon.com, to launch Amazon Elastic Kubernetes service to facilitate a comprehensive digital transformation.
In addition, HDBank is also the first adopter of Swift Go in Vietnam which is an important step forward for HDBank in international payment. This effort has been well recognized by international financial institutions via a series of prestigious awards.
The enhanced investment in a series of key digital transformation projects as well as agriculture and rural development from the previous years justifies HDBank’s high cost-to-income ratio (CIR), which is even higher than that of other commercial banks. HDBank’s 2023 digital transformation strategy has seen early achievements, achieving exponential growth in various aspects.
NUMBER OF CUSTOMERS TRANSACTING ON E-BANKING CHANNELS INCREASED
86
%
YOY
NUMBER OF FINANCIAL TRANSACTIONS ON E-BANKING CHANNELS INCREASED
132
%
YOY
PERCENTAGE OF CUSTOMER TRANSACTIONS CONDUCTED THROUGH DIGITAL CHANNELS
93
%
YOY
NUMBER OF NEW CUSTOMER REGISTRATIONS ON DIGITAL CHANNELS IN 2023 INCREASED
125
%
YOY
SOCIAL RESPONSIBILITIES INITIATIVES
Mdm. Nguyen Thi Phuong Thao - Permanent Vice Chairwoman of HDBank and a delegation of employees visited and presented gifts to SOS Children's Village Nha Trang
Along with vibrant business activities, HDBank proactively took on its social responsibilities, implementing programs on inclusive financial goals, contributing to promoting business growth.
In 2023, HDBank expanded its branch network by opening 15 additional branch offices, bringing the total number to nearly 360. This expansion has created employment opportunities for local residents and has facilitated easier access to credit and modern banking services for them.
Demonstrating its commitment to community development, HDBank prioritized social responsibility in 2023 by allocating tens of billions of VND to initiatives that improve the lives of local residents. These initiatives included contributing to infrastructure development through building charity houses, rural bridges, and restoring historical sites; advancing education through scholarships, school upgrades and construction, and donations to SOS children’s villages; and improving healthcare by providing health insurance cards, funding eye surgeries, and assisting with the purchase of dialysis machines. By expanding its branch network while strategically investing in social responsibility programs, HDBank has made a positive impact on the communities it serves.
2023 is the 7th year HDBank accompanies the HDBank National Futsal Cup
The year 2023 marked the 7th year of companionship between HDBank and the Vietnam Futsal Tournament. Along with the success of HDBank International Chess Tournament for almost a decade from 2011, the achievements of the Futsal Tournament over the past 7 years have contributed to bringing Vietnam closer to the international community, creating a bridge for better understanding about Vietnam through chess and football, which connect all races and nations.
These Futsal Tournaments have been of great help to Vietnam national teams, especially during the generation transition, by giving great opportunities for potential young players to compete and learn. The HDBank National Futsal Championship and Vietnamese National Futsal Cup will play a very important role in earning our National Team a ticket to the FIFA Futsal World Cup.
In the previous period, HDBank coordinated with FPT Corporation to contribute and join hands with the Ministry of Finance to handle network congestion on Hochiminh Stock Exchange (HOSE). As a result, after 3 months, the system developed by the two corporations was handed over and put into operation smoothly and safely on July 5, 2021, with a processing capacity 3-5 times greater than the legacy system. With this huge capacity (3-5 million orders/day), the new trading system will fulfill the demand of HoSE and the market for at least the next 3-5 years. At the same time, HOSE can completely master technology for future scale up.
40 prestigious titles and awards the well-deserved recognition for HDBank in 2023 - a year full of uncertainties for both domestic and international economies. One among these recognitions is the Certificate of Merit by the People’s Committee of Ho Chi Minh City for the Bank’s outstanding achievements in contribution to the State Budget, marking 5 consecutive years HDBank has ensured full compliance to tax regulations and made great contributions to the State Budget.
In 2024, the Bank will continue to follow the 2021-2025 strategy, realizing the goal of making HDBank a bank for every family, prioritizing green supply chains and agricultural - rural development.
2023 DIVISION BUSINESS PERFORMANCE REPORT
RETAIL BANKING DIVISION
Individual customer acquisition emerged as one of the areas with the highest breakout growth, experiencing a 90% YOY increase and surpassing the initial plan by 144%.
