After nine months, SHB’s accumulated pre-tax profit totaled VND 9,048 billion, achieving 80% of its 2024 target. Alongside its business development, the Bank actively engages in social security initiatives, supports the underprivileged, helps eliminate temporary housing in line with government policy, fulfills its community responsibilities, and contributes to the country’s socio-economic progress.
Saigon – Hanoi Bank (SHB, HoSE: SHB) has just announced its consolidated financial statement for the third quarter of 2024 with accumulated pre-tax profit reaching VND 9,048 billion, achieving 80% of the yearly plan.
As of September 30, 2024, total assets amounted to VND 688,387 billion, increased 9.2% compared to the end of 2023. Outstanding credit balance reached VND 495,420 billion. SHB’s performance indicators ranked among the top banks in the industry with ROE reaching 22.8%.
Since the beginning of the year, SHB has launched several credit programs offering preferential interest rates for individual customers, totaling VND 43,000 billion with rates starting at 5.79% per year. For corporate customers, the Bank has implemented programs totaling VND 16,000 billion, with interest rates beginning at 4.8% per year.
Additionally, the Bank is proactively offering interest rate support credit packages for individuals and businesses to help them recover and stabilize following natural disasters. Typically, SHB has introduced a loan package of VND 2,000 billion with an interest rate of just 4.5% per year for those impacted by Typhoon Yagi, along with an average 50% reduction on interests payable for the last four months of 2024.
Credit programs are tailored to meet the specific needs of various industries, professions, and customer groups, facilitating easier access to credit for businesses and individuals. This approach helps stabilize lives, fosters recovery and business growth.
Meanwhile, SHB is committed to sustainable, safe, and effective development, continuously enhancing its management capabilities to align with international standards and modern models. The capital adequacy ratio (CAR) stands at over 11.8%, exceeding State Bank regulations, which significantly contributes to the safety and sustainable stability of the banking sector. Furthermore, the bank remains focused on maintaining credit quality, facilitating loan settlements, collecting overdue loans, and supporting customers in overcoming challenges as they gradually recover.
As part of its robust and comprehensive transformation strategy for 2024-2028, SHB is committed to fostering innovation, leveraging technology, and implementing new internal initiatives to provide customers with convenient and modern products, services, and solutions. This focus on digitalization and the integration of technology into operational processes has contributed to optimizing the CIR index to 24.68%, the lowest in the industry, thereby enhancing operational efficiency and reducing costs.
By utilizing cutting-edge technologies such as AI, big data, and machine learning, SHB is digitizing its internal processes as well as its products and customer services. The share of transactions conducted through digital channels and online platforms is consistently rising, positioning the bank among the leaders in the industry. Currently, 90% of essential banking operations can be completed entirely through digital channels, while 92% of transactions for both corporate and individual customers are carried out via digital platforms such as mobile banking and internet banking.
Accompanying and promoting CSR initiatives
Along with business activities, SHB always proactively accompanies local authorities and people to effectively carry out social security initiatives.
In response to the Prime Minister’s call, SHB donated VND 100 billion to Soc Trang province as part of the nationwide initiative “Home for My People,” aimed at supporting the elimination of temporary and dilapidated housing for low-income and near-poor households.
In addition to financial policies tailored for individuals and businesses affected by Typhoon Yagi, SHB in partnership with T&T Group, SHS Securities Company, and VinaWind Company has allocated VND 23.5 billion to assist those impacted by storms and floods. The bank has also undertaken numerous practical initiatives to support local communities in essential areas such as health, culture, and education. Overall, SHB’s contributions to social security initiatives and interest rate reductions for customers affected by storms and floods are estimated to total VND 150 billion.
SHB also actively supports the construction of schools and invests in infrastructure to provide optimal learning conditions for children in mountainous areas. In mid-October, the Bank collaborated with the Vietnam Buddhist Sangha and the People’s Committees of Tua Chua and Dien Bien Dong districts in Dien Bien province to inaugurate two classrooms for ethnic minority boarding primary schools, funded by SHB with a total investment of VND 12.5 billion.
Originating from the Heart, SHB always wishes to accompany, create and spread good values to the Vietnamese people, and step into a new era with the country./.