At the Vietnam M&A Forum 2025, the most prestigious annual event in the mergers and acquisitions sector, organized by the Finance and Investment Newspaper, Saigon-Hanoi Commercial Joint Stock Bank (SHB) was honored as the “Enterprise with the Most Outstanding M&A Deal of 2024-2025.”
The award, selected by the Forum’s Expert Council, recognizes SHB’s remarkable achievements in M&A activities.
In early November 2024, SHB announced a resolution approving the sale/transfer of its capital in Saigon-Hanoi Commercial Joint Stock Bank Finance Company Limited (SHBFinance). As part of this, SHB will continue to transfer the remaining 50% of its equity in SHBFinance, as agreed upon with Thailand’s Ayudhya Public Company Limited (Krungsri), a subsidiary of Japan’s MUFG Group, in Phase 2.
This transaction is considered one of the most notable M&A deals in Vietnam’s Finance and Banking sector for 2024–2025.
“The ‘Enterprise with the Most Outstanding M&A Deal of 2024-2025’ award is a significant recognition of SHB’s relentless efforts in its robust and comprehensive transformation strategy. This includes restructuring, optimizing investment portfolios, and enhancing financial capabilities to drive growth in the new era. The capital transfer at SHBFinance not only provides critical resources for SHB’s sustainable growth phase but also demonstrates our strategic vision in partnering with leading international financial institutions like Krungsri and MUFG Group.
SHB is committed to pursuing a safe, efficient, and sustainable development strategy, accelerating digital transformation, and delivering value to customers and shareholders. We also aim to contribute positively to the growth of Vietnam’s Finance and Banking sector,” stated Vice Chairman of the Board and Deputy CEO of SHB, Do Quang Vinh.
Vice Chairman of the Board and Deputy CEO of SHB, Do Quang Vinh, representing the bank at the award ceremony
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The capital transfer of SHBFinance to Krungsri is also one of the multi-billion-dollar deals marked by Vice Chairman of the Board and Deputy CEO of SHB, Do Quang Vinh.
In August 2021, as Chairman of SHBFinance, Mr. Do Quang Vinh led and directly participated in negotiations, culminating in the signing of an agreement to transfer 100% of the consumer finance company’s equity to Thailand’s Krungsri. According to Krungsri, the deal was valued at approximately 156 million USD, equivalent to 3,500 billion VND, 3.5 times SHBFinance’s chartered capital.
In May 2023, SHB completed the transfer of 50% of its equity in Phase 1. Concurrently, SHBFinance transitioned from a One-Member Limited Liability Finance Company to a Limited Liability Finance Company under a new license from the State Bank of Vietnam. SHB and Krungsri are finalizing Phase 2 of the deal, following the partner’s proposal to acquire the remaining equity in SHBFinance ahead of schedule.
In 2023, businessman Do Quang Vinh made his mark with the capital transfer at Saigon-Hanoi Insurance Corporation (BSH). As Chairman of BSH, he led negotiations for the capital transfer between BSH shareholders and DB Insurance Co., Ltd (DBI), a leading non-life insurance company in South Korea. In March 2024, BSH announced that DB Insurance Co., Ltd had acquired 75% of its equity. While the deal value was not disclosed, market sources suggest it reached trillions of VND. Additionally, Mr. Vinh played a key role in connecting, advising, and collaborating with Vietnam National Aviation Insurance Corporation (VNI) to transfer 75% of its equity to DBI.
Vietnam is emerging as an attractive destination for regional M&A capital, driven by stable GDP growth, an improving regulatory framework, and breakthrough policies such as Resolution 66 on legal innovation and Resolution 68 on private sector development. Against this backdrop, the SHBFinance capital transfer and other SHB deals have been hailed by experts as transformative transactions in Vietnam’s M&A market.
As of September 30, 2025, SHB’s total assets reached 852,695 billion VND, a 14.1% increase from the end of 2024, surpassing the 2025 target and on track to hit 1 million billion VND by 2026. SHB maintains its position among the TOP 5 largest private commercial banks in Vietnam by chartered capital, with a market capitalization exceeding 3 billion USD.
Recently, SHB’s Annual General Meeting approved a 2025 capital increase plan totaling 7,500 billion VND. Under this plan, SHB will issue over 459 million shares to existing shareholders, offer 200 million shares to professional investors, and allocate more than 90 million shares under an Employee Stock Ownership Plan (ESOP). Upon successful issuance, SHB’s chartered capital is expected to rise to over 53,400 billion VND, ranking it among the TOP 4 private banks.
SHB is undergoing a comprehensive transformation, aiming to become the TOP 1 bank in efficiency, the most preferred Digital Bank, the best Retail Bank, and a leading provider of financial products and services to strategic private and state-owned enterprises. By 2035, SHB envisions itself as a modern Retail Bank, a Green Bank, and a leading Digital Bank in the region.
– 09:48 11/12/2025
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