On April 22, Saigon – Hanoi Bank (SHB) successfully held its 2025 Annual General Meeting of Shareholders (AGM) at the Melia Hotel in Hanoi, with the attendance of thousands of shareholders and authorized representatives. Amid a period of bold and comprehensive transformation, SHB continues to thrive and elevate its market position. The Bank is firmly advancing toward achieving its strategic objectives and business plans, ensuring maximum benefits and meeting the high expectations of its shareholders and investors.
Shareholders delighted by impressive business performance
SHB’s AGM consistently draws significant attention from shareholders and investors alike. The Bank is currently among the top in the market in terms of shareholder base, with over 100,000 shareholders.
At this year’s AGM, SHB shareholders expressed great enthusiasm and pride in the bank’s continued breakthroughs and outstanding achievements across various areas – from strong business performance to meaningful contributions in culture, sports, and social welfare. These accomplishments further affirm SHB’s reputation, position, and commitment to sustainable growth throughout its 32-year journey alongside the nation.
Speaking at the AGM, shareholder Mr. N.D.T shared his heartfelt thoughts:
“I truly believe my investment in SHB has been well worth it. I’ve attended many shareholder meetings, but SHB’s is always the most enjoyable because the Chairman and the leadership team genuinely listen to shareholders. I also want to congratulate SHB for not only meeting but exceeding its targets, and for successfully paying dividends in both cash and shares – a clear testament to its operational effectiveness and shareholder focus.”
Overview of SHB’s 2025 AGM with over 1,000 shareholders attending in person
He went on to express strong confidence in SHB’s long-term growth potential, and conveyed his wishes for the leadership team to remain steadfast and in good health, so they can continue to steer the SHB ship further toward sustainable value: “I hope one day I can pass on my SHB shares to my child as a treasured legacy.”
Beyond financial performance, the shareholder was also moved by SHB’s meaningful initiatives, such as being the official partner of the Vietnamese national football team during the ASEAN Cup 2024. SHB organized charter flights for fans and players’ families to Thailand to cheer on the team – a touching and inspirational act that spread a powerful sense of national pride and passion for football. He expressed hope that SHB would continue creating such meaningful journeys, so their connection to the bank goes beyond profits – rooted also in pride and shared values.
In 2024, SHB exceeded all key performance indicators approved by the General Meeting of Shareholders. The Bank recorded a pre-tax profit of VND 11,569 billion, marking an impressive 25.2% growth year-over-year. Total assets reached VND 747,478 billion, an 18.6% increase; outstanding credit stood at VND 533,984 billion. The cost-to-income ratio (CIR) was kept at an industry-leading low of 24.4%, thanks to ongoing efforts in digital transformation and technological integration across operations, services, and products.
SHB maintained rigorous risk management policies throughout the year. Capital adequacy and risk control metrics remained well above the thresholds set by the State Bank of Vietnam. The bank reported a capital adequacy ratio (CAR) of over 12% under Basel II standards and met Basel III liquidity risk standards. Non-performing loans (NPLs) were tightly controlled at 2.4%, in line with shareholder-approved targets.
In a clear demonstration of financial strength and shareholder commitment, SHB successfully paid 2023 dividends at a combined rate of 16% – 5% in cash and 11% in stock – raising its charter capital to VND 40,658 billion. This solidified SHB’s position among the Top 5 largest private banks in Vietnam. The capital increase significantly enhances the bank’s financial capacity, international competitiveness, and ability to deliver sustainable value to its shareholders.
Throughout its development journey, SHB has consistently prioritized maximizing shareholder and investor returns. Over the years, its annual dividend payout ratio has ranged from 10% to 18%. SHB was also among the first three credit institutions to list shares on Vietnam’s stock exchange and is currently part of the VN30 index, representing the top 30 largest-cap stocks in the market.
2024 also marked a year of robust international expansion for SHB. The bank advanced the divestment process at its subsidiaries SHBFinance, SHB Laos, and SHB Cambodia, while expanding strategic partnerships with leading global institutions such as the Asian Development Bank (ADB), International Finance Corporation (IFC), KfW, World Bank (WB), and Busan Bank (South Korea), among others.
The Presidium addressed shareholders’ questions regarding business goals and strategies.
SHB continues to expand its global footprint through strategic partnerships with numerous international financial institutions. With a correspondent network of over 600 banks worldwide, the bank has solidified its position and bolstered its reputation on the international stage. Notably, SHB successfully secured three-year funding from international financial institutions to finance green projects aligned with the Bank’s Green Finance Framework.