NEW INDIVIDUAL CUSTOMERS
900,000
customers
INDIVIDUAL CUSTOMER ACQUISITION
90%
YOY increase and surpassing the initial plan by 144%.
In 2023, the Retail Banking Division achieved outstanding results, exceeding its set targets for the year. Through a robust digital transformation journey, the Division acquired over 900,000 new individual customers (90% of whom have activated eBanking services). Customer acquisition through digital channels also grew at a rapid pace, driven by competitive offerings along with convenient and userfriendly features.
Individual customer acquisition emerged as one of the areas with the highest breakout growth, experiencing a 90% YOY increase and surpassing the initial plan by 144%.
COMMERCIAL BANKING DIVISION
Despite 2023 global and domestic economic challenges, the Commercial Banking Division continued to deliver exceptional results:
The Commercial Banking Division achieved 112% of its mobilization target, 121% of its outstanding loan balance plan, and nearly USD 9 billion in international payment volume, surpassing 100% of the target.
CORPORATE & INSTITUTIONAL BANKING DIVISION
Guided by a customer-centric approach, the Division focused on developing its customer ecosystem, cultivating value chains, leveraging existing strategic partnerships, and establishing new ones with major groups, corporations, and financial institutions all while developing products and services focused on Green Banking and Sustainable Digital Banking.
2023 was a year of success for the Corporate and Institutional Banking Division, demonstrated by its efforts in overcoming initial difficulties at the beginning of the year and seizing opportunities to successfully achieve its assigned targets. The Financial Institutions (FI) Department played a pivotal role in solidifying relationships with domestic and international FIs, thereby enhancing the Bank’s reputation as a trusted partner for FIs to increase their credit limits, which contribute to the growth of international payment activities and foreign exchange business across the Bank.
TREASURY DIVISION
In 2023, the Treasury Division faced significant pressure and risks both domestically and internationally, which had a direct influence on the Bank’s treasury business operations. HDBank’s Treasury Division has implemented flexible and timely policies to maintain and develop efficient and safe management of funds, foreign exchange business, and investments, while minimizing risks. The division has continuously solidified HDBank’s position and reputation in the treasury and capital markets, playing an active and proactive role in securing sources of funds, investment, and capital market transactions, while maintaining its position as one of the top banks in terms of transaction volume in the market.
In 2023, HDBank achieved several notable awards, including:
TOP3
in outright transaction of Government bonds on the Hanoi Stock Exchange.
Top Banks with largest FX matching volume with customers.
TOP3
in proprietary trading of Government bonds on the Hanoi Stock Exchange.
Market maker for credit institution bonds and interbank capital trading and FX matching
BANCASSURANCE DIVISION
In 2023, several events had a direct impact on the bancassurance sector as a whole, resulting in a slight deceleration in revenue from HDBank’s life insurance business in 2023 compared to the preceding year, 2022. In response to the circumstances, HDBank identified its primary objective as the enhancement of professional advisory services and the provision of a wide range of insurance products to cater to the different needs of its customers. In addition, HDBank introduced several reward and customer loyalty initiatives, to foster trust and satisfaction among its long-term customers.
In the year 2023, HDBank consistently maintained its position as one of the industry leaders for generating the highest figures from insurance premiums. This outcome could be attributed to the implementation of effective customer engagement strategies, in conjunction with the development of appealing promotional campaigns and incentives. These results in the especially challenging context of 2023 showed the confidence and preference of customers in the life insurance products offered by HDBank.
INFORMATION TECHNOLOGY AND DIGITAL BANKING DIVISION
The Information Technology and Digital Banking Division achieved notable accomplishments in 2023 by actively integrating digital business thinking into Information Technology offerings and systems. The Division made significant efforts to provide technology advancements to the Bank, resulting in important accomplishments like:
DIGITAL TRANSFORMATION HIGHLIGHTS
Surpassing
2 million
e-banking customers
Monthly active users (MAU) of the bank’s digital offerings increased by
87%
YOY
Total number of eBanking transactions increased by
132%
YOY
The percentage of customer transactions conducted through digital channels accounts for
93%
total transaction
The number of new customers acquired through digital channels in 2023 increased
125%
YOY
SUBSIDIARY OPERATION REPORTS 2023
HD SAISON has been one of the most profitable enterprises in Vietnam for several consecutive years
In 2023, global economic growth continued to slow down. Geopolitical tensions, natural disasters, and tightened monetary policies have narrowed down international trade, reduced demand for goods, and increased unemployment. This has had a serious impact on the Consumer Finance industry. The main customer segments of financial companies are manual laborers and low-income workers some of whom are now earning less, losing jobs, or even unemployed, etc. resulting in a negative impact on their capacity to make payments. The Consumer Finance market is in the midst of its worst crisis ever, with consumer loan demand falling and bad debts skyrocketing, causing a significant decline in profits for financial companies.
