AsemconnectVietnam - Saigon - Hanoi Commercial Joint Stock Bank (SHB) has just announced its consolidated financial statements for 2023 with stable business growth results and safety indicators in the context of the market experiencing many difficulties.

As of December 31, 2023, SHB's total assets reached VND630 trillion; Capital mobilization in market 1 reached VND497 trillion; Equity capital according to Basel II reached VND70.3 trillion; Charter capital reached VND36,194 billion, continuing to maintain its position in the Top 4 largest private commercial banks in the system.
SHB's outstanding credit balance reached VND455 trillion, an increase of 17.1% compared to the end of 2022; Focusing on production and business fields, priority fields according to the policies of the Government and the State Bank, fields that are the driving force for growth of the economy such as: rural agriculture, export, industry processing and manufacturing, construction, infrastructure, consumption...
Net income from business activities reached VND20,523 billion, an increase of 20% compared to 2022. Profit before tax reached VND9,245 billion. Business performance is stable, SHB's ROE, NIM... indexes are all good with good growth, especially the CIR index reached 23%. SHB has continuously ranked first in the group of banks with the best cost control for many consecutive quarters. Increased risk provision costs compared to 2022 help SHB continue to improve risk provision cushion to 75%.
In addition to efforts to reduce costs, SHB has implemented many preferential credit programs with a scale of tens of thousands of billions of dong for new customers and interest rate reductions for existing customers. The total amount of reduced interest for customers amounted to more than VND2,800 billion. Other non-financial policies and support are also deployed promptly and continuously by the Bank to help businesses overcome difficulties to maintain, stabilize and restore growth.
SHB's business results are achieved in parallel with the implementation of strict risk management policies. SHB's safety and risk management indicators are all better than the State Bank's regulations, complying with Basel II and Basel III standards in liquidity risk management.
The year 2023 also records SHB's strong and comprehensive transformation towards a standard modern banking model in the future. In particular, digital transformation with clear strategies and development directions has achieved positive results, helping SHB achieve good growth in customers and transactions.
SHB has built many digital products, bringing new "online" features such as: Mobile application for corporate customers SHB Corporate Mobile helps entrepreneurs proactively manage anytime, anywhere; SHB SAHA app integrates nearly 40 new features, bringing new and different experiences for science and technology; Features of selling foreign currency online...
In operations, SHB continuously automates many internal processes for management, including applying digital technology to management activities, enhancing risk management, and applying artificial intelligence. Created to support business...
To date, at SHB, 90% of key banking operations can be performed entirely on digital channels, exceeding the target according to the Banking Industry's Digital Transformation Plan to 2025. At the same time, 90% of transactions of corporate and individual customers are carried out entirely through Mobile banking and Internet banking digital channels.
Last year, SHB expanded 5 more branches and 25 transaction offices, bringing the total number of domestic and international transaction points to 569. SHB's large network has been promptly meeting transaction needs. financial services for all customers, connecting economic sectors, creating jobs for many workers, contributing to building innovative and developed provinces and cities, especially in mountainous and rural areas and directly contribute to the state budget at localities.
With a sustainable development strategy, increasing financial capacity and fundamental factors, thereby promoting business activities in key segments, in 2023, SHB has completed the transfer of 50% of capital. SHBFinance shares for Ayudhya Bank Limited (Krungsri) of Thailand; At the same time, accompanying international financial institutions: WB, IFC, ADB, KfW... to implement billion-dollar projects, including signing a Credit Contract with IFC with a loan package worth USD120 million.
2023 is a special year for SHB when the bank celebrates 30 years of development, accompanying the country with a series of strong orange spreading activities from internally to customers and the community. SHB was honored to be awarded the Third Class Labor Medal by the Party and State, and prestigious domestic and international organizations honored many important awards such as: Best Trade Finance Bank in Vietnam, Best Trade Finance Bank in Vietnam, has the best ESG impact in Vietnam, Outstanding Bank for the Community, Best Workplace in Asia... That is an extremely valuable recognition of the Party, State and community for the positive contributions of SHB into the country's socio-economic development.
N.Nga
Source: VITIC/Tinnhanhchungkhoan