Transactions at SHB in Hà Nội. SHB's total assets stood at VNĐ962.67 trillion, up 8 per cent from the end of 2025, moving closer to its target of VNĐ1 quadrillion in total assets.— Photo courtesy of the bank

HÀ NỘI — Saigon-Hanoi Commercial Joint Stock Bank (SHB) reported pre-tax profit of VNĐ9.09 trillion (US$347 million) in the first six months of 2026, completing 51 per cent of its full-year target approved by shareholders.

The bank said first-half net operating income reached VNĐ17.19 trillion, up from the same period last year. Net fee and commission income surged 277 per cent year-on-year to VNĐ3.83 trillion, extending the strong growth recorded in the first quarter.

The stronger contribution from services helped diversify SHB's revenue base, reducing its reliance on lending income and improving the resilience of its business model amid changing market conditions.

Operational efficiency also improved during the period. The bank's cost-to-income ratio (CIR) fell to 16 per cent, lower than a year earlier and among the lowest in the banking sector. SHB attributed the improvement to streamlined operations, digitalisation, higher productivity and more efficient customer service channels.

As of June 30, SHB's total assets stood at VNĐ962.67 trillion, up 8 per cent from the end of 2025, moving closer to its target of VNĐ1 quadrillion in total assets.

Customer deposits in Market I reached VNĐ687.84 trillion, an increase of 7 per cent from year-end, providing funding for business expansion and credit growth.

The bank maintained liquidity ratios above regulatory requirements. Its liquidity reserve ratio was 17.05 per cent, compared with the State Bank of Vietnam's minimum requirement of 10 per cent, while the loan-to-deposit ratio (LDR) stood at 80.6 per cent, below the regulatory ceiling of 85 per cent.

Outstanding credit reached VNĐ664.28 trillion, up 7.22 per cent from the end of 2025. SHB said lending growth remained selective, focusing on production, business activities and customer segments aligned with its strategic priorities.

The bank also continued to maintain asset quality, with its non-performing loan (NPL) ratio held at 1.76 per cent as of the end of June.

Strengthening capital base

SHB's capital adequacy ratio (CAR) remained at around 12 per cent on a consolidated basis, comfortably above the regulatory minimum of 8 per cent.

During the period, the bank issued more than 750 million new shares, raising its charter capital to VNĐ53.44 trillion. SHB said the capital increase would strengthen its financial capacity, support future growth and enhance its ability to meet increasingly stringent capital requirements. Upon completion of the relevant procedures, the bank expects to become the fourth-largest private commercial bank in Việt Nam by charter capital.

The bank is also advancing the divestment of its remaining 50 per cent stake in consumer finance company SHBFinance to Krungsri, a member of Japan's MUFG Group, following regulatory approval for the company's legal restructuring. The transaction is expected to be completed in the middle of the third quarter of 2026.

According to SHB, the deal will strengthen its financial resources, deepen cooperation with its strategic partner in retail banking and allow the bank to focus more on its core banking operations and long-term growth strategy.

The bank has also continued to diversify its funding sources through international partnerships. In 2025, SHB successfully secured two medium-term ESG-linked syndicated loans worth a combined US$600 million from 26 international financial institutions. The bank said the facilities would provide medium-term foreign currency funding while supporting the development of sustainable finance.

Digital transformation and long-term strategy

Building on its first-half results, SHB said it will continue implementing its long-term strategy centred on governance, technology, asset quality, operational efficiency and capital strength.

The bank's transformation programme is built on four strategic pillars: customer and market focus; reform of mechanisms, policies and processes; people development; and information technology modernisation and digital transformation. It is also pursuing a "5 FIRST" technology strategy comprising Data & AI First, People First, Cloud First, Security First and Mobile First to accelerate digital banking development.

SHB said it will continue expanding its customer ecosystem by working with major corporations, State-owned and private enterprises, as well as organisations in healthcare, education and other sectors, while developing products for small- and medium-sized enterprises (SMEs) and retail customers.

The bank's transformation efforts have also received international recognition. At the Asian Banking & Finance Awards 2026, SHB won four awards covering SME lending, SME payment solutions, ESG initiatives and digital banking.

SHB recently introduced a new corporate identity inspired by the shape of Việt Nam and traditional Vietnamese cultural values, reflecting its commitment to innovation, modernisation and international integration.

Looking ahead, the bank aims to become Việt Nam's leading bank in operational efficiency, digital banking and retail banking by 2030, while strengthening its position in serving strategic corporate customers, SMEs and retail clients. By 2035, SHB targets becoming a leading modern, digital and green bank in the region. — VNS