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SHB increases charter capital to nearly US$1.51 billion
Vietnam News - 8/15/2023 10:59:22 AM
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 SHB successfully issued more than 552 million shares for dividend payment in 2022, thus increasing its charter capital to nearly VNĐ36.1 trillion (US$1.51 billion), according to State Securities Commission of Việt Nam.
The increase made the bank hold Top 4 position among private joint stock commercial banks in Việt Nam in terms of charter capital.
Earlier, SHB closed the list of shareholders to pay dividends in shares at the rate of 18 per cent. During its operation, SHB has been one of the banks with the highest and most regular dividend payout ratio in the market.
A representative of SHB said that the increase in charter capital was an important milestone for their development plan. It was approved at the Annual General Meeting of Shareholders, helping the bank strengthen its financial capacity and promote digitalisation to realise the goal of becoming the No 1 bank in terms of efficiency, applying leading modern technologies and being the most favourite digital bank by 2027.
SHB will continue to devote resources to long-term investment in people, technology systems and data, focusing on sustainable development under four strategic pillars, while ensuring sustainable business growth and bringing convenience and safety to customers and benefits to shareholders,” he added.
In 2023, the bank set a pre-tax profit target of over VNĐ10.6 trillion, posting 9.76 per cent year-on-year increase while total assets will grow by 10.09 per cent. By the end of the second quarter of 2023, SHB's business indicators achieved good growth. Its pre-tax profit reached over VNĐ6 trillion, increasing 5.13 per cent over the same period last year. After the first six months of the year, SHB completed 58 per cent of the set profit target.
The bank’s total assets reached VNĐ585 trillion, up 6.21 per cent compared to the beginning of the year while equity reached VNĐ66 trillion. SHB’s deposits achieved good growth with an increase of 13.7 per cent compared to the beginning of the year, reaching VNĐ462 trillion and credit balance reached VNĐ418 trillion.
SHB’s safety, liquidity, and risk management indicators were all better than those of the State Bank of Việt Nam and international standards. Since the beginning of the year, SHB has started to apply Basel III standards in liquidity risk management, with a compliance assessment by an international consulting firm. The results would be announced in the third quarter of 2023. — VNS
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