At the end of 2024 - the pivotal year of the Transformation Strategy, SHB recorded breakthrough business results with pre-tax profit of more than VND 11,543 billion, up 25% over the previous year and exceeding the plan approved by the Annual General Meeting of Shareholders. The bank continues to affirm its position in the TOP 5 largest private commercial banks in Vietnam and reach the regional level.
Saigon - Hanoi Bank (SHB) announced its 2024 financial report, recording total assets of more than VND 747 trillion, an increase of 18.5% compared to the end of last year. Outstanding credit balance was nearly VND 534 trillion, with a credit growth rate of 18.2%. The bank closely follows the direction of the Government and the State Bank to direct capital flows into priority areas of economic development.
The bank continues to ensure safety, liquidity, and risk management indicators comply with and are better than the regulations of the State Bank. The capital safety ratio (CAR) is above 12% according to Basel II standards, the liquidity risk ratio meets Basel III standards, and the goal of controlling bad debt is completed according to the plan of the General Meeting of Shareholders (GMS).
Total assets of SHB from 2019 - 2024
In 2024 - the pivotal year of the Transformation Strategy for the period 2024-2028, SHB recorded pre-tax profit of VND 11,543 billion, an increase of 25% compared to 2023 and exceeding the plan approved by the General Meeting of Shareholders. The operating cost/total operating income ratio (CIR) is at 24.5% - the lowest group in the industry thanks to promoting digitalization of processes and application of technology in operations, services and products across the system. Return on equity (ROE) is 21.4%, maintaining the industry's leading profitability.
Last year, SHB completed and exceeded many targets assigned by the General Meeting of Shareholders at the beginning of the year, including: total assets, credit growth, bad debt control and pre-tax profit . These figures not only affirm the Bank's confidence and determination but also continue to affirm SHB's position and stature in the domestic financial market, improving management capacity according to international standards, and a modern model reaching regional levels.
Recently, the State Bank of Vietnam approved SHB to issue nearly 403 million shares to pay 2023 dividends at a rate of 11% to increase its charter capital to VND 40,658 billion, maintaining its position in the TOP 5 largest private commercial banks in Vietnam. Previously, the Bank paid the first 2023 dividend in cash at a rate of 5% to shareholders.
With a strong financial foundation, sustainable, safe and effective development, in the first time the Fortune SEA 500 ranking was announced, SHB ranked 137th among the organizations with the largest revenue in Southeast Asia and ranked 17th among financial organizations and enterprises in Vietnam. SHB is also one of the 5 banks that have contributed the most to the budget over the past many years.
In 2024, SHB continuously won important awards from prestigious domestic and international organizations such as: TOP 50 most profitable enterprises in Vietnam, TOP 10 most prestigious private commercial banks in Vietnam ranked by Vietnam Report; TOP 100 Vietnam Golden Star Awards 2024...
In particular, the Bank was honored for its digital services and products with a double award at the Digital CX Awards 2024: Outstanding Digital CX - Cash Management Platform for the product "Collection service via SLINK identity account" and Best Technology Implementation for Digital CX with the solution "ACAS automatic credit approval system". The above two digital solutions were both researched and implemented by SHB on its own internal resources and personnel, marking a step forward in the journey of digitalization, strong transformation, applying the most modern solutions such as artificial intelligence (AI), big data (Big Data), machine learning (Machine learning), cloud computing, biometrics... into internal processes and operating systems.
Currently, SHB's products and services are mostly digitized, the proportion of transactions via digital channels and online platforms is continuously increasing in the TOP of the industry. To date, more than 95% of SHB's operations are carried out entirely on digital channels. More than 98% of transactions of individual and corporate customers are carried out entirely through Mobile banking and Internet banking channels.
With outstanding marks in 2024, from a clear strategy, differentiated, suitable for each stage and long-term orientation, along with a solid foundation and cultural depth, SHB confidently enters a period of strong and comprehensive transformation with determination and a new mindset, joining the country in entering a new era - the era of the Vietnamese people's rise.
Sustainable development goes hand in hand with social responsibility
Along with the goal of developing business activities, SHB is determined to pursue sustainable development, in line with national orientation, associated with social responsibility, accompanying people and businesses in difficult times.
Responding to the Prime Minister's call and in the spirit of mutual love, SHB donated 100 billion VND to Soc Trang province to support the construction and repair of houses for poor and near-poor households in the province. At the same time, as part of the program to support the construction of 150 houses and a school for people in disaster-stricken areas, SHB and the Ministry of Public Security donated houses to people in Son La province and are continuing the journey in other provinces and cities such as Tuyen Quang, Dien Bien, Yen Bai, Ha Giang, Cao Bang, Bac Kan, Thai Nguyen, etc.
Along the S-shaped strip of land, SHB's footprints have appeared everywhere, from the highlands, the homeland's frontiers to build new schools such as 2 projects with a total value of more than 12.5 billion VND in 2 highland communes of Dien Bien province, to difficult circumstances, poor households in the provinces and cities.
After Typhoon Yagi passed, SHB immediately implemented support activities and visited customers and people in the affected areas. At the same time, the Bank implemented financial policies to promptly support people and businesses, helping to stabilize their lives and restore production and business after the storm.
With its activities accompanying society in the past year, SHB was honored as "Bank for People of the Year", recognizing the Bank's efforts in contributing to the community, creating sustainable values for the country.
Throughout three decades of development, SHB has always taken the Heart as the root, accompanying the people and the community, creating and spreading good values, developing the economy in parallel with social development, joining hands to build a strong and prosperous country.
In the 2024-2028 period, SHB is focusing resources to implement a strong and comprehensive Transformation Strategy based on 4 pillars: Reforming mechanisms, policies, regulations, and processes; People are the subject; Taking customers and markets as the center; Modernizing information technology and digital transformation and steadfastly following 6 core cultural values "Heart - Trust - Faith - Knowledge - Intelligence - Vision".
The Bank sets a strategic goal of becoming the TOP 1 Bank in terms of efficiency; the most favorite Digital Bank; the best Retail Bank and at the same time the TOP Bank providing capital, financial products and services to strategic private and state enterprise customers, with a supply chain, value chain, ecosystem, and green development.
Source: https://phunuvietnam.vn/nam-ban-le-trien-khai-chien-luoc-chuyen-doi-lai-truoc-thue-shb-tang-25-dat-11543-ty-dong-vuot-ke-hoach-nam-20250124182555989.htm
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