Recently, Saigon – Hanoi Bank (SHB) was excellently honored in the Top 50 Effective Enterprises and named on the list of 2020 billion-dollar enterprises, affirming the Bank’s comprehensive, transparent and sustainable development capacity.
Top 50 Effective Enterprises is a valuable and reliable annual ranking table, with the consultation of leading economic and business experts from Harvard Business School, and reference from prestigious ranking organizations in the world such as Bloomberg Businessweek, Fortune, Forbes global, in order to seek and honor companies doing business effectively in Vietnam’s stock market.
The award is granted according to the results from the 2020 financial statements of listed companies on the stock market and in consideration of a number of actual, public financial indicators at the time of evaluation in 2021, namely: revenue, return on equity (ROE) and return on share. The measurement results aim to objectively assess the corporate governance capacity of the enterprises.
Being honored in the Top 50 Effective Enterprises reflected SHB’s comprehensive, transparent and sustainable development capacity. In the first 9 months of 2021, SHB’s consolidated profit before tax reached VND 5,055 billion, up 93.9% over the same period in 2020. With such result, after several consecutive quarters of improvement, the profit margin on total assets (ROA) reached 1.5%; SHB’s return on equity (ROE) reached 25.6%, equivalent to the leading performance index in the system of Vietnamese commercial banks today.
Especially during the recent evaluation period, SHB not only achieved excellent growth, but also obtained many important achievements including basically completing the Habubank merger scheme; firmly accompanying customers and businesses to overcome the challenges of the Covid-19 epidemic with several credit support packages of thousands of billions VND and directly supporting the Government and citizens,… Most recently, according to the disclosure from the State Bank of Vietnam, from July 15, 2021 to August 31, 2021, SHB is one of the four private joint stock commercial banks offered highest interest reduction to support customers affected by the epidemic.
The comprehensive development strategy and management capacity of the Bank’s Board of Management have led to SHB’s sustainable growth in both scale and quality of operations. SHB is also ranked in the list of billion-dollar enterprises in 2020 and in the Top 10 prestigious commercial joint stock banks for 6 consecutive years, further proving the position of one among the largest joint stock commercial banks in Vietnam.
Recently, SHB has signed an agreement to transfer 100% of its capital at SHB Finance to its partner Krungsri – a strategic member of MUFG – the largest financial group in Japan and one of the leading financial groups in the world. On October 11, SHB also transferred share listing to HOSE. SHB’s strong reputation and financial capacity and HOSE’s advantages will bring synergy and open up new prospects for SHB share, especially when SHB steps up its search for investors with the same vision and long-term strategy in the coming time, helping the Bank to achieve a breakthrough and sustainable growth. In the same year, SHB will complete the capital increase to VND 26,674 billion. Capital surplus from the sale of SHB Finance and strong financial capacity are effectively promoting SHB’s digitization goals.
With the orientation of improving internal operational efficiency and building a customer-centric business model, SHB constantly improves customer experience through the support of technology. The Bank is drastically developing a digital corporate culture, automating processes, investing in IT systems and researching and applying a variety of technologies such as Artificial Intelligence (AI), Big Data, cloud computing, etc.
Mr. Vo Duc Tien, SHB’s Executive Vice Chairman said: “Continuing our achievements on the development journey, SHB is transforming dynamically with digital technology projects. SHB’s continuous efforts are increasingly promoting business efficiency, bringing maximum values and benefits to customers, shareholders, investors and the community.”
Previously, SHB has won many noble awards and prizes, highly appreciated by prestigious domestic and foreign organizations, including: Best Trade Finance Bank in Vietnam (Alpha Southeast Asia Magazine); Best savings product (Global Banking and Finance Review); Best customer support initiative in 2020, Most innovative bancassurance product in 2020, Best strategic cooperation initiative in 2020 (The Asian Banking and Finance Magazine); Best Bank for Small and Medium Enterprises in Vietnam (Asiamoney Magazine); Bank accompanies SMEs, Green Bank (IDG International Data Group), Bank of the Year 2020 (The Banker Magazine), Top 50 Excellent Enterprises 2020 (Vietnam Report), among many others.