Picture of T&T Group's multi-industry ecosystem

Saigon - Hanoi Commercial Joint Stock Bank (SHB) and T&T Group have long been known as two enterprises in the ecosystem of businessman Do Quang Hien (Mr. Hien).

The relationship between SHB and T&T is not only reflected in holding shares, investment capital, lending and providing financial services, but also in combining strengths to promote the development of this ecosystem.

T&T - major shareholder of SHB

Going back in time, in 2005, Mr. Do Quang Hien's T&T Company Limited became a major shareholder of Nhon Ai Rural Bank and led this bank to follow the general trend at that time: Industrial development goes hand in hand with financial development. T&T entered the banking sector after having succeeded in the motorbike industry.

In 2006, Nhon Ai Rural Commercial Joint Stock Bank officially converted its operating model to an urban commercial joint stock bank and changed its name to Saigon - Hanoi Commercial Joint Stock Bank (SHB), with a charter capital of 500 billion VND.

At the end of 2007, T&T Company Limited also transformed its operating model into T&T Group Joint Stock Company (T&T Group), gradually defining its business areas: Real estate, finance, and industry.

To date, T&T Group is still one of the largest shareholders of SHB Bank, holding a significant ownership ratio. By the end of 2024, T&T owned nearly 287.4 million SHB shares, equivalent to nearly 7.85% of the bank's charter capital, down from nearly 362 million shares (9.999% of shares) at the end of 2023.

Mr. Do Quang Hien, Chairman of SHB Bank. Photo: HH

In addition, Chairman of the Board of Directors Do Quang Hien owns 99.8 million SHB shares, equivalent to more than 2.72%. His son Do Quang Vinh (Vice Chairman of the Board of Directors of SHB Bank and Deputy General Director) and Do Vinh Quang hold 101.4 million shares (nearly 2.77%) and 107.3 million shares (nearly 2.93%) respectively.

Mr. Do Quang Vinh also holds the position of Chairman of the Board of Directors of Saigon - Hanoi Securities Corporation (SHS), a company in the T&T ecosystem. Mr. Do Vinh Quang is Vice Chairman at T&T and Chairman of Hanoi Club.

SHB is a financial driving force for the T&T ecosystem and private enterprises.

SHB Bank - where Mr. Do Quang Hien and his family hold a large number of shares - is considered a financial driving force for many enterprises and private economic groups, including activities of the T&T ecosystem.

By the end of 2024, SHB will have a capital scale of more than 38,000 billion VND, in the top 10 Vietnamese banks and total assets of more than 747 trillion VND. The development in capital and asset scale of SHB is a favorable condition to be able to provide financial support for large projects, serving the development needs of businesses.

T&T Group has a charter capital of 22,000 billion VND, total assets of 45,000 billion VND, with about 80,000 officers and employees.

As one of the 10 largest multi-industry private economic groups in Vietnam and top 50 influential groups in Asia and the region, with many large projects, T&T Group needs capital for development.

An important aspect of the relationship between SHB and T&T that many investors are interested in is the loans that this bank provides to businesses in the group and the price of SHB shares on the stock exchange.

However, information about loans to T&T Group enterprises is not clearly shown in SHB's financial statements. In fact, T&T Group and enterprises in the ecosystem are not listed on the stock exchange, most of them are not public companies, so it is not easy to find information about loans.

However, SHB's presence is easily seen in many projects of the T&T ecosystem. In addition to directly financing and cooperating in lending to buy project apartments, such as the T&T Victoria Project in Nghe An,... SHB also provides financial products to member companies and affiliates in the group.

Saigon - Hanoi Securities Corporation (SHS) - a company in the T&T ecosystem - is an organization related to Board of Directors member Le Dang Khoa since March 2013 and Chairman of the Board of Directors Do Quang Vinh has held the role of Chairman of the Board of Directors of SHS since April 2023.

In 2024, SHB signed contracts with Saigon - Hanoi Securities JSC (Resolution 13/2024); cooperated to deploy securities lending products with SHS Securities (Resolution 26/2024), cooperation contracts with SHS with a total value of less than 20% of SHB's charter capital (Resolution 29) according to the latest audit report...

Specifically, in 2024, SHS had many loans under the limit at SHB, including a loan of 445 billion VND from SHB Dong Do Branch and paid more than 45 billion VND. Then in May, it also borrowed nearly 824 billion VND from this branch and paid it back about 1 month later.

Previously, in 2022, SHS had a loan and debt repayment transaction with SHB with a total value of nearly 12.5 trillion VND. Of which, SHS incurred a loan of more than 5,381 billion VND during the period and incurred a debt repayment of more than 7,118 billion VND.

"In 2024, the company has balanced its capital sources, ensured good payment capacity, met the capital needs for the company's business operations and provided financial services to customers. All bank credit loans are unsecured, credit relations have been expanded with Vietcombank, Techcombank, Vietbank, ACB", SHS stated in its 2024 business performance report and 2025 operating plan.

In addition, SHB also has a deposit contract at Saigon - Hanoi Commercial Joint Stock Bank Finance Company Limited (SHBFC) (a company whose chairman/permanent vice chairman of the Board of Directors is Mr. Do Quang Vinh). The deposit contract at SHBFC does not provide the quantity and transaction value due to information confidentiality.

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In recent years, T&T has begun to enter the energy sector with projects such as Phuoc Ninh solar power, Thien Tan 1.2, Thien Tan 1.3 and Thien Tan 1.4. Support for these projects is partly contributed by SHB Bank and SHS Securities with the goal of sustainable development, green development according to the Government's Net Zero orientation.

However, many renewable energy projects face many difficulties after completion due to changes in renewable energy policies.

It can be seen that the relationship between SHB and T&T is a typical model of the combination between banks and private economic groups in Vietnam.

Mr. Hien's son becomes Vice Chairman of SHB Bank Saigon - Hanoi Bank (SHB) elected Mr. Do Quang Vinh, son of Mr. Do Quang Hien (Mr. Hien) as Vice Chairman of the Board of Directors.

Source: https://vietnamnet.vn/ngan-hang-shb-va-tap-doan-tt-he-sinh-thai-ty-usd-nha-ong-do-quang-hien-2381901.html