By the end of the first half of 2024, SHB achieved a pre-tax profit of over VND 6,860 billion, marking a 13% rise from the previous year. This result accounts for 61% of the annual goal and reinforces SHB’s position as having the lowest cost-to-income ratio (CIR) in the industry.

Saigon – Hanoi Bank (HoSE: SHB) has released its consolidated financial statements for the second quarter of 2024. As of June 30, the bank reported total assets of VND 659,767 billion and charter capital of VND 36,629 billion, securing its place among the TOP 5 largest private banks in Vietnam.

SHB’s customer deposits totaled VND 500,177 billion. For years, the Bank has consistently outpaced the industry average in deposit growth, earning a reputation as a trusted choice for individuals, businesses, and clients seeking to save, make payments, and access financial services and solutions.

The outstanding credit balance reached VND 475,267 billion, placing SHB among the top banks in market lending. As the economy’s capital needs grow, SHB has diligently adhered to the Prime Minister’s and State Bank of Vietnam’s directives. The Bank has proactively engaged with customers to resolve obstacles in accessing capital, ensuring timely support for production and business activities, and driving economic growth.

In the first half of 2024, SHB’s accumulated pre-tax profit reached VND 6,860 billion, a 13% increase compared to the same period in 2023, achieving 61% of the annual target. The Bank’s return on equity (ROE) stands at 25.91%. SHB maintains the lowest cost-to-income ratio in the sector at 22.25%, a result of its ongoing digital transformation and the automation of operational processes.

The Bank remains committed to enhancing operational safety and risk management in line with Basel II and Basel III standards. SHB’s capital adequacy ratio (CAR) stands at 12.32%, exceeding regulatory requirements, while its non-performing loan (NPL) ratio is maintained below 3%. Amid a rising trend in NPLs across the industry in the first half of the year, SHB is intensifying its efforts to monitor and address these issues. The Bank has established specialized teams at both the head office and branches/transaction offices to directly address and resolve NPLs, offering tailored solutions to recover loans and support customers in overcoming financial difficulties.

Ready to pay dividends in cash and shares, raising charter capital to VND 40,658 billion

SHB recently finalized the shareholder list on July 19 to distribute cash dividends for 2023 at a rate of 5%, with payment scheduled for August 6. Additionally, the Bank is in the process of preparing documents for regulatory approval to issue 2023 dividends in shares at a rate of 11% during the third quarter of 2024. This issuance is expected to raise the charter capital to VND 40,658 billion.

SHB is committed to safeguarding shareholder rights by consistently paying annual stock dividends ranging from 9.9% to 18% over the past five years (with 2023 dividends distributed in both cash and shares). The Bank is dedicated to enhancing its capital base, capital adequacy ratios, and risk management practices to ensure full compliance with State Bank regulations. SHB remains focused on sustainable, safe, and effective development, continually advancing its management capabilities in line with international standards and modern practices.

2024 is the pivotal year of SHB’s 2024-2028 transformation strategy. The Bank is directing its resources towards executing a robust and holistic Transformation Strategy centered on four pillars: Institutional Reform, People-centricity, Customer-centricity, and Modernized information technology and digital transformation. It remains committed to upholding the six core cultural values: “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.