HD SAISON is not an exception to the industry-wide risks. In this context, HD SAISON has been flexibly adjusting its business strategy to overcome the market volatility, with the top priority of ensuring the safety of its business operations. As of December 31, 2023, HD SAISON’s total assets reached VND 17,593 billion, of which loans to customers reached VND 16,086 billion and the Company is always in compliance with operational prudential requirements under regulations of the State Bank of Vietnam. In particular, HD SAISON has always maintained a high capital adequacy ratio (CAR). The CAR at the end of 2023 was 22.5%, 13.5% higher than the minimum requirement of 9.0%. The nonperforming loan (NPL) ratio was controlled at 7.61%, one of the best in class in the industry.
Profit before tax in 2023 reached
VND 660 billion
More than
> VND 8.000 billion
of preferential loans was disbursed to workers in industrial parks and export-processing zones to improve their lives
In addition to ensuring the operational safety, HD SAISON has also implemented a number of initiatives to improve business efficiency. These include digital transformation and the integration of technology into business processes to optimize costs and improve workforce productivity. Furthermore, HD SAISON has minimized the impact of downtrend in credit quality across the Consumer Finance industry by effectively managing risks, targeting lending strategy to lower-risk customer segments, and giving higher ticket size only to those loyal customers whose have good repayment history. As a result, the Company’s before tax profit in 2023 reached VND 660 billion.
The membership of the Members’ Council, Board of Supervisors, and Chief Executive Officer of HD SAISON remains stable. The stability of the senior leadership team has enabled the Company to quickly unify its strategy and provide consistent guidance, thereby helping to develop its business activities:
The Members’ Council of HD SAISON is composed of experienced members in the banking and finance sector, with many years holding important leadership positions in domestic and international organizations. The Members’ Council of HD SAISON is the highest decisionmaking body of the Company and consists of the following 5 members:
(i) Mr. Kosuke Mori - Chairman of the Members’ Council
(ii) Mdm. Nguyen Thi Phuong Thao - Permanent Vice Chairwoman of the Members’ Council
(iii) Mr. Pham Quoc Thanh - Member of the Members’ Council
(iv) Mr. Nguyen Huu Nhan - Member of the Members’ Council and Chief Executive Officer
(v) Mr. Koji Sugahara - Member of the Members’ Council
With timely and proper guidance and direction of the Members’ Council, along with the determination and efforts of all employees, HD SAISON has achieved many successes in its business operations.
The Board of Supervisors monitors compliance with legal and charter regulations in the management and operation of the Company by its managers and executives. The Board of Supervisors of HD SAISON consists of the following 3 members:
(i) Mdm. Ho Thu Trang - Chief of the Board of Supervisors
(ii) Mr. Nguyen Xuan Hoang - Member of the Board of Supervisors
(iii) Mr. Takehiko Hayashi - Member of the Board of Supervisors
The day-to-day operations of the Company are managed by Nguyen Huu Nhan, the Chief Executive Officer, with the assistance of several Deputy Chief Executive Officer and department heads.
The Members’ Council and Executive Board of HD SAISON consistently align the Company’s development strategy with a long-term and sustainable approach. HD SAISON continues to implement core tasks, including:
- HD SAISON is committed to being a pioneer in digital technology, leveraging automation and artificial intelligence to the fullest extent in all its business and operational activities. This is all designed to increase productivity, reduce costs, improve profitability, and promote the expansion of consumer credit across the country, contributing to the enhancement of the material and spiritual living standards of the people, especially those with low and middle incomes.
- In line with the digital transformation trend and the Digital Transformation Plan of the State Bank of Vietnam, HD SAISON has set specific goals for its Digital Transformation Plan. HD SAISON’s activities are all geared towards improving service quality, enhancing customer experience at the lowest cost and fastest service time.
