In the afternoon of April 23, 2019, at Melia hotel, Saigon-Hanoi Commercial Joint Stock Bank (SHB) successfully organized the 27th General Meeting of Shareholders with a number of shareholders representing 676,377,385 shares, accounting for 56.22% of total eligible shares for attending the General Meeting. The General Meeting approved all important resolutions in 2019 including Digital Banking Strategy, IT Master Plan, charter capital increase to VND 17,570 billion; network expansion to the Republic of Cote D’Ivoire… Mr. Le Quang Huy – Deputy Director of Department I, Hanoi City Banking Supervision Agency – attended and delivered a speech at the meeting.

At the General Meeting, shareholders voted to approve the plan of SHB’s Board of Directors to increase charter capital to VND 17,570 billion, equivalent to an increase of VND 5,534 billion from distribution of stock dividends and from issuance of stocks to the public. Ratio of stock dividends is 21% of which 10% is for 2017 and 11% is for 2018. The increase of charter capital aims at achieving Basel II standards by 2020 at the latest, raising financial capacity to expand lending scale, investing in information technology, hiring the world’s leading technology corporations to consult and evaluate, getting ready for digital transformation journey and becoming a modern, multi-functional retail bank with modern financial products and services on high technology platform.

With the goal of being in the top 3 largest private commercial banks in Vietnam and attaining Basel II standards, in addition to improve governance and risk management, SHB focuses on investing in technology application, digital banking strategy,… reducing operating costs, increasing labor productivity, developing vigorously retail banking, maximizing advantages and potentials of SHB Consumer Finance Company (SHB FC). At the same time, SHB will also leverage on its existing big corporate customer base and the ecosystem/value chain surrounding those big corporate customers which includes both SME and household businesses on a new technology platform.

Mr. Nguyen Van Le – CEO of SHB reported business results of 2018 and operation plan for 2019 with the targeted pre-tax profit growth of 46.51%.

SHB aims to achieve VND 3,068 billion in pre-tax profit, up 46.51% compared to 2018. This will be a strong profit growth in 2019. In addition, SHB plans to establish a subsidiary bank in the Republic of Cote D’Ivoire to expand network to the African market. This plan not only supports Vietnamese importers and investors in the Republic of Cote D’Ivoire but also promotes trade and investment between Vietnam and African countries.

Mr. Le Quang Huy, Deputy Director of the Department 1 – Hanoi City Banking Supervision Agency recognized and highly evaluated the business results of SHB in 2018, especially in resolution of bad loans.

With a solid business  foundation, SHB has set up a business plan for 2019 and obtained approval of the General Meeting of Shareholders as follows:

Previously, Mr. Nguyen Van Le – CEO of SHB reported to shareholders about business results of 2018. It was the 25^th anniversary of SHB, marked with many outstanding achievements. Customer loan growth and customer deposit growth rates were higher than sector average. Prudential ratios complied strictly with regulations of the State Bank of Vietnam, and getting closer to international standards. SHB‘s credit ratings by Moody’s has been at par with major banks in Vietnam. SHB has been selected  by Vietnamese ministries and prestigious international organizations such as the World Bank (WB), Asian Development Bank (ADB), Japan International Cooperation Agency (JICA), Germany Reconstruction Bank (KFW), etc. to be a servicing bank and/or an on-lending bank for many large ODA projects.

Shareholders were interested to question about capital raising exercise to meet Basel II standards, investing in technology, dividend payment plan…

In 2018, SHB recorded total assets of VND 323,276 billion, an increase of 13%, total mobilized fund reaching of VND 300,565 billion, loans to customers of VND 231,474 billion, up by 15%, and profit before tax of VND 2,094 billion. Besides completion of business targets, customer experience and satisfaction has also been enhanced thanks to improved products and services.

In its strong retail banking strategy, SHB has built a transformation roadmap to become a digital bank. According to this roadmap, within 5 years, SHB will focus its resources on the following projects: Customer Centricity, Big Data, Digital, Process Optimization, Technology Infrastructure, and IT Operating Model. In order to implement this IT master plan, in 2018, SHB has kicked off those projects.

The Presidium also addressed concerns and questions of shareholders in an open and straightforward way

Addressing at the General Meeting, Mr. Le Quang Huy, representative of Hanoi City Banking Supervision Agency spoke highly of SHB’s impressive business performance. SHB is now one of 16 Vietnamese DSIB (Domestic Systematically Important Banks); and it has completed objectives under the SBV’s Banking Sector Restructuring Plan 2016-2020 and resolutions of its General Shareholders Assembly. SHB was awarded the Second-Class Labor Medal for the second time and many other noble awards by the Party and the State of Vietnam.

Shareholders voted and approved Resolutions of the 27th Annual General Shareholder Meeting of SHB.

The 27th General Meeting of Shareholders was a great success. Attending shareholders approved all Resolutions with an approval rate of 96%. Chairman of SHB’s Board of Directors, Mr. Do Quang Hien committed: SHB will do its best to fulfill business targets set by the General Meeting of Shareholders, affirming its position in the country and internationally, maximizing shareholders’ benefits.