SHB will hold its 2024 annual general meeting of shareholders on April 25, unveiling its 2024-2028 transformation strategy with clear steps, aiming to become the TOP 1 bank in terms of efficiency, the most favorite Green Bank, Digital Bank; the best retail bank, while being a TOP bank providing capital, financial products and services to strategic corporate clients with a green development supply chain and value chain ecosystem.
2024 is identified as the pivotal year of transformation, strengthening internal capacity and maintaining sustainable and efficient growth. The Bank targets a breakthrough in profit, reaching VND 11,286 billion, an increase of 22% compared to the previous year. Total assets will reach VND 701,000 billion, charter capital of VND 40,658 billion, an increase of nearly 12%; strictly control the bad debt ratio below 3%.
SHB’s targets affirm a strong step forward, expanding its scale to meet the increasing capital demand of the economy; while increasing competitiveness in international integration and meeting the interests and expectations of shareholders. SHB has been and continues to cooperate with leading global partners such as BCG, IFC, PWC…
The Bank will strengthen internal capacity, while maintaining sustainable and efficient growth, developing on the basis of the Bank’s four pillars: Innovating mechanisms and institutions; People are the main body; Customer-centric; Information technology platform and digital transformation. The Board of Directors will direct the implementation of solutions and measures to achieve the targets with the motto “Innovation – Responsibility – Efficiency”, with 6 core cultural values: “Heart – Trust – Faith – Knowledge – Wisdom – Vision”.
Throughout 2023, in the context of macroeconomic challenges, with a solid financial foundation and a strong transformation speed, SHB firmly maintains the position of a leading financial institution in the system with charter capital reaching VND 36,194 billion, belonging to the TOP4 largest private banks in Vietnam. Capital safety ratios and risk management are always better adhered to than the regulations of the State Bank, liquidity risk management in accordance with Basel II and Basel III standards. Pre-tax profit in 2023 reached VND 9,239 billion and was the most efficient bank with a CIR of 23.7 – the lowest in the system, in which comprehensive digitalization made a significant contribution to help the bank optimize costs.
Initiating the 5-year transformation strategy
In the 2024-2028 strategy, SHB sets clear key targets, gradually expanding its scale, strengthening its financial foundation, developing customers, investing in technology towards a modern banking model, a bank of the future.
With its position in the TOP4 largest private banks in the system, SHB will continue to strengthen the exploitation of strategic customer segments, expand relationships with large customers, and exploit the ecosystem and value chain of strategic customer segments and large customers. Based on the cooperation platform with the corporate customer group, SHB continues to promote the development of the Ecosystem Bank, ensuring mutual prosperity and connectivity between SHB and these customer segments.
Besides, in line with the common trend of the market, SHB expands and promotes retail operations in a multiplicative effect. Grow retail banking through banking solutions for employees, workforce of strategic customer segments, large customers and the ecosystem and value chain of these customer segments, expanding to the whole family.
Aiming to improve financial and operational efficiency, enhance labor productivity, SHB will focus on developing high-quality human resources, standardizing and digitizing processes, and applying effective risk management measures. Combined human and technological factors create a driving force for the entire banking system. At the same time, the bank continues to apply industry standards and best practices, while adapting to SHB’s transformation roadmap to minimize risks and optimize efficiency across the bank.
The transformation strategy is implemented by SHB in 3 phases with a specific roadmap, ensuring a comprehensive transformation from creating fundamental growth to comprehensive development of modern banking activities. In the period 2024 – 2025, SHB will build and develop the platform; 2026- 2027 is the period of accelerating growth, and by 2028, it will be a breakthrough, effective and sustainable.
SHB is gradually transforming itself on the path of development, continuing and innovating, towards a sustainable future, spreading good values to the society, joining hands to build a strong Vietnam.
