Saigon – Hanoi Bank (SHB) has just announced its consolidated financial statements for the first quarter of 2022 with very positive business results.
With this profit, SHB entered the Top 5 most profitable private commercial banks in Quarter 1.
Accordingly, by the end of Quarter 1, 2022, SHB’s total assets reached VND 515,553 billion, an increase of 1.8% compared to the beginning of the year; capital mobilization from market 1 reached VND 388,116 billion, up 2.6%; credit balance reached VND 388,196 billion, up 5.3%. Pre-tax profit reached VND3,227 billion, up 94% over the same period in 2021.
SHB’s basic financial indicators all increased over the same period, bringing the total net interest income of 1Q2022 of SHB to VND 4,223 billion, an increase of 90% over the same period, of which profit from service activities increased by 24% over the same period last year.
SHB’s goal of minimum total profit of VND11,686 billion in 2022 is completely satisfactory. At the end of Q1, SHB’s overall business results as well as business targets are quite positive.
In 2021, SHB recorded outstanding growth in business, when the Bank’s profit reached VND 6,260 billion, up 91% over the same period, total assets reached VND 506.6 trillion, up 23% compared with the end of 2020; equity capital according to Basel II standards reached VND 53,114 billion, charter capital reached VND 26,674 billion, completing the planned capital increase plan. Capital mobilization from market 1 reached VND 379 trillion, up 12%; outstanding loans reached VND 369 trillion, up 16% compared to 2020. In particular, SHB tightly controlled operating expenses, bringing the ratio of operating expenses to total net income (CIR) down to 24 .22%, became one of the top joint stock commercial banks that best controlled cost; recovered loans and set provision for settlement of all VAMC and Vinashin bonds ahead of time.
SHB has also successfully organized the 30th Annual General Meeting of Shareholders for term 2022 – 2027, elected members of the Board of Directors and Supervisory Board for the new term; elected and assigned the titles to members of the Board of Directors and the Supervisory Board.
Mr. Do Quang Hien was approved by the Board of Directors for the new term to hold the position of Chairman of the Board of Directors for the term 2022 – 2027.
In 2022, SHB targets total assets to grow over 12%, charter capital to grow 37% compared to 2021; profit before tax is expected to be at least VND 11,686 billion, up 87%; Expected dividend in 2022 from 18%.
SHB will continue to cooperate with the world’s leading strategic consulting groups, such as BCG, IFC, IBM… to provide comprehensive solutions to improve business efficiency through business model innovation, developing modern Digital Banking products and services, suitable to the needs of customers and the market.
2022 is also the year that SHB will drastically implement 4 strategic pillars of development, including: Institutional and mechanism reform; Consolidating the organizational structure and personnel; Customer-centricity; Information technology platform and digital transformation.
In addition to striving to successfully complete business goals and targets set by the Annual General Meeting of Shareholders, SHB will focus on exploiting all resources for development, increasing maximum benefits for shareholders and customers, striving to make SHB an efficient bank in the market.