According to information from HCM City Stock Exchange (HoSE), two senior leaders of HCM City Development Commercial Joint Stock Bank (HDBank, stock code: HDB) have recently registered to buy an addition of 1.5 million HDB shares for investment purposes.
Specifically, Nguyen Huu Dang, vice Chair of HDBank’s Board of directors (BOD) registered to buy one million shares and the bank’s Finance director Pham Van Dau registered to buy an addition of 500,000 HDB shares. The transaction time is expected from April 20th to May 19th 2020.
It is known that the bank’s major shareholder Sovico is also proceeding to apply for permission from the management authority to buy more shares.
Closing the trading session on April 16th, HDB share price stood at 20,950 dong per share.
HDB is considered as a stock with good foundation and growth prospect. In 2019, the bank recorded a pre-tax profit of 5.018 trillion dong, up by 25.3 percent compared to 2018. The bank’s Return on Average Equity (ROAE) and Return on Average Assets (ROAA) were respectively 21.6 percent and 1.8%. HDBank also controls well the credit quality with a low level of bad debt ratio. Recently, the credit rating agency Moody’s announced the maintenance of HDBank’s credit rating at B1 level.
In a recent market report, some securities companies assessed HDBank to have promising service sector. Particularly, bancassurance and credit card segments are considered having large room for growth, possibly are the new catalysts for growth. The bank’s bancassurance is promising a lot of potential on the basis of its own customer ecosystem.
