Saigon -Hanoi Commercial Joint Stock Bank (SHB) has been honored by the International Finance Magazine as the “Most Innovative Bank in Vietnam” in 2014. SHB has been the first commercial bank in Vietnam to be awarded with this award so far.

International Finance Magazine (IFM) is a financial magazine based in London (UK), dedicated to providing news, analysis, and commentary for the global financial community. With a large readership in over 185 countries around the world, IFM magazine is very famous in world financial markets. In addition to providing financial news, the magazine also organizes awards for financial institutions globally to acknowledge the contribution of financial institutions in the development of the world financial markets. International Finance Magazine awards have become a benchmark to evaluate the performance and credibility of financial institutions. Many large financial institutions around the world have received awards from International Finance Magazine such as: Citibank, Bank of America Merrill Lynch, JP Morgan Chase, Wells Fargo, ANZ, Standard Chartered Bank, etc.

The award of “Most Innovative Bank” is selected based on the criteria of creativity and innovation in banking business operations, including innovation in products, distribution channels, choosing partners to link products, application of information technology in improving business performance, etc. Besides assessing information provided by the bank itself, the IFM’s   assessment process is conducted independently, based on the evaluation of information on the bank through third party sources, surveys from partners and customers of the bank, etc.

In 2014, based on applications on the core-banking system provided by the Polaris vender, SHB has had breakthroughs in product innovation, especially in application of information technology in design and distribution of products. SHB’s products such as ” SHB-Manchester City Visa co-branded debit card “, “online saving”, “adjusted saving with best interest rates”, “savings with floating interest rates”, “Sporting accounts”, ” online loan utility”, “Ez pay” online bill payment services, “mobile banking”, etc. have offered customers with the best utility, of which customers appreciate the creativity and innovation in satisfying their diverse requirements. Those products and services are trusted by customers with the increasing number of registrations.

With innovations in banking business, in the first 6 months of the year, SHB recorded growth of profit before tax of 25.9%, to VND 505 billion and growth of after tax profit of 32.2%, to VND 402 billion, credit growth of 19.6% with total loans of nearly VND 92 trillion, customer deposit growth of 20.6% with total deposits of nearly VND 110 trillion, total assets of VND 141 trillion.
As the only commercial bank in Vietnam to receive this award from this world well-known international finance magazine, SHB, once again, has proved its innovative capacity in banking, being highly recognized by customers and partners./.