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SHB honoured at VLCAs for fourth time
Saigon Hanoi Commercial Bank (SHB) was named among the Top 10 companies with the best annual reports in the financing sector at the 2024 Vietnam Listed Company Awards (VLCA) in Dalat, Lam Dong on November 16.
The award reaffirms the bank’s efforts to ensure transparency and governance according to best practices for sustainable development. It is the fourth time that SHB has received this honour.
Launched in 2018, VLCA is an extension of the Vietnam Annual Reports Awards. The awards are an annual event that evaluate and honour businesses with outstanding efforts in reporting, information disclosure, regulation compliance, corporate governance as well as environmental, social, and governance (ESG) practices. VLCA is organised by the Ho Chi Minh Stock Exchange, the Hanoi Stock Exchange, VIR, and Dragon Capital.
VLCA 2024 is supported by professional partners like ACCA, VIOD, International Finance Corporation, and leading audit firms PwC, Deloitte, KPMG, and EY, along with information from the State Securities Commission and both stock exchanges.
SHB’s 2023 annual report was lauded by the organising committee as it meets its strict criteria on content and form. The award recognises SHB's outstanding efforts in conveying transparent annual reports and corporate governance according to best practices on sustainable development, to improve operational efficiency and bring the best benefits to customers, shareholders, investors, partners, the community and the bank.
In the 31 years since its founding, SHB has reinforced its position as a top Vietnamese financial institution, reaching regional and international standards. The lender has been in the top five largest private joint stock commercial banks in Vietnam, top 10 prestigious private joint-stock commercial banks by Vietnam Report, and ranked 137th among the top 500 largest organisations in Southeast Asia by Fortune magazine.
In the first nine months of 2024, SHB’s accumulated pre-tax profit reached VND9 trillion ($355 million), fulfilling 80 per cent of its annual target. As of September 30, total assets stood at VND688.4 trillion ($27.2 billion), up 9.2 per cent from the end of 2023. SHB’s key business indicators are among the industry leaders.
SHB also engages in community activities, recently contributing to a scheme that supports poor and near-poor households nationwide living in temporary and dilapidated houses.
In addition, SHB has implemented interest reduction and exemption for customers, supporting people affected by the recent storms and floods, estimated at nearly VND150 billion ($5.9 million). The bank has sponsored two school projects in Dien Bien province with a total value of VND12.5 billion ($492,000), and is also working with the Ministry of Public Security to build 150 houses and a school for people in disaster-affected areas.
From now until 2028, SHB will channel its resources to implement a comprehensive transformation strategy based on four pillars: institutional and mechanism reform; people as the subject; taking customers and the market as the centre; and modernising IT and digital transformation. The bank claims to follow its six core cultural values, 'Heart - Faith – Trustworthiness – Knowledge – Wisdom - Vision', strictly.
SHB has set a goal to become the most efficient bank in Vietnam, the most popular digital bank, the best retail bank, and the top bank for providing capital sources and financial products to both private and state-owned enterprises. SHB also boasts a green and sustainably developed supply chain, value chain, and ecosystem.
Moving forward, SHB will continue to support the creation and spread of good societal values within the community, working with others to build a strong and prosperous Vietnam in a new era for the country.
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