Profit growth of 25%, SHB plans to distribute 7,317 billion VND in dividends

The above information was announced by SHB Chairman of the Board of Directors Do Quang Hien at the 2025 Annual General Meeting of Shareholders held recently in Hanoi. “The General Meeting of Shareholders has approved the dividend payment and the bank will implement it as soon as it receives approval from the competent authority. SHB is a bank that talks less and does more,” Mr. Do Quang Hien affirmed.

According to the 2024 profit distribution plan, SHB plans to distribute VND 7,317 billion to pay dividends, equivalent to 18% of charter capital. Of which, cash dividends account for 5%, the remaining 13% will be distributed in shares.

The stock dividend payment at a rate of 13% will contribute to increasing SHB's charter capital from the current VND40,657 billion to VND45,942 billion, an increase of about VND5,285 billion.

According to SHB Board Chairman Do Quang Hien, this year, the bank plans to pay dividends to shareholders at a higher rate than last year.

In addition, Mr. Do Quang Vinh, Vice Chairman of SHB Board of Directors, also said that the process of transferring the remaining 50% of capital at SHB Finance Company Limited (SHBFC) to Thailand's strategic partner Krungsri is being accelerated and may be completed this year. Accordingly, SHB's Board of Directors agreed to transfer the remaining 50% of capital earlier than 2025 to bring benefits to the bank and shareholders. SHB is negotiating and carrying out procedures to submit documents to the State Bank on the conversion of legal form in accordance with the law.

SHB Board of Directors Vice Chairman Do Quang Vinh said that the process of transferring the remaining 50% of capital at SHBFC to Thailand's Krungsri is being accelerated and could be completed this year.

Previously, on May 23, 2023, SHB completed the transfer of 50% of its capital at SHBFC to Krungsri Bank. Based on Krungsri's proposal to purchase the remaining 50% of charter capital at SHBFC earlier than the agreed schedule in the Joint Venture Contract signed on August 21, 2021, SHB's Board of Directors approved in accordance with Resolution No. 27/2024/NQ-HDQT dated November 4, 2024. In addition, SHB is also completing the capital transfer procedures at SHB Laos and selecting a suitable partner at SHB Cambodia, aiming to streamline operations and focus on strategic markets.

Regarding the 2025 business plan, SHB targets pre-tax profit of VND14,500 billion, equivalent to a growth rate of 25% compared to the expected results of 2024. The bank's total assets are expected to reach VND832,221 billion by the end of the year, an increase of about 11%. Outstanding credit is also targeted to grow by 16%, to VND617,624 billion. The bank aims to control the bad debt ratio at a level not exceeding 2% to ensure credit quality and operational safety.

As of March 31, 2025, SHB's total consolidated assets were recorded at VND 790,742 billion, an increase of 6% compared to the end of 2024. At the end of the first quarter of 2025, the bank recorded pre-tax profit of nearly VND 4,400 billion, equivalent to 30% of the 2025 profit plan.

SHB General Director Ngo Thu Ha believes that 16% credit growth is completely feasible.

According to SHB General Director Ngo Thu Ha, outstanding credit balance at SHB as of March 31 reached VND575,777 billion, up 7.8%. This result was achieved thanks to the bank actively expanding its strategic customer base, from large, small and medium enterprises (SMEs) to the retail segment. "With the current foundation and implemented solutions, the credit growth target of 16% this year is completely feasible," Ms. Ngo Thu Ha Ha affirmed.

In response to concerns about the impact of new US tax policies on Vietnamese exports, Mr. Do Quang Hien said that SHB had a meeting with the US Ambassador and proactively developed response scenarios. Currently, export customers account for a small proportion of SHB's credit portfolio, so the impact is insignificant. However, SHB is still proactively preparing response scenarios to ensure uninterrupted operations.

At this General Meeting of Shareholders, SHB elected Mr. Phan Dang Tuat as an independent member of the bank's Board of Directors for the 2022-2027 term, increasing the number of Board members to 7, including 2 independent Board members.

Source: https://nhandan.vn/loi-nhuan-tang-truong-25-shb-du-kien-phan-phoi-7317-ty-dong-chi-tra-co-tuc-post874625.html