Alongside robust business growth, SHB remains deeply committed to corporate social responsibility, especially in supporting vulnerable communities. In a recent collaboration with the Ministry of Public Security and T&T Group, SHB co-sponsored the construction of 700 houses for disadvantaged households in Bạc Liêu province, with a total contribution of VND 42 billion. Earlier in 2024, SHB and T&T Group joined efforts with local authorities and the Ministry of Public Security to build 150 homes and a school for families in Northern mountainous provinces affected by natural disasters.
Guided by the philosophy that “business growth must be inseparable from social responsibility,” and inspired by the vision of SHB Chairman Mr. Do Quang Hien – “contributing to society is not merely a duty, but a privilege for every business” – SHB has consistently served as a catalyst for meaningful, people-focused impact. In partnership with the Vietnam Fatherland Front and its provincial branches, SHB and affiliated businesses under Mr. Hien’s leadership have contributed trillions of Vietnamese dong to support disadvantaged communities, assist in disaster relief efforts, deliver COVID-19 aid, and fund the construction of permanent housing in remote and border regions across the country. Notable initiatives include the donation of 1,000 homes to low-income and meritorious individuals in Ha Giang (valued at VND 60 billion) and a VND 25 billion contribution to eradicate temporary housing in Dien Bien province. These efforts have helped to improve the lives of countless families across the country.
Over the years, SHB has consistently ranked among the Top 5 banks contributing the most to Vietnam’s national budget. In addition to its tax contributions, SHB has launched multi-trillion VND financial support packages, including interest rate subsidies and housing loans for low-income earners. The Bank also offers customers holistic, technology-driven financial services and personalized business planning support, empowering them to manage their finances effectively and grow sustainably. SHB also plays an active role in connecting Vietnamese businesses with reputable international organizations, providing vital market insights and guidance on government policies to help them navigate challenges and seize opportunities
Recently, SHB, in partnership with T&T Group, hosted the 2025 Cultural Megafest, a landmark event celebrating the organization’s identity and spirit. More than just a celebration, the event fostered unity, inspired pride among employees, and set the stage for SHB’s next phase of bold advancement. It also delivered a powerful message – one of vision, aspiration, and readiness to step into a new era of national revival and prosperity. The festival honored Vietnam’s cultural heritage while embracing creativity and innovation, symbolizing SHB’s commitment to building a sustainable future for the organization and the nation.
Targeting 25% profit growth, committed to maximizing shareholder value
Building on the success of 2024, SHB has set ambitious business targets for 2025, aiming for total assets to exceed VND 832 trillion and charter capital to reach VND 45.942 trillion – further reinforcing its position among the Top 5 largest private commercial banks in Vietnam. The bank projects pre-tax profit of VND 14.5 trillion, marking a 25% increase year-on-year. Total outstanding credit is expected to grow by 16%, while the NPL ratio will continue to be tightly controlled at below 2%.
As of March 31, SHB’s consolidated total assets amounted to VND 790.742 trillion, an increase of 6% compared to the end of 2024. Outstanding credit reached VND 575.777 trillion, a 7% increase, with a strategic focus on core production and business sectors, as well as high-potential industries aligned with the country’s sustainable development priorities. Credit quality remains firmly within safe thresholds, thanks to proactive, decisive, and effective risk management and debt resolution measures – laying a solid foundation for long-term, stable, and efficient growth.
Shareholders express strong confidence in SHB’s growth potential
By the end of Q1 2025, SHB recorded pre-tax profit of nearly VND 4.4 trillion, achieving 30% of the full-year target. This robust performance underscores the bank’s solid internal capacity and provides strong momentum for SHB to pursue its breakthrough growth goals for the year.
Notably, SHB plans to distribute dividends at a higher rate than in previous years, reflecting its commitment to shareholder returns. For 2024, the bank paid a total dividend of 18%, including 13% in stock and 5% in cash.
SHB continues to strengthen its risk governance framework, enhancing compliance oversight aligned with international standards to ensure modern, effective operations. Anti-corruption, waste prevention, and anti-misconduct efforts are considered core, long-term priorities – reflecting the bank’s unwavering commitment to a transparent, equitable, and high-integrity working environment. To support agile and data-driven decision-making, SHB is investing in advanced data infrastructure and smart analytics tools to enable real-time risk forecasting. Concurrently, the Bank is implementing a suite of modern risk management standards, including Basel III, the Internal Ratings-Based (IRB) capital approach, Asset-Liability Management (ALM), Funds Transfer Pricing (FTP), and IFRS 9.
SHB is also focused on enhancing governance and operational efficiency through organizational streamlining, decentralization, and empowerment – optimizing its structure for agility and performance.
