Recently, the State Securities Commission of Vietnam (SSC) has issued Letter No. 700/UBCK-QLCB announcing the receipt of the report on successful issuance of 83,927,010 shares to pay dividends of Saigon – Hanoi Bank Commercial Joint Stock Bank (SHB). Accordingly, SHB’s chartered capital has increased to more than VND12,036 billion, confirming SHB’s financial strength as well as its management capacity while enhancing its competitiveness in the course of international economic integration.
The increase in charter capital helps SHB enhance its capital utilization, expand lending and develop its network to better meet customers’ needs. The increased capital will also help the Bank to improve its facilities and modernize technology to facilitate its management and develop modern and diversified products and services to meet competitive requirements in the current context of banking industry.
SHB’s Chief Executive Officer Nguyen Van Le said: “The issuance of shares to increase SHB’s charter capital is a necessary and significant step in order to improve management capacity, enhance competitiveness of SHB during the course of international economic integration. This is one of important factors for SHB to achieve its goal of becoming a leading multi-functional retail bank in Vietnam following international standards, gradually taking the trend of Industry 4.0 with diversified and superior products and services.”
Increasing chartered capital is one of important factors for SHB to achieve its goal of becoming a leading multi-functional retail bank in Vietnam following international standards.
In recent years, SHB has continued to grow strongly in terms of business scale and operations. As of 31/12/2017, the Bank’s total assets reached VND277,994 billion while its owner’s equity reached VND17,829 billion, which continued to affirm its position among Top 5 largest private joint-stock commercial banks in Vietnam. In 2017, total pre-tax profit of the Bank was VND1,938 billion, increasing by 66% YoY and surpassing 11% of the year plan.
With the safe and effective growth together with continuous improvement of financial capacity and management capacity, SHB is one of the few banks which are permitted to expand operation network continuously. Recently, the Governor of the State Bank of Vietnam (SBV) has approved SHB’s establishment of 5 new branches in Son La, Hai Duong, Nam Dinh, Binh Thuan and Vinh Long. In addition, SHB is allowed to open 20 new transaction offices under SHB branches nationwide. Previously, in 2017, five new branches of the Bank were also put into operation in Ha Nam, Ha Tinh, Binh Dinh, Tay Ninh and Dak Lak.
Currently, with a network of nearly 500 transaction offices in Vietnam, Laos and Cambodia, SHB is serving nearly 4 million individual and corporate customers. SHB’s transaction network meets modern banking standards, providing synchronous banking services and facilities and bringing good transaction experience to customers. Besides traditional transaction points, SHB also provides customers with many convenient transaction channels such as internet banking, SMS banking, mobile banking, phone banking, etc. anytime anywhere.