SHB plans a profit of 11,686 billion dong in 2022, increasing capital to 36,459 billion dong
On April 20, Saigon – Hanoi Commercial Joint Stock Bank (SHB) held the Annual General Meeting of Shareholders in 2022.
At the meeting, SHB reported to shareholders business results in 2021, reaching a pre-tax profit of VND 6,260 billion, an increase of 91.6% compared to 2020.
As of December 31, 2021, SHB’s total assets reached VND506,604 billion, up 22.8%. Capital mobilization at the end of the year reached VND 378,441 billion and credit balance was VND 368,514 billion, up 11.9% and 16.4% respectively over the previous year. Bad debt ratio 1.69%.
In 2021, SHB has 2 notable events. The first is the transfer of SHB shares from HNX to HOSE and the second is the agreement to divest 100% of capital at SHB Finance for Krungsri Bank – Thailand within 3 years. The exchange has raised the capitalization of SHB to 59,471 billion dong (by the end of 2021), equivalent to 2.7 billion USD, 8.2 times higher than 5 years ago and ranked 9th in the group of private banks.
In 2022, SHB targets total assets to grow by over 12%, charter capital to grow by 37%, minimum expected pre-tax profit of VND 11,686 billion, an increase of 87% and a dividend of 18%.
The 2 targets of mobilized capital and credit balance are expected to reach VND 504,539 billion and VND 421,715 billion, up 9.8% and 14.4% respectively. Bad debt is expected to be less than 1.3%.
SHB also submitted to and approved by the General Meeting of Shareholders the issuance of shares to foreign investors and foreign strategic investors with the maximum expected rate of 20% of the additional capital, and expected to offer shares. for employees at the rate of 1.69%, equivalent to 45.12 million new shares.
After these transactions, together with the 2021 dividend payment in shares at the rate of 15%, SHB’s charter capital will increase to VND 36,459 billion.
This year’s General Meeting of Shareholders will elect the Board of Directors for the term 2022-2027, including the appearance of Mr. Do Quang Vinh, the son of Chairman Do Quang Hien.
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