2017 continued to witness a remarkable performance of SHB with pre-tax profit of VND1,938 billion, increasing by 66% YoY and 11% compared to the target. This significant result was attributed to SHB’s achievement in most of its business targets via strengthening its banking services, developing tailor-made product packages, based on which to offer considerable benefit and great value to customers.
Saigon – Hanoi Commercial Joint Stock Bank (SHB) has announced its consolidated financial report for the 4th quarter of 2017, which recorded impressive growth of significant financial indicators compared to 2016 and exceeded the plan set out by the General Meeting of Shareholders.
Specifically, as of 31/12/2017, SHB’s total assets reached VND277,994 billion, increasing by 19% year to date, continuing to affirm its position in the Top 5 largest commercial joint stock banks in Vietnam. The Bank’s chartered capital is currently VND11,196 billion and will increase to VND12,036 billion from issuing shares to pay dividends in 2016 to shareholders. The owner’s equity witnessed an increase of 9%, reaching VND17,829 billion. These results have given momentum to improve safety ratios of the Bank and gradually reach safety ratios in line with international requirements.
As of 31/12/2017, the Bank’s customer deposit reached VND 212,519 billion, of which individual deposits accounted for 60%, demonstrating a stable and sustainable deposit growth of SHB.
Together with the growth of capital mobilization, total outstanding customer loans reached VND 196,131 billion as of 31/12/2017, increasing by 21% year to date and credit activities continued to focus on priority sectors which are the less risky industries following the direction of the Government and SBV. As a result, SHB’s business activities have always been highly effective, credit quality has been strictly controlled and the bad debt ratio has remained at a safe level of only 1.9%. In addition, SHB’s operating safety ratios always comply with and even exceed the SBV’ requirements with capital adequacy ratio (CAR) of 12% – higher than the SBV’s required ratio of at least 9%.
In terms of business results in 2017, pre-tax profit of the Bank reached VND1,938 billion, increasing by 66% YoY and 11% compared to the target. This significant result was attributed to SHB’s achievement in most of its business targets via strengthening its banking services, developing tailor-made product packages, based on which to offer considerable benefit and great value to customers.
The Bank’s success in 2017 was also evidenced by many awards and titles from prestigious domestic and international organizations for its brand and products and services such as: Best Bank in Vietnam 2017, Vietnam Bank of the Year, Best Wholesale Bank; Home Loan of the Year, Best SME Bank; Top 10 most prestigious commercial banks in Vietnam; Top 50 most prosperous enterprises in Vietnam, etc.
The results achieved in 2017 have affirmed the Bank’s prestige, strong financial capacity and its safe, effective, sustainable and transparent operation, thus creating confidence and trust of the shareholders, partners, customers and a firm ground to help SHB overcome challenges and reach higher position in the future.