SHB in the Top 200 of the Fortune SEA 500 List, expanding its regional and international reach
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- 16:08 19/06/2024
DNHN - In the first-ever Fortune SEA 500 list, Saigon-Hanoi Commercial Joint Stock Bank (SHB) ranked 137th among the largest revenue-generating organizations in Southeast Asia.
On June 18, Fortune magazine released its inaugural list of the 500 largest financial corporations and enterprises in Southeast Asia based on revenue (Fortune Southeast Asia 500 - Fortune SEA 500). SHB ranked 137th in Southeast Asia and 17th among financial institutions and businesses from Vietnam featured in the list.
In Vietnam, SHB is among the top 4 largest private commercial banks with a solid financial foundation and effective business strategies. SHB's shares are part of the VN30, a group of leading large-cap stocks with high liquidity in the stock market.
As of March 31, 2024, SHB's total assets exceeded VND 621 trillion, with charter capital reaching VND 36,194 billion. Capital mobilized from economic organizations and individuals surpassed VND 481.8 trillion, while credit outstanding was over VND 452.8 trillion.
SHB's pre-tax profit reached VND 4,017 billion in the first quarter of 2024, up 11% compared to the same period in 2023, achieving 35% of the annual plan. This is the highest first-quarter profit in SHB's history. The bank's comprehensive transformation strategy has optimized operations, improved productivity, and reduced the cost-to-income ratio (CIR) to the lowest in the industry.
Affirming its position as a leading financial institution, SHB implements stringent risk management policies. Its capital adequacy ratios and risk management practices consistently exceed the requirements of the State Bank of Vietnam, adhering to Basel II and Basel III liquidity risk management standards.
At the end of April, SHB maintained its credit rating of B1 from international rating agency Moody's, demonstrating the bank's operational efficiency, safety, and sustainability amid market volatility.
With a robust foundation and deep-rooted culture, SHB remains steadfast in its sustainable, safe, and effective development orientation, continuously enhancing its governance capacity to international standards with a modern model. SHB's inclusion in the Fortune SEA 500 list is a clear testament to its stature in the market.
In the first half of 2024, SHB won several prestigious awards from both domestic and international organizations, such as "Bank with the Biggest ESG Impact in Vietnam," "Best SME Bank in Vietnam," "Most DEI Progressive Bank in Vietnam," and "Best Sustainable Finance Initiative 2024."
SHB's products and services also made a significant mark, becoming the first bank in Vietnam to win two Digital CX Awards 2024 for Outstanding Digital CX - Cash Management Platform with its Slink account management service and Best Technology Implementation for Digital CX with its ACAS automatic credit approval system.
A representative of SHB shared: "Ranking 137th in the Fortune SEA 500 and the awards we have received underscore our market position regionally and internationally. These achievements result from the strategic vision and leadership of our bank, with long-term, clear, and distinctive directions suited to each stage of development. Currently, we are undergoing significant and comprehensive changes as part of our 2024-2028 Transformation Strategy, focusing on four pillars and six core cultural values to achieve a strong breakthrough".
From 2024-2028, SHB is concentrating resources on implementing a comprehensive transformation strategy based on four pillars: reforming mechanisms, policies, regulations, and processes; focusing on people as the core; centering on customers and the market; modernizing IT and digital transformation while adhering to the six core cultural values of "Heart - Trust - Reputation - Knowledge - Wisdom - Vision".
The bank aims to become the top bank in efficiency, the most beloved digital bank, the best retail bank, and a leading bank in providing capital and financial services to strategic private and state enterprise customers, fostering supply chains, value chains, ecosystems, and green development.
SHB will continue to support the community and society in environmental protection activities, contribute to green growth, develop a green economy and circular economy, and support the Government's Renewable Energy Development Strategy until 2050. The bank will also engage in social charity activities, supporting the poor and those in difficult circumstances…
PV
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