On August 15, 2022, the State Bank of Vietnam approved Ms. Ngo Thu Ha to hold the position of Chief Executive Officer (CEO) of Saigon – Hanoi Bank (SHB). Previously, Ms. Ngo Thu Ha was assigned by the Board of Directors of SHB to take the role of Acting CEO. Also, SHB recently get approval from the State Bank to change its charter capital to VND 26,674 billion. In the mean time, in implementing the resolution of the General Meeting of Shareholders in 2022, SHB will raise its charter capital to VND 36,459 billion, expected to be in the Top 3 largest private joint stock banks in terms of charter capital.

The State Bank has issued Official Letter No. 5631/NHNN-TTGSNH dated August 15, 2022 approving Ms. Ngo Thu Ha to hold the position of CEO of SHB. Accordingly, the Board of Directors of SHB will carry out procedures to appoint the CEO in accordance with the provisions of Law and SHB’s regulations.

Previously, on July 20, 2022, Ms. Ngo Thu Ha was assigned by the Board of Directors of SHB to take the role of Acting CEO. Ms. Ngo Thu Ha was born in 1973. She had a PhD in Economics, 28 years of experience in finance and banking and more than 11 years as Deputy CEO of SHB. During her time at SHB, Ms. Ngo Thu Ha has held many important positions in the Bank, contributing to the outstanding development of SHB, ranking in the Top 5 largest commercial joint stock banks in Vietnam.

The Board of Directors of SHB expects that with high expertise and extensive experience in the field of finance and banking, Dr. Ngo Thu Ha will accompany the Board of Directors, Board of Management and all employees with great determination to bring SHB to realize the goal in the next 5 years of becoming the leading bank in terms of efficiency and technology among commercial banks in Vietnam.

The SBV’s approval of the Chief Executive Officer appointment is of great significance to SHB in order to strengthen its governance capacity, contributing to the realization of the strong growth target in line with the Bank’s medium and long-term strategic orientations towards the goal of becoming the leading bank in terms of efficiency, applying leading modern technologies and being the most popular digital bank.

Also recently, the State Bank of Vietnam has approved in writing to change the charter capital of SHB to VND 26,674 billion. The successful continuous raising of capital in recent years sets an important foundation for SHB to increasingly affirm and improve its reputation in the domestic and foreign investment community, as well as international credit rating agencies.

Implementing the resolution of the General Meeting of Shareholders in 2022, SHB will increase its charter capital to VND 36,459 billion, expected to be in the Top 3 largest private joint stock banks in terms of charter capital. Accordingly, SHB has completed the submission to the SBV on the plan to increase charter capital as approved by the 2022 Annual General Meeting of Shareholders, including 3 parts: dividend payment in 2021 to existing shareholders at the rate of 15 % in shares; private placement to existing shareholders by the method of exercising rights at the ratio of 100:20 with the offering price of VND12,500/share and Employee Stock Ownership Plan (ESOP) to SHB employees with the total number of shares issued at 45.12 million.

The successful continuous raising of capital in recent years is an important foundation for SHB to increasingly affirm and improve its reputation with the domestic and foreign investment community.

Under the direction and determination of the Board of Directors, the Board of Management and the continuous efforts of all SHB employees, in the first 6 months of 2022, SHB has achieved impressive business results. As of June 30, 2022, SHB’s total assets reached more than VND522 trillion, completing 91.7% of the 2022 plan. Total mobilized capital amounted more than VND471 trillion; outstanding credit balance reached more than VND390 trillion, both targets completed 93% of the plan in 2022. Profit before tax amounted to nearly VND5.9 trillion (up 84%), ranked in the Top 5 private commercial joint stock banks in terms of profit; net income from business activities amounted to nearly VND9.5 trillion (up 113%); Capital adequacy ratio according to Basel II standards was nearly 12%, Moody’s credit rating was at B1.

With positive business results achieved in the first 6 months of the year, SHB’s target of a minimum total profit of VND11,686 billion in 2022 is completely satisfactory. Good profitability and constantly improving charter capital have laid stable premises for SHB to improve Basel compliance, toward meeting Basel III requirements, built a solid risk management foundation, ensured a healthy, safe, and effective development process.