For the first time, SHB has secured the 137th position on the inaugural Fortune Southeast Asia 500 (Fortune SEA 500) list. Photo courtesy of the bak

HÀ NỘI — For the first time, SHB has secured the 137th position on the inaugural Fortune Southeast Asia 500 (Fortune SEA 500) list, which ranks the highest revenue-generating companies across the region.

With a solid foundation, deep cultural roots, and a commitment to sustainable, secure, and efficient growth, Saigon – Hanoi Commercial Joint Stock Bank (SHB) continues to strengthen its management practices, aligning with international standards and modern business models.

On June 18, Fortune Magazine released its list of the 500 largest corporations and businesses in Southeast Asia by revenue. SHB placed 137th, ranking 17th among Vietnamese financial institutions and businesses included in the list. This achievement underscores SHB’s prominent position in the regional financial sector. 

As of March 31, 2024, SHB reported total assets of over VNĐ621 trillion, with charter capital of VNĐ36.1 trillion. Photo courtesy of the bank

In Việt Nam, SHB is recognised as one of the top four largest private commercial banks, with a strong financial foundation and an effective business strategy. SHB’s shares are also part of the VN30 Index, which includes the most liquid and high-market capitalization stocks on the Vietnamese stock market.

As of March 31, 2024, SHB reported total assets of over VNĐ621 trillion, with charter capital of VNĐ36.1 trillion. Customer deposits reached more than VNĐ481.8 trillion, and the outstanding credit balance surpassed VNĐ452.8 trillion.

In the first quarter of 2024, SHB posted a pre-tax profit of VNĐ4 trillion, an 11 per cent increase from the previous year, achieving 35 per cent of its annual target. This marked the highest first-quarter profit in the bank’s history. Thanks to its comprehensive transformation strategy, SHB has streamlined its operations, boosted productivity, and achieved the lowest cost-to-income ratio (CIR) in the banking industry.

As a leading financial institution, SHB adheres to stringent risk management practices, consistently surpassing State Bank regulations for capital adequacy and following Basel II and Basel III standards for liquidity risk management. In April 2024, SHB maintained its B1 credit rating from Moody’s, reflecting the bank’s enhanced operational efficiency and resilience in a volatile market environment.

SHB’s ongoing commitment to innovation, responsibility, and efficiency is further validated by its inclusion in the Fortune SEA 500 list. This achievement confirms SHB’s growing stature in both regional and international markets. The bank’s ongoing Transformation Strategy, anchored in four key pillars - Institutional Reform, People-Centricity, Customer-Centricity, and Digital Transformation - continues to drive significant progress.

In the first half of 2024, SHB received several prestigious awards, including recognition as the Biggest ESG Impact Bank in Việt Nam, Best Commercial Bank for SMEs in Việt Nam, and Most DEI Progressive Bank in Việt Nam. The bank also earned the title of bank with the Best Sustainable Financing Activities in 2024. Additionally, SHB became the first bank in Việt Nam to win two Digital CX Awards in 2024 for its outstanding digital customer experience in the Cash Management Platform category and for its ACAS Automatic Credit Approval System.

An SHB representative said: "Ranking 137th on the Fortune SEA 500 list and receiving these awards reflects SHB’s growing prominence in both regional and international markets. These accomplishments are a testament to our Board of Directors' clear strategic vision and long-term focus, which guide our ongoing transformation."

From 2024 to 2028, SHB is committed to executing its robust Transformation Strategy, emphasizing Institutional Reform, People-Centricity, Customer-Centricity, and Digital Transformation. The bank’s vision is to become the most efficient bank, the most popular digital bank, the top retail bank, and the leading provider of capital and financial services to both private and State-owned corporate customers, particularly those with green supply chains and ecosystems.

SHB is also dedicated to supporting environmental conservation, contributing to green growth, economic development, and the circular economy. This commitment aligns with Việt Nam’s Renewable Energy Development Strategy through 2050. Additionally, SHB remains active in charitable initiatives, assisting the underprivileged and those facing adversity. VNS