Recently, Fitch Ratings published its inaugural international credit rating for SHB, assigning the bank a Long-Term Issuer Default Rating (IDR) of “BB–” for both local and foreign currency obligations, with a Stable Outlook – placing SHB among the top-tier banks in Vietnam.
Fitch Ratings is one of the world’s “Big Three” credit rating agencies. Achieving a “BB–” rating is a testament to SHB’s growing reputation and robust financial strength on the global stage, reflecting its stable profitability and resilient financial foundation.
Enhancing corporate culture as the foundation, fostering technology as the driving force for breakthrough growth
In alignment with the Vietnamese Government’s strategic focus on advancing science, technology, innovation, and digital transformation to propel national development in the new era, SHB continues to invest in cutting-edge technological solutions. These investments aim to optimize internal processes, deliver exceptional customer experiences, and develop modern, convenient, and secure digital banking services.
At the same time, SHB is actively expanding partnerships with leading global technology corporations and financial institutions. These collaborations enhance SHB’s competitive capabilities in the present and unlock new opportunities for long-term growth. By embracing scientific innovation and digital transformation, SHB is setting the stage for a bold and sustainable leap forward.
Successful AGM with high consensus on all resolutions
SHB has recently entered into a strategic partnership with SAP Fioneer and Amazon Web Services (AWS), marking a pivotal milestone in the robust and comprehensive rollout of its 2024–2028 Transformation Strategy. This collaboration sets the foundation for realizing SHB’s visionary “Bank of the Future” (BOF) initiative. The BOF initiative is designed to transform SHB’s competitive edge and customer service capabilities. Key outcomes anticipated in 2025 and 2026 include the launch of advanced digital services, full digitization of the customer journey, enhanced customer experience, increased automation, data-driven growth, and modernization of the Bank’s core systems.
“Bank of the Future” will serve as a fully integrated model, embedding cutting-edge technologies – AI, Big Data, and Machine Learning – into every process, solution, product, and service across the organization. Notably, SHB becomes the first bank in the ASEAN region to collaborate with SAP Fioneer in deploying a core banking system on AWS’s cloud platform – once again reinforcing its pioneering status and ambition to reach new heights on a regional and global scale.
In 2025, SHB’s transformation efforts will center on delivering greater value to customers and enhancing sales effectiveness. Core initiatives include deploying new tools to optimize sales and credit management in both retail and corporate banking, as well as upgrading digital channels to provide a more seamless, intuitive, and globally secure customer experience.
The 2026–2027 period marks a phase of accelerated growth for SHB, focusing on the deep integration of its financial–digital–customer ecosystem. By 2026, SHB aims to become a bank with total assets reaching VND 1 quadrillion, a milestone that will solidify its market position both domestically and across the region.
Looking ahead to 2028, SHB sets its sights on breakthrough efficiency and sustainable growth. The bank’s goals include becoming: The top-performing bank in terms of operational efficiency, The favorite digital bank, The leading retail bank, and a top-tier provider of capital and financial services to strategic private and state-owned enterprises – especially those involved in supply chains, value chains, ecosystems, and green development. In its vision by 2035, SHB aspires to rank among the region’s leading banks in modern retail, green banking, and digital transformation.
SHB’s transformation journey shall be driven by four strategic pillars: Reforming mechanisms, policies, regulations, and procedures; People-centricity; Customer and Market-centricity; Modernizing IT systems and digital transformation. The Bank remains firmly anchored in its six core cultural values: Heart – Faith – Trustworthiness – Knowledge – Wisdom – Greater Height.
The SHB AGM also approved several key resolutions, including the listing of SHB bonds issued to the public and the restructuring of the Board of Directors to ensure sufficient leadership capacity for strategy execution. The meeting unanimously elected Mr. Phan Dang Tuat as an Independent Member of the Board of Directors for the 2022–2027 term.
The 33rd Annual General Meeting of Shareholders of SHB concluded successfully. Shareholders in attendance overwhelmingly approved all agenda items with near-unanimous support.
On behalf of SHB, Chairman Do Quang Hien affirmed: Building on the Bank’s 32-year legacy and solid financial foundation, the Board of Directors, Executive Management, and the entire SHB team will continue to promote a strong corporate culture and uphold the spirit of unity, self-reliance, national pride, continuous learning, innovative thinking, and creative, results-driven action – resolutely committed to achieving the strategic goals and business plans endorsed by the General Meeting.
At the same time, SHB remains proactive in mobilizing social resources and igniting the spirit of national pride – uniting under the shared vision of “Unified Heart – Bright Mind – Global Reach.” SHB is dedicated to delivering prosperity for its customers, partners, investors, shareholders, and communities; contributing to a strong and prosperous nation; and marching alongside the country into a new era – an era of national resurgence.