HDB_4Q24 analyst meeting takeaways

HDB’s 4Q24 PATMI decreased by -9% QoQ/-7% YoY due to an increase in opex and provisioning.

But full-year PATMI jumped by +27% YoY, largely on strong net-II growth, to fulfill 98% of our forecast. HDSaison’s PBT reached VND1.2 tn (+84% YoY), contributing 7.2% to HDB’s consolidated PBT in 2024 (versus 5.1% in 2023). HDB targets 2025 PBT growth of 25% YoY.

For the full report, please access here: HDB_4Q24_Analyst Meeting

Analyst: Tanh Tran, tanh.tran@yuanta.com.vn