The Board of Directors of Saigon – Hanoi Commercial Joint Stock Bank (HoSE: SHB) has issued a decision on setting July 19, 2024 as the final date for closing the list of shareholders to receive cash dividends at a rate of 5%. Payment implementation time is from August 6.

The SHB Board of Directors is executing the 2023 dividend payment plan based on the resolutions from the 2024 Annual General Meeting of Shareholders. Specifically, the AGM approved a dividend rate of 16% for 2023, comprising 5% in cash and 11% in shares, aimed at boosting the bank’s charter capital to VND 40,658 billion. Additionally, the bank is currently finalizing documentation for submission to regulatory bodies and conducting necessary procedures to facilitate the issuance of the 11% dividend payment in shares expected in the third quarter of 2024.

Recently, the State Bank issued a decision to modify the charter capital details specified in SHB’s Establishment and Operation License. Accordingly, SHB’s charter capital now exceeds VND 36,629 billion. This decision followed SHB’s completion of the issuance of over 43.5 million shares under the Employee Stock Option Plan (ESOP).

In 2024, SHB aims to achieve total assets surpassing VND 701,000 billion, along with a 14% growth in total outstanding credit balance (adjusted as per State Bank approval). Customer deposits are projected to align with actual credit growth. The bank targets a pre-tax profit increase of 22%, reaching VND 11,286 billion, and anticipates a dividend payout rate of 18% for the year.

From 2024 to 2028, SHB is directing its efforts towards executing a robust and extensive Transformation Strategy centered around four key pillars: Institutional reform; People-centricity; Customer-centricity; and Modernized information technology and digital transformation. The strategy is underscored by steadfast adherence to six core cultural values of “Heart – Faith – Trustworthiness – Knowledge – Wisdom – Greater Heights”

SHB sets a strategic goal of becoming a leading bank in terms of efficiency, the most popular digital bank, the premier retail bank, and the primary provider of financial services to strategic corporate customers with green supply chain and ecosystem.

Built on a robust foundation and deep cultural roots, aligned with a commitment to sustainable, secure, and efficient growth, SHB continually enhances its management capabilities in line with international standards and modern frameworks. The bank rigorously enforces risk management policies, ensuring robust capital adequacy ratios and adherence to State Bank regulations, while progressing towards implementing Basel II and Basel III standards. SHB remains dedicated to its journey of Innovation, Responsibility, and Efficiency, solidifying its position as a premier financial institution poised for regional and international prominence.