The State Bank of Vietnam (SBV) has amended the charter capital details in the Establishment and Operation License of Saigon – Hanoi Commercial Joint Stock Bank (HoSE: SHB). As a result, SHB’s charter capital is now recorded at 36,629,085,420,000 VND.
The State Bank of Vietnam (SBV) made the decision following the successful issuance of over 43.5 million shares under the employee stock option program (ESOP). Now recorded at over 36,629 billion VND, SHB remains firmly in the Top 4 largest private commercial banks in the system. This robust capital foundation supports the bank’s plans to further increase charter capital in 2024, as approved by the General Meeting of Shareholders.
Specifically, SHB’s 2024 General Meeting of Shareholders approved a 2023 dividend yield of 16%, consisting of 5% in cash and 11% in shares, increasing the charter capital to VND 40,658 billion. The bank also plans to pay 2024 dividends at a rate of 18%, with targets for total assets to exceed VND 701,000 billion and pre-tax profit to rise by 22%, reaching VND 11,286 billion.
With a strong financial foundation and a respected international market position, SHB has secured the 137th spot in Fortune Magazine’s list of the 500 largest companies in Southeast Asia (Fortune Southeast Asia 500). Furthermore, SHB holds the 17th position among Vietnamese companies, underscoring its significant presence in the regional financial landscape.
During 2024-2028, SHB is directing its resources towards implementing a comprehensive Transformation Strategy built on four pillars: Institutional Reform, People-centricity, Customer-centricity, and Modernized IT platform and digital transformation. This strategic approach is bolstered by steadfast adherence to six core cultural values: “Heart – Faith – Trustworthiness – Knowledge – Wisdom – Greater Heights”
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 and ecosystem.