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SHB aims towards becoming a top player in the banking system with powerful and comprehensive transformation


On April 11, 2023, in Hanoi, Saigon – Hanoi Commercial Joint Stock Bank (SHB) successfully held the 2023 Annual General Meeting of Shareholders (AGM). In the second year implementing the 2022 -2027 transformation strategy, SHB aims to become top performing bank, the leading retail bank and the most popular digital bank thereby fulfilling expected benefits of shareholders.

Amid the celebration of the 30th year establishment anniversary accompanying the country’s development, AGM of SHB this year reviewed the past year’s achievements as well as affirmed the determination to realize 2023 goals and the new phase’s development strategy.

The 31st Annual General Meeting of Shareholders of SHB

According to the reports of the Board of Directors (BOD) and Board of Management, in 2022, SHB made drastic transformation; core values continued to be strengthened to enhance prestige and market positions, increase benefits of customers, partners and shareholders.

As of December 31, 2022, SHB’s total assets amounted to nearly VND 551 trillion, consolidating its position in the Top 5 largest commercial joint stock banks in Vietnam, total market fund reached more than VND 407 trillion; credit balance reached almost VND 399 trillion; capital buffer equal VND 62,577 billion in compliance with Basel II standards.

Mr. Do Quang Hien – Chairman of the BoD at the 31st AGM of SHB

Business performance of SHB kept improving as pre-tax profit amounted to VND 9.689 billion equivalent to 55% year-on-year increase; Return on equity (ROE) ratio reached 24.7% among the top most effective commercial banks in Vietnam; Cost-to-income ratio (CIR) of 22.7% leading the market’s operating efficiency.

SHB’s safety, liquidity, and risk management indicators all exceeded those prescribed by the State Bank of Vietnam and international standards. In 2022, SHB also prepared to adopt the Foundation Internal Rating based approach (FIRB), apply International Financial Reporting Standards (IFRS) and meet the Basel III standards on liquidity risk.

With the above-mentioned achievements, SHB’s AGM approved the dividend payment plan in 2022 at the rate of 18% together with the plan to increase charter capital to more than VND 36,600 billion, confirming the position in Top 5 commercial joint stock banks in terms of charter capital. SHB, during its operation, is one of the banks with the highest and most regular dividend payout ratio in the market.

In 2022, many projects on digital transformation and promotion of digitization implemented by SHB in the past year have created a driving force to promote the goal of optimizing operation processes, enhancing customer experience, increasing the efficiency of service development and modern retail bank strategy.

With unremitting efforts in strengthening financial capacity, promoting efficiency in business, SHB’s reputation and position has been recognized and appreciated by international organizations. In 2022, Moody’s has rated SHB at B1, positive outlook. Many large financial institutions such as WB, ADB, IFC, KfW… have promoted cooperation with SHB through grants and investments with the total value up to hundreds of million USD.

The accomplishments in 2022 served as an important basis for the SHB brand to make an impressive leap, rising 36 places in the ranking of the Top 500 most valuable banking brands in the world, according to Brand Finance first announced in 2023.

Further promoting achievements in 2022, SHB has actively implemented many social activities, many incentives and customer support programs, as well as pioneered in the programs led by the Government and State Bank of Vietnam, especially in the development of green credit, prioritized credit.

Improve operational safety and efficiency, increase benefits for shareholders

In 2023, marking the 30th year of its establishment, SHB shall be devoted to realizing the strategic goals, creating momentum for the next stage of development. 2023 is also the second year of SHB implementing 2022-2027 transformation strategy.

The AGM extensively discussed topics of shareholders’ interests such as business goals, business strategy and corporate governance in 2023

Therefore, AGM of SHB emphasized on improving operational safety and efficiency, moving towards higher international standards, continuing to promote digital transformation, strengthen human resources and strongly develop corporate culture. SHB will continue to improve the quality and competitiveness of products and services on the market, enhance customer experience, and increase operational efficiency and benefits for shareholders.

Ms. Ngo Thu Ha – CEO of SHB answered shareholders’ questions

With a high consensus rate, the resolution was approved at the AGM, in which major financial indicators in 2023 include: total assets of about VND 600,000 billion; charter capital of over VND 36,600 billion; profit before tax of over VND 10,200 billion; capital adequacy ratio (CAR) more than 12% according to Basel II standards; strictly control non-performing loan ratio below 2%; expected dividend rate of 15% and therefore charter capital equivalent to more than VND 40,000 billion

In the first months of 2023, SHB has accelerated the implementation of planned targets and continued to record important additional resources. With the approval of the State Bank of Vietnam, SHB has been taking necessary steps to expedite the plan to transfer SHB Finance shares to Krungsri Bank Thailand (a strategic member of MUFG Group, Japan). . This transaction is expected to bring a significant capital surplus to shareholders.

Shareholders voted to approve reports and resolutions of the AGM and elected new members of the BOD of SHB for the term 2022 – 2027

Reporting at the General Meeting, the BoD and the Board of Management (BoM) mentioned that in 2023, the Bank will promote investment, implement many new projects, and concretize many initiatives in information technology and digital transformation. In particular, a completely new platform for Digital Banking with the brand name SHB SAHA will be launched soon this year, creating an important transition in the strategy of becoming the most popular digital bank in 2027.

Simultaneously, SHB’s network system in 2023 is expected to expand with 5 more new branches and 25 new transaction offices, consolidating its position as a leading bank with expansive operation in Indochina region.

The AGM of SHB also clearly defined a transformation focus in 2023 and for the next period is consolidating and further developing the human resources. The 2023 AGM also approved the Board of Directors structure for the term 2022-2027, and elected new members, including: Ms. Ngo Thu Ha – Member of the BoD cum Chief Executive Officer of SHB; Mr. Do Duc Hai – Member of the BoD cum Deputy CEO of SHB; Mr. Pham Viet Dan – Member of the BoD cum Deputy CEO; Mr. Haroon Anwar Sheikh – Independent member of the BoD .

The BoD for the term 2022 – 2027 greeted the AGM

In line with business targets, through the 2023 AGM, SHB continues to clearly define its mission as a “Reliable partner” and always brings the “most suitable solution” to customers, ensuring shareholders’ interests. The Bank continues to stick to the “4 pillars” with strategic orientation for comprehensive and drastic transformation for the period of 2022-2027, including: Reform policies, regulations and procedures; Reinforce organization structure and personnel; Customer-concentricity; IT platform and digital transformation.

With the action guideline of taking Heart as the root to reach Prestige, SHB will continue its 30-year journey with the goal of become the most effective commercial bank in Vietnam in the next 5 years.

*The reports and resolutions at the 2023 Annual General Meeting of Shareholders are published  in the “Investors” section on the website www.shb.com.vn