Through persistent efforts and continuous innovation in financial and non-financial solutions for businesses, SHB has been recognized as “Vietnam Domestic SME Partnership Initiative of the Year” and the “Vietnam Domestic Social Impact Finance Initiative of the Year.”
In July, the Asian Banking and Finance (ABF) magazine held the ABF Wholesale Banking Awards 2024 in Singapore. Saigon – Hanoi Commercial Joint Stock Bank (SHB) was honored with two awards: “Vietnam Domestic SME Partnership Initiative of the Year” and “Vietnam Domestic Social Impact Finance Initiative of the Year”
The ABF Wholesale Banking Awards 2024, judged by panels from leading auditing and consulting firms like PwC, Deloitte, EY, and Bain & Company, recognized SHB’s excellence. As one of the country’s top five private joint stock commercial banks, SHB is dedicated to its philosophy of “serving from the heart,” consistently providing modern and convenient financial solutions. The two awards highlight SHB’s initiatives and positive impacts on SMEs and women-led SMEs, spreading positive values to society and the community.
Empowering SMEs with Innovative Financial Solutions
As part of its digital transformation strategy, SHB partnered with MISA Joint Stock Company in 2023 to integrate digital banking services into MISA’s accounting software, including MISA AMIS and MISA SME.
SHB’s Internet Banking system is now connected to MISA SME.NET and MISA AMIS Accounting Online. Each successful payment or money transfer is automatically and instantly posted in the business accounting software, eliminating the need for manual entry by accountants.
Thanks to the seamless integration between SHB and MISA accounting software, accountants can track, monitor, approve, and perform financial transactions anytime, anywhere, and on multiple platforms such as PC, mobile, and tablet. This saves up to 80% of staff time and operating costs. Businesses using MISA’s accounting software can link to SHB Internet Banking and begin within 2 minutes.
Championing Women-Led SMEs
In addition to offering digitalized solutions and tailored products, SHB is committed to providing affordable financing, particularly through initiatives like the “Covid-19 Relief Grant for Women-Led SMEs” from the Asian Development Bank (ADB). This support has helped WSMEs recover and stabilize their operations following the pandemic. Struggling WSMEs can access existing loan restructuring with principal payment deferrals for at least 6 months, covering up to $10,000, or new loans with a commitment fee up to $10,000.
SHB provides various incentives to WSMEs to streamline financial transactions, including personalized account numbers, free salary payment services, a free Internet banking package, waived domestic transfer fees, complimentary Standard Payment Account Combo package and waived account fee for 6 months.
The bank has also signed a $120 million senior loan agreement with IFC to boost its SME loan portfolio, including support for WSMEs and supply chain businesses. This significant funding will enable the bank to develop better policies to more effectively serve SMEs, particularly WSMEs.
SHB was recognized by Alpha Southeast Magazine as the “Best SME Bank for Sustainable Finance” for its sustainable financial solutions and diverse digital products. Previously, FinanceAsia Magazine also named SHB the “Best Commercial Bank – SME in Vietnam.”.