With a robust capital base exceeding VNĐ36.6 trillion, SHB solidifies its position as one of the top four largest private commercial banks in Việt Nam. Photo courtesy of the bank

HÀ NỘI — Saigon – Hanoi Commercial Joint Stock Bank (SHB) has successfully amended the charter capital details in its Establishment and Operation License, as approved by the State Bank of Việt Nam (SBV). SHB’s new charter capital is now officially recorded at VNĐ36.6 trillion (US$1.4 billion).

The SBV’s decision follows SHB’s successful issuance of over 43.5 million shares through its employee stock option programme (ESOP). With a robust capital base exceeding VNĐ36.6 trillion, SHB solidifies its position as one of the top four largest private commercial banks in Việt Nam. This strengthened financial foundation is pivotal as the bank plans to further increase its charter capital in 2024, as approved by its general meeting of shareholders.

At the 2024 general meeting, shareholders approved a 16 per cent dividend yield for 2023, comprising 5 per cent in cash and 11 per cent in shares. This will raise SHB’s charter capital to VNĐ40 trillion. The bank also plans to distribute an 18 per cent dividend in 2024, with ambitious targets set to surpass VNĐ701 trillion in total assets and achieve a 22 per cent increase in pre-tax profit, reaching VNĐ11.2 trillion.

With a solid financial foundation and growing international recognition, SHB earned the 137th spot on Fortune Magazine’s list of the 500 largest companies in Southeast Asia (Fortune Southeast Asia 500). Additionally, the bank ranks 17th among Vietnamese companies, further cementing its strong presence in the regional financial sector.

Looking ahead to 2024-28, SHB is executing a comprehensive Transformation Strategy focused on four key pillars: Institutional Reform, People-Centricity, Customer-Centricity, and the modernisation of its IT platform and digital transformation. This approach is supported by the bank’s unwavering commitment to its six core cultural values: “Heart, Faith, Trustworthiness, Knowledge, Wisdom, and Greater Heights.”

SHB has set clear strategic goals: to become the most efficient bank, the leading digital bank, the top retail bank, and the primary provider of financial products and services to strategic corporate customers, both private and state-owned, with a focus on green supply chains and ecosystems. — VNS