Saigon – Hanoi Bank (SHB) has recently announced its consolidated financial statements for the first 6 months of 2022 with impressive business results. Profit before tax reached nearly VND 5.9 trillion, up 84% over the same period in 2021, completing over 50% of the plan set by the General Meeting of Shareholders.

SHB continues to maintain its position in the Top 5 most profitable private commercial banks

Accordingly, by the end of June 30, 2022, SHB’s total assets reached VND 522,131 billion, completing 91.7% of the 2022 plan. Charter capital reached VND 26,674 billion, equity capital reached VND 58,763 billion, capital adequacy ratio according to Basel II standards reached nearly 12%, credit rating by Moody’s was B1 – with positive outlook. SHB’s total mobilized capital reached VND 471,160 billion, credit balance reached VND 390,554 billion, both targets completed 93% of the 2022 plan.

SHB’s basic financial indicators all increased compared to the same period in 2021, bringing SHB’s profit before tax in the first half of 2022 to nearly VND 5.9 trillion (up 84%), total net income from business activities reached nearly VND 9.5 trillion (up 113%).

In particular, SHB has strictly controlled operating costs and is one of the best cost control joint stock commercial banks in Vietnam’s banking system.

It is expected that in the third quarter, SHB will be licensed by the State Bank to complete the transaction of selling Saigon – Hanoi Bank Finance Company Limited (SHBFC), expected to yield a significant capital surplus in 2022 and in the next 3 years, contributing to improving the financial capacity and position of SHB.

With positive business results in the first half of 2022, SHB’s target of total profit of at least VND 11,686 billion in 2022 is completely satisfactory.

Previously, at the 30th General Meeting of Shareholders, SHB set a target of total assets growth of over 12%, charter capital growth of 37% compared to 2021; minimum pre-tax profit of VND 11,686 billion, up 87%; Expected dividend in 2022 is from 18%.

Besides business development, SHB always focuses on customers and responsibility to the community and society. SHB is one of the joint-stock commercial banks that implemented the policy of providing interest rate support to customers who are enterprises, cooperatives, and business households that satisfy the conditions specified in Decree No. 31/2022/ ND-CP. Previously, from 2020 to 2021, in the context of the Covid-19 pandemic, SHB actively accompanied businesses to overcome difficulties through credit packages of more than VND 30 trillion, implemented debt restructuring and was one of the commercial joint stock banks with highest interest reduction to support customers.

Strength from governance and digital transformation

2022 is a year marked with key milestones, also the year that SHB focuses on implementing 4 strategic pillars, including: Institutional and mechanism reform; Consolidation of organizational structure and personnel; Customer-centricity; and Placing foundation of information technology and digital transformation, thereby creating momentum for sustainable development.

As part of the roadmap to consolidate the senior leadership, towards the strong growth target in line with SHB’s medium and long-term strategic orientation, recently, SHB has appointed Dr. Ngo Thu Ha to hold the position of Acting Chief Executive Officer of the Bank.

The Board of Directors of SHB expects that with her high expertise and extensive experience in the fields of finance and banking, Ms. Ngo Thu Ha will accompany the Board of Management and all employees to help SHB realize its goal of becoming a leading bank in the next 5 years in terms of efficiency, applying leading modern technologies and being favorite digital bank. In its vision up to 2035, SHB will rank among the top modern retail banks in the region, becoming an investment bank providing the most effective capital for key sectors of the Vietnamese economy.

“With the principle of serving from the heart, SHB will make every effort to implement and realize the strategies and goals set by the General Meeting of Shareholders, and at the same time bring maximum benefits to customers, partners and shareholders. In the coming time, SHB will continue to develop strongly, safely, sustainably, strictly comply with the provisions of the law and the State Bank, move towards international standards, and bring SHB to the regional level.” – Ms. Ngo Thu Ha – Acting CEO of SHB – affirmed the high determination of the Board of Directors as well as of all employees of SHB.

Defining human resources as one of the prerequisites to create a solid bounce, SHB has been strongly implementing reforms in human resource management, promoting decentralization, empowerment, and creating opportunities for employees to proactively maximize their strengths and creativity in work, as well as providing training to improve labor skills and expertise. The personnel remuneration regime is also attractively developed by SHB to attract talents and motivate employees.

Besides the human factor, digital transformation is one of SHB’s strategic pillars. The Bank has been focusing on building a digital corporate culture, investing in IT systems, researching and applying technology synchronously. SHB takes full advantage of the role of 4.0 connection and working tools to save time, costs and increase employee productivity. At the same time, the digital transformation helps the Bank improve customer data management, thereby successfully develop many digital products and create a digital transaction space across the system, bringing customers customers and partners the fastest and most complete experiences, products and services.

SHB will continuously cooperate with the world’s leading strategic consulting groups such as BCG, IFC, IBM, etc. to implement comprehensive solutions to improve business efficiency through innovating business models, promoting information technology system, developing digital banking products and services that are modern and suitable to the needs of customers and the market.

In addition to striving to fulfill the business goals set by the Annual General Meeting of Shareholders, SHB will focus on exploiting all resources for development, increasing maximum benefits for shareholders and customers.