During his four years as an executive and manager at the bank, Vinh breathed new life into all operations and left a lasting impression on the journey of comprehensive transformation.
From April 19 to May 17, Mr. Do Quang Vinh, Vice Chairman of the SHB Board of Directors, will start buying more than 100.2 million SHB shares, with the expectation of increasing his ownership to 101.1 million shares, corresponding to 2.79% of the capital. If the transaction is successful, Mr. Vinh will be the individual with the highest percentage of SHB ownership on the bank’s Board of Directors. The value of Mr. Vinh’s shares is estimated at over VND 1,160 billion based on the market price.
After news of the transaction by SHB Vice Chairman Do Quang Vinh, SHB shares rose to the ceiling in the April 15 session. However, the general market declined sharply, causing SHB stocks to narrow their upward momentum. At the end of the session, SHB was the only stock that held a green color in the banking sector and the VN30 group, and it was also one of the 10 stocks that increased the most in the market. Trading volume reached nearly 100 million shares in the session, the second highest in history, and foreign investors also net bought more than 2.7 million SHB shares. In the following sessions, SHB shares maintained a green color despite market fluctuations. On April 19, SHB shares traded actively, staying green throughout the session, despite a sharp decline in the overall market. At the end of the session, SHB shares were priced at VND 11,150/share and were one of only two stocks in the VN30 basket and among the few banking stocks that increased in price, supporting the market.
The movement of SHB shares somewhat reflects the confidence of investors in the information about the large-volume purchase registration by SHB Vice Chairman Do Quang Vinh, as well as the expectation of significant progress in the future and a strong and comprehensive transformation strategy.
SHB Vice Chairman Do Quang Vinh – A talented young businessman behind billion-dollar deals
Three years ago, Mr. Do Quang Vinh returned to Vietnam from the United States and took up the position of Deputy Director of SHB’s Retail Banking Group. He was later appointed Deputy General Director in charge of several key responsibilities, particularly the bank’s comprehensive transformation strategy. At the 2023 Annual General Meeting of Shareholders, he was elected to the position of Vice Chairman of the Board of Directors, becoming the youngest leader in the bank’s history.
Over time, Mr. Do Quang Vinh’s image has become synonymous with breakthroughs and innovation at SHB, as well as the success of billion-dollar deals.
When discussing the notable achievements of SHB Vice Chairman Do Quang Vinh, it is impossible to ignore the capital divestment transaction at SHB Finance. In August 2021, as Chairman of SHB Finance, Mr. Do Quang Vinh chaired and directly participated in the negotiation process and signed an agreement to transfer 100% of the charter capital of the consumer finance company to Krungsri Bank of Thailand.
According to Krungsri, the deal was valued at an estimated US$156 million, equivalent to VND 3,500 billion, 3.5 times SHB Finance’s charter capital. In May 2023, SHB completed the first phase, transferring 50% of SHB Finance’s capital to the Thai bank. The two parties will continue to transfer the remaining 50% of the charter capital after 3 years as per the signed agreement.
At that time, SHB Vice Chairman of the Board of Directors Do Quang Vinh emphasized that this transaction would bring a significant surplus to SHB shareholders, creating more resources for the bank to promote its business activities in core segments, strengthen its financial capacity, and increase its capital buffer. In particular, SHB will continue to invest more in the transformation process, opening up new development opportunities in the region.
Also in 2023, businessman Do Quang Vinh continued to make his mark on the commercial landscape with the capital transfer deal at Saigon – Hanoi General Insurance Corporation (BSH). Mr. Vinh, as Chairman of the Board of Directors of BSH, presided over the entire capital transfer negotiation process between BSH shareholders and DB Insurance Co., Ltd (DBI), a leading non-life insurance company in South Korea. In March, BSH announced that strategic shareholder DB Insurance Co., Ltd holds 75% of BSH’s charter capital. The value of the deal was not disclosed, however, there are many reports in the market indicating that the figure reached billions of dollars. Notably, in addition to the deal at BSH, Mr. Vinh also played an important role in connecting, advising, and co-signing with Vietnam Aviation Insurance Corporation (VNI) to sign a contract to transfer 75% of its capital to DBI.
After joining the leadership and management of SHB and SHS, Mr. Vinh also registered to buy a large number of shares in these organizations, as a confirmation of the development potential of the businesses and banks, and to accompany and strengthen the confidence of other minority shareholders in the market. At the beginning of April, Mr. Vinh also completed the purchase of all 5 million registered SHS shares, increasing his ownership to over 1.54%.
A leader of the next generation – innovating and building the future
Known not only as a businessman who “closes deals” worth billions in the commercial arena, Mr. Do Quang Vinh is an innovative leader who promotes and creates breakthrough changes for organizations.
During his more than four years in an executive role at SHB, Mr. Vinh has brought a fresh perspective to all aspects of the bank’s operations, particularly in the areas of transformation, digitization, and human capital development.
Under the leadership of the young leader, SHB’s digitization process has been rapidly accelerated. State-of-the-art technologies such as artificial intelligence (AI), big data, and others are applied to support business activities and administrative work.
The bank has built a digital ecosystem with over 80 features, creating a completely digital experience journey for retail customers. Currently, 90% of critical banking transactions can be carried out entirely on the digital platform; over 90% of customer transactions are conducted entirely through the Mobile Banking and Internet Banking channels. As a result, the number of customers and transactions has increased significantly.
In SHB Vice Chairman Do Quang Vinh’s transformation strategy, the factors of creativity, embracing innovation, and changing processes are vigorously implemented. As a result, a series of high-quality products have been created, notably the SLINK Collection Service through a designated account and the Automated Credit Approval System (ACAS), which has received high praise from organizations. SLINK was built based on an initial idea from an employee in SHB’s business unit.
The 8X Vice Chairman always emphasizes the human factor. In addition to recruiting experienced and talented personnel with “no limits” to drive transformation and market knowledge, the bank continuously creates various training courses to enhance the professional skills of its leadership team and staff. The influence of the young leader has created a driving force that propels everyone
