Saigon – Hanoi Bank (SHB) has just disclosed its 4Q2019 Financial Statements, which includes many important financial indicators with positive growth: profit of over VND 3,000 billion, NPL was well-controlled at 1.8%.

Accordingly, as of December 31, 2019, SHB’s total assets reached VND 366,000 billion, increased 13.5% compared to the end of 2018. Charter capital reached VND 14,551 billion. Funds mobilization reached VND 337,000 billion, increased 13% compared to the end of 2018. Along with growth in operation scale and funds mobilization, total outstanding loans to customers also reached VND 265,000 billion, credit growth of 22% compared to the end of 2018. Credit quality was strictly controlled with NPL ratio sharply reduced to 1.8%.

In 4Q2019, SHB bought back VND 5,773 billion of VAMC bonds and made a full risk provision of 100%. These are NPLs that SHB had sold to VAMC, most of which were NPLs incurred when the Bank merged with Habubank. SHB’s completion of risk provision of 100% for NPLs sold to VAMC ahead of schedule is even more significant as the Bank is therefore eligible to pay dividends according to the regulations of the State Bank. In the last days of 2019, SBV has approved SHB’s proposal to pay dividends from retained earnings of 2017 and 2018 at a rate of 20.9%.

In addition, SHB’s business results in 2019 complied and surpassed the standards set by SBV, the Bank’s capital adequacy ratio (CAR) as of December 31, 2019 reached 11.7%.

The Bank’s total profit before tax in 2019 reached VND 3,077 billion, an increase of 47% compared to 2018, completed the set target. ROE reached 17.56%.

SHB closed the year 2019 with outstanding results, which set a solid foundation for SHB to develop strongly in the following years. In particular, in 2020, SHB’s target is to continue to increase market share, expand business and customers. In addition, SHB also plans to buy back  VAMC bonds before maturity, ensure credit quality with NPL ratio below 2.0 %, continue to affirm its position as a Top 5 largest private commercial banks in Vietnam in terms of scale and market share. At the same time, SHB business operations are expected to fully meet financial criteria according to Basel II standards by 1Q2020.

In 2019, SHB continuously received many awards and honors from prestigious domestic and international organizations for its brand as well as products and services, namely: Top 50 best enterprises and Top 30 largest public companies in Vietnam; Top 50 most valuable brands in Vietnam; maintained the position of Top 10 most valuable brands in the banking industry; Top 10 most prestigious Vietnamese commercial banks for 4 consecutive years; Best project financing bank; Best trade financing bank; Debit card initiative of the year and Online Banking initiative of the year 2019; Best company to work for in Asia,… among many others.