SHB Bank appoints Ms. Ngo Thu Ha as the new CEO

DNHN - On August 15, 2022, Official Letter No. 5631/NHNN-TTGSNH of the State Bank approved Ms. Ngo Thu Ha to hold the position of General Director of SHB. Previously, Ms. Ha was assigned the role of Acting General Director by the Board of Directors of SHB.

Saigon - Hanoi Commercial Joint Stock Bank (SHB) has just announced information related to the appointment of senior personnel in the Bank's Board of Directors. According to regulations, the positions of personnel in the Board of Directors, the General Director of the bank, in addition to approving the shareholders' opinions, must also receive the approval of the management agency, the State Bank.

Official Dispatch No. 5631/NHNN-TTGSNH SHB dated August 15, 2022 said that the State Bank had approved Ms. Ngo Thu Ha to hold the position of General Director according to the previous proposal. After receiving the approval of the State Bank, SHB said that the bank's Board of Directors will carry out the next procedures to appoint the CEO in accordance with the law and the banking regulations.

The State Bank's approval of the Chief Executive Officer is of great significance to SHB in order to strengthen its governance capacity, contributing to the realization of the strong growth target in line with the medium and long-term strategic direction of the bank, towards the goal of becoming the No. 1 bank in terms of efficiency, applying leading modern technologies and being the most popular digital bank.

It is known that Ms. Ngo Thu Ha was born in 1973, is a Doctor of Economics. She has 28 years of experience in finance and banking and more than 11 years as Deputy General Director of SHB.

Ms. Ha used to hold many senior management positions at SHB-related organizations and financial institutions such as Member of the Board of Directors of SHB Securities Joint Stock Company (SHBS); Member of the Board of Directors of Saigon - Hanoi Commercial Joint Stock Bank Finance Company Limited (SHBFC)…

Previously, Ms. Ngo Thu Ha was selected by the Board of Directors of SHB to assume the position of Acting General Director. Along with that, Mr. Vo Duc Tien, Vice Chairman of the Board of Directors, was dismissed from his executive duties to focus on participating in bank governance as Vice Chairman and in charge of the Credit Council.

During her time at SHB, Ms. Ngo Thu Ha has held many important positions in the bank's business activities, contributing to the outstanding development of SHB, ranking in the Top 5 largest commercial joint stock banks in Vietnam.

Also recently, the State Bank of Vietnam has approved the change of SHB's charter capital to VND 26,674 billion. The successful continuous raising of capital in recent years is an important foundation for SHB to increasingly affirm and improve its reputation with the domestic and foreign investment community as well as international credit rating agencies.

Implementing the resolution of the General Meeting of Shareholders in 2022, SHB will increase its charter capital to VND 36,459 billion, expected to be in the Top 3 largest private joint stock banks in terms of charter capital. Accordingly, SHB has completed the dossier to submit to the SBV the plan to increase charter capital approved by the 2022 Annual General Meeting of Shareholders, including 3 parts: dividend payment in 2021 to existing shareholders at the rate of 15 % in shares; offering shares to existing shareholders by the method of exercising rights at the ratio of 100:20 with the offering price of VND 12,500/share and offering shares under the selection program to SHB employees with the total number of issued shares is 45.12 million new shares.

Under the direction and determination of the Board of Directors, the Board of Directors and the continuous efforts of all SHB employees, in the first 6 months of 2022, SHB has achieved impressive business results. As of June 30, 2022, SHB's total assets reached more than VND 522,000 billion, completing 91.7% of the 2022 plan. Total mobilized capital reached more than VND 471,000 billion; outstanding credit balance reached more than 390,000 billion dong, both targets completed 93% of the plan in 2022. Profit before tax reached nearly 5,900 billion dong (up 84%), ranked in the Top 5 of private commercial joint stock banks highest profit; net income from business activities reached nearly 9. billion VND (up 113%); Capital adequacy ratio according to Basel II standards reached nearly 12%, Moody's credit rating reached B1.

With positive business results achieved in the first 6 months, SHB's target of minimum total profit of VND 11,686 billion in 2022 is completely satisfactory. Good profitability and constantly improving charter capital are the premise for SHB to comply with Basel II to improve, anticipate Basel III, create a solid risk management foundation, and ensure a healthy development process, safe and effective.

H.H