SHB seeks to become leading retail bank

The Saigon-Hanoi Commercial Joint Stock Bank (SHB) said it will pour around 3 million USD into an information technology modernisation project in a bid to become one of Vietnam’s leading retail banks by 2010.

SHB is currently preparing for listing on the Hanoi Securities Trading Centre after it received permission in principle from the Hanoi bourse early last week.

The bank will open five more branches in the central provinces of Nghe An and Khanh Hoa, the Central Highlands provinces of Lam Dong and Gia Lai and the southern province of Dong Nai, bringing its total transaction offices to 42 across the country.

By the end of August, the total savings deposits SHB raised from the public and businesses had reached more than 8.12 trillion VND and its total lending, over 5.7 trillion VND.

VNA

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