Ayudhya Public Company Limited (Krungsri), a member of Japan’s MUFG Group, has proposed to Saigon – Hanoi Commercial Joint Stock Bank (SHB) the early acquisition of the remaining 50% of charter capital in Saigon – Hanoi Commercial Joint Stock Bank Finance Company Limited (SHBFinance). This move will bolster SHB’s financial resources and enhance its market position.

On November 5, 2024, SHB announced the Resolution approving the transfer. This marks the second phase of the agreement between SHB and Krungsri signed on August 2021, where SHB agreed to sell its entire stake in SHBFinance over two phases. In May 2023, SHB transferred the initial 50% to Krungsri, converting SHBFinance into a limited liability company under the State Bank of Vietnam’s new decision and banking license of the State Bank of Vietnam.

SHB expects the complete divestment to strengthen shareholder value and support its strategic focus on core business areas and digital transformation. This transformation includes investing in technology-driven services, expanding its retail offerings, and modernizing operations for new growth opportunities.

For the first nine months of 2024, SHB reported a pre-tax profit of VND 9,048 billion, achieving 80% of its annual target, with total assets of VND 688,387 billion—a 9.2% increase from the end of 2023. The bank’s return on equity (ROE) reached 22.8%, placing it among industry leaders. SHB’s capital adequacy ratio (CAR) exceeded 11.8%, above regulatory requirements, reinforcing operational stability.

SHB’s 2024-2028 strategy emphasizes innovation, digitalization, and customer-centric services. Leveraging technologies like AI and machine learning, SHB has digitized 90% of essential banking functions and facilitated 92% of transactions via digital platforms. This commitment positions SHB as a top player in efficiency, with a cost-to-income ratio (CIR) of 24.68%, the lowest in the industry.

SHB has set its strategic objectives: to become The Most Efficient Bank, the No.1 Digital Desirable Bank; the No.1 Retail bank, and also the primary provider of financial products and services to strategic corporate customers (both private and State-owned ones) with a green supply chain, value chain and ecosystem