SHB achieves excellent cost control with a CIR of only 23% in 2023, with profits exceeding 9,200 billion VND.

Saigon - Hanoi Bank (SHB) has recently released its consolidated financial report for the year 2023, showcasing stable business growth and strong safety indicators amidst a challenging market.


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In 2023, SHB’s net income from business operations reached VND 20,523 billion, an increase of 20% compared to 2022. Pre-tax profit reached VND 9,245 billion. The business efficiency is stable, with good growth in ROE, NIM… SHB has consistently been at the top of the group of banks with the best cost control for many consecutive quarters. The increase in provisions for risks compared to 2022 helped SHB continue to improve its risk provision coverage to 75%.

As of December 31, 2023, SHB’s total assets reached VND 630 trillion; Capital market funding 1 reached VND 497 trillion; Basel II equity reached VND 70.3 trillion; Charter capital reached VND 36,194 billion, maintaining its position as one of the top 4 largest private commercial banks in the system.

SHB’s credit portfolio reached VND 455 trillion, an increase of 17.1% compared to the end of 2022; focusing on production business sectors, priority sectors according to the Government’s policy, State Bank’s policy, sectors that are driving economic growth such as agriculture, rural areas, exports, processing and manufacturing industry, construction, infrastructure, consumption…

In the context of a difficult and challenging domestic and international market, SHB always puts the common interests, the sustainable development of the nation and the community first, taking social responsibility as the guiding principle in all activities. As a pioneering and proactive bank in response to the government’s guidance, the State Bank of Vietnam, SHB always accompanies businesses and people even in the most difficult periods with practical and timely actions.

In addition to the efforts to reduce costs, SHB has implemented many preferential credit programs with a scale of tens of trillions of VND for new customers and interest rate reduction phases for existing customers. The total amount of interest reduced for customers amounted to more than VND 2,800 billion. Other non-financial support policies are also timely and continuously implemented by the Bank to help businesses overcome difficulties, maintain stability and recover growth.

SHB’s business results are achieved in parallel with the strict implementation of risk management policies. SHB’s safety and risk management indicators are better than the regulations of the State Bank, complying with Basel II and Basel III standards in liquidity risk management.

In 2023, SHB’s comprehensive and strong transformation towards a modern and future-standard bank is also recorded. In particular, the digital transformation with clear strategies and directions has achieved positive results, helping SHB achieve good growth in customer and transaction segments.

Last year, SHB expanded 5 more branches and 25 transaction offices, increasing the total number of domestic and international transaction points to 569. SHB’s extensive network, is quickly responding to the financial transaction needs of all customer groups, connecting economic components, creating jobs for many workers, contributing to the innovation and development of provinces and directly contributing to the state budget at localities.

With a sustainable development strategy, increasing financial capacity and foundation factors to promote business activities in key segments, in 2023, SHB completed the transfer of 50% of SHBFinance shares to Krungsri Public Company Limited (a subsidiary of Ayudhya Bank) from Thailand; at the same time, partnering with international financial institutions such as WB, IFC, ADB, KfW… to implement billion-dollar projects, including signing a Credit Agreement with IFC with a loan package of USD 120 million.

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