- In addition to focusing on customer service, HD SAISON also prioritizes the development of human resources as a top asset to ensure sustainable growth, not just for the next 10 years but even for the next 20 years. This can be achieved through intensive investment in training and development, as well as maintaining and promoting attractive compensation policies to acquire and retain talented personnel.
In 2023, HD SAISON continued to accelerate digital transformation in operations and product design, introducing numerous new initiatives to improve operational efficiency and meet the ever-increasing needs of customers.
HD SAISON focused on refining its website and mobile app, enabling customers to perform true digital loan or credit card application journeys. In 2023, the mobile app successfully disbursed over 129,000 loan applications and issued over 13,000 credit cards.
HD SAISON has implemented electronic signatures across all sales channels, facilitating secure and seamless transactions for customers. With this improvement, HD SAISON has optimized resources in verifying, storing, and securing loan contracts.
In addition, the application of eKYC and automated underwriting has also shortened the lead time for loan applications and credit card issuance.
Aiming to enhance customer experience, HD SAISON has closely collaborated with HDBank to provide an online payment account opening service integrated into the lending process, enabling customers to quickly and easily acquire online payment accounts.
Initial operational results have led to the opening of over 20,000 new online payment accounts. integrated has expanded partnership with Vietjet Air to develop the “Fly Now, Pay Later” service, an end-to-end online airline tickets platform. This product applies advanced technology, with a simple procedure, making it easy for customers to purchase airline tickets.
(integrated’s contributions to economic, environmental, and social developments)
Business development through financial support for consumers, along with a strong focus on social responsibility, are essential goals of HD SAISON’s operations. HD SAISON fulfills its social responsibility commitments through practical and meaningful actions that address specific needs:
EDUCATIONAL SCHOLARSHIP SPONSORSHIP
Maintaining educational support activities since 2016, HD SAISON continued to sponsor scholarships worth VND 60 million in 2023 for Duc Tri Secondary School in Ho Chi Minh City. The annual scholarship sponsorship package has over the years supported hundreds of students to continue their education.
PREFERENTIAL LOAN PACKAGE FOR TEACHERS AND DOCTORS
HD SAISON has been maintaining its preferential interest rate loan package exclusively for teachers, doctors, medical and educational staff, introduced in 2017, to address the consumer loan needs of individuals who have made contributions to building and developing the future generation as well as protecting and maintaining the community’s health.
BRINGING CONSUMER FINANCE CLOSER TO THE PEOPLE
Continuously expanding service network, HD SAISON now has over 24,000 service points across the country. By expanding its presence, the Company is supporting people to easily access its professional consumer finance services.
SPECIAL PREFERENTIAL LOAN PACKAGE FOR WORKERS NATIONWIDE
Since 2022, HD SAISON has had the honor to be selected by the Government and the State Bank of Vietnam, together with another financial company, to implement a VND 20,000 billion loan package for workers across the country with interest rates just half of the market prevailing rates. This is the largest loan package ever provided by a consumer finance company, under which workers can apply for loans completely digital through the application. As a result, HD SAISON has also supported workers to access a comprehensive digital consumer loan service with many utilities.
Through this loan package, together with the support of the Vietnam General Confederation of Labor, HD SAISON has brought conventional credit into the lives of workers, helping many working families stabilize their daily lives and improve their life quality. This shows the practicality and timeliness of the loan package for workers during the economic recovery period, particularly as an effort to keep them away from illicit credit practices.
So far, HD SAISON has and will continue to expand the coverage of this preferential loan package to workers in provinces and cities across the country. HD SAISON has disbursed such preferential loans to 54,000 workers. Non-profit loan package of VND 10,000 billion exclusively for workers.
DESIGNING CONSUMER LOAN PACKAGES THAT BRING MORE BENEFITS TO CUSTOMERS
While loan repayment is the borrower’s responsibility, HD SAISON has developed loan packages that were designed to encourage customers to make timely payments. Thereby, customers can receive a monthly cashback if they make full and timely or early payments. Typically, the VND 36 million-Cashback Loan Package has been applied to motorcycle loans or the VND 12 million-Gift Loan Package for electronics, home appliances, and other products. These loan packages not only offer tangible benefits but also support customers to maintain a good credit history, ensuring that they continue to have access to credit from reputable lenders in the future.