Recently, Vietnam Report JSC (Vietnam Report) in collaboration with VietNamNet newspaper announced the PROFIT500 ranking – Top 500 Most Profitable Enterprises in Vietnam in 2024.
Ms. Ninh Thi Lan Phuong – SHB’s Vice President represented the bank to receive the award Top 50 Most Profitable Enterprises in Vietnam in 2024
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This year, Saigon – Hanoi Commercial Joint Stock Bank (SHB) was honored in the “Top 50 Most Profitable Enterprises in Vietnam in 2024” in the PROFIT500 ranking. This is the 5th consecutive year that SHB has been on this list, while the bank is also in the Top 10 private enterprises with the best profits. This success marks another milestone in SHB’s journey of sustainable, safe and effective development, continuously improving governance in line with international standards, modern model, and enhancing service quality for customers.
In the context of economic challenges, SHB continuously innovates and creates the most optimal, convenient financial products, services, and solutions for customers. The bank keeps investing in technology, improving service procedures, and enhancing service quality to bring the highest value to customers, shareholders, and the community.
In the first nine months of 2024, SHB recorded a profit of VND 9,048 billion, achieving 80% of the annual plan. SHB’s charter capital reached VND 36,629 billion, continuing to maintain its position in the Top 5 largest private joint-stock commercial banks in Vietnam. The bank’s total assets were at VND 688,387 billion, up 9.2% compared to the end of 2023. These indicators reflect SHB’s effectiveness and sustainability, ranking among the top commercial banks in the system.
SHB is one of the few banks that have consistently paid dividends to shareholders over the years. Recently, SHB paid a 2023 cash dividend of 5% and is preparing to pay a 11% stock dividend, expected to increase its charter capital to VND 40,658 billion.
On the other hand, SHB is also one of the top 5 private banks that contribute the most to the state budget in Vietnam. According to the 2023 Consolidated Financial Statements, the total amount of state budget contribution made by SHB in 2023 was nearly VND 3,091 billion, making an important contribution to increasing the country’s revenue and thereby promoting socio-economic development. Being in the top group of private banks contributing the most to the state budget not only demonstrates the enterprise’s duty and responsibility to the community but also proves SHB’s sustainable and effective development in recent years.
In the period of 2024-2028, SHB is focusing its resources on implementing a comprehensive and strong Transformation Strategy based on 4 pillars: Reform of mechanisms, policies, regulations, and processes; People-centric; Customer and market-centric; and Modernization of information technology and digital transformation, while adhering to 6 core cultural values of “Heart – Trust – Faith – Knowledge – Wisdom – Vision”
Proactive companionship, fulfilling social responsibility
SHB always accompanies its customers to overcome difficulties and actively fulfills its social responsibility, spreading positive values to the community
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Over the past three decades, with a philosophy rooted in the Heart, SHB has always fulfilled its community responsibility and spread positive values to the people and society. When Typhoon Yagi caused severe damage to people and property in the northern provinces, SHB was one of the first banks to launch a special program to support corporate and individual customers affected by the storm, offering to cover 50% of the interest payable during the period from September 1 to December 31, 2024.
Especially for those who were severely affected and faced difficulties in restoring production, SHB may support up to 100% of the interest payable in the last four months of the year. At the same time, the bank also provides a credit package of VND 2,000 billion with an interest rate of only 4.5%/year for new loans to corporate and individual customers, helping to stabilize their lives and recover production after the natural disaster.
SHB has contributed to the Program to Support the Elimination of Temporary and Dilapidated Houses for Poor and Near-Poor Households nationwide and implemented interest reductions for affected customers, with an estimated value of nearly VND 150 billion. In addition, the bank has also sponsored the construction of two school projects in Dien Bien province with a total value of VND 12.5 billion.
SHB always accompanies its customers to overcome difficulties and actively fulfills its social responsibility, spreading positive values to the community
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Previously, SHB was honored with many awards from reputable domestic and international organizations such as: “Best SME Bank in Vietnam” by Euromoney; “Best Sustainable Financing Bank for SMEs” by Alpha Southeast Asia; Asian Banking and Finance (ABF) recognized SHB in two categories: “Best Domestic SME Collaboration Initiative” and “Best Domestic Financial Initiative with Social Impact”; “Bank with Typical Innovative Products and Services” at the Vietnam Retail Banking Forum and Vietnam Outstanding Banking Awards (VOBA) 2024; “Bank of the Year for People” at Better Choice Awards 2024…
In the first time that Fortune magazine announced the 500 largest financial corporations and enterprises in Southeast Asia (Fortune Southeast Asia 500 – Fortune SEA 500), SHB ranked 137th in the list and 17th among financial institutions and enterprises in Vietnam.
SHB sets its strategic goals to become the Top 1 bank in terms of efficiency; the Most Favorite Digital Bank; the Best Retail Bank; and the Top bank providing capital, financial products, and services to strategic private and state-owned enterprises with supply chains, value chains, ecosystems, and green development.
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Throughout its 31 years of development, starting from the Heart, SHB has been striving, creating, and spreading positive values to all its employees, customers, shareholders, and society. SHB would like to express its gratitude to its customers, partners, shareholders, and employees who have always accompanied the bank over the past three decades and pledges to continue its journey and reach new heights in the new era of the country – the era of Vietnam’s rise. |
SERVICES
SHB Ranks in the Top 10 Most Profitable Private Enterprises in 2024
Effective operations, sustainable growth, and positive contributions to the economy have earned SHB a place in the “Top 50 Most Profitable Enterprises in Vietnam.” This prestigious recognition highlights SHB’s remarkable performance and positions it among the top 10 most profitable private enterprises in the country.
“An Enticing Offer: Secure a Lucrative 8.2% Annual Interest on VND 50,000 Billion Worth of Bonds”
The funds raised from the bond issuance will serve as a strategic initiative to fortify the bank’s Tier 2 capital, enhancing its capital adequacy ratio. This move is designed to position the bank to meet the evolving borrowing needs of its customers, not just in 2024 but also in the years to come.
The Power of Collaboration: SHB and Vietnam Steel Corporation Join Forces
“The partnership between SHB and VNSTEEL marks a significant step forward in their bilateral relationship. Together, they are committed to mutual growth and dedicated to contributing to the development of the Vietnamese economy.”
“SHB: Empowering FDI Enterprises with Tailored Financial Solutions”
The influx of FDI into Vietnam presents a significant opportunity for the economy as a whole and, more specifically, for domestic banks. With their deep understanding of the local market, culture, and people, these banks are ideally positioned to support and facilitate the expansion and growth of FDI enterprises in the region. This unique advantage cannot be overstated, as it enables a level of assistance and ease of doing business that foreign investors may not find elsewhere.
Get an E-voucher worth up to 500,000 VND when you receive money via SHB QRCode
To enhance the online payment experience via QR code scanning on the SHB Mobile e-banking application, the Saigon-Hanoi Commercial Joint Stock Bank (SHB) is pleased to announce its latest promotional program, “New QR, Great Rewards.” This exciting initiative will run until December 31, 2024, and offers thousands of attractive gifts for our valued customers.
