Who are the two faces with the last name Do who have just been elected to the Board of Directors of SHB Bank?

The list of personnel elected to the Board of Directors includes 6 people: Mr. Do Quang Hien, Mr. Vo Duc Tien, Mr. Nguyen Van Le, Mr. Thai Quoc Minh, Mr. Do Quang Vinh and Mr. Do Van Sinh.

Thus, compared to the old term, the new term has 2 new members, Mr. Do Quang Vinh and Mr. Do Van Sinh. Meanwhile, members of the previous term, including Mr. Pham Cong Doan, Mr. Trinh Thanh Hai, and Ms. Nguyen Thi Hoat, were not nominated.

Of the two new faces, Mr. Do Quang Vinh was born in 1989, the son of Mr. Do Quang Hien (Chairman of the Board of Directors). The youngest member of the Board of Directors of SHB currently holds senior management positions at SHB such as Deputy General Director of SHB, Head of Digital Banking Division cum Deputy Director of SHB Retail Banking Division, Standing Vice President Board of members of Saigon – Hanoi Commercial Joint Stock Bank Finance Company Limited.

The fact that Chairman Do Quang Hien’s son was elected to the Board of Directors of SHB can be considered an important step in the process of gradually transferring power from “electing” Hien to the eldest son of the Do family. Previously, in 2021, Mr. Hien also showed his confidence in his successor when he gave the power of Deputy General Director in charge of digital banking to Mr. Do Quang Vinh.

Two new members of the Board of Directors of SHB, Mr. Do Quang Vinh and Mr. Do Van Sinh.

Meanwhile, it is quite surprising that Mr. Do Van Sinh is a new face in the Board of Directors of SHB. Mr. Sinh is known as a politician when he is a familiar face on the National Assembly forum.

Born in 1961 in Lien Ha commune, Dong Anh district, Hanoi, Mr. Do Van Sinh is a member of the 14th National Assembly, belonging to the National Assembly Delegation of Quang Tri province. He is a full-time National Assembly member, Standing member of the Economic Committee of the XIV National Assembly.

Mr. Sinh is a Doctor of Economics, majoring in Accounting and Banking, National Economics University. Mr. Sinh used to hold the positions of Head of Financial Planning Department of Vietnam Social Security, Deputy General Director of Vietnam Social Security.

At the General Meeting of Shareholders, Chairman of the Board of Directors of SHB, Mr. Do Quang Hien, said that SHB’s profit in the first quarter of 2022 was VND 3,226 billion, completing about 30% of the year plan. The bank set a profit target of 11,686 billion dong, a sharp increase of 87% compared to 2021. At the same time, asset quality was controlled, the bad debt ratio fell below 1.3%.

SHB also plans to sharply increase charter capital this year, from VND 26,673 billion to VND 36,007 billion. If successful, SHB’s charter capital will surpass many big banks such as Techcombank, Agribank, ACB.

Specifically, in 2022, SHB will increase capital in two components.

In the first phase, SHB will issue more than 400 million shares to pay dividends to shareholders, equivalent to 15%. Capital from profits in 2021. Expected time of issuance in the third quarter of 2022

In the second phase, SHB will offer more than 533.3 million shares to existing shareholders according to the method of exercising the right at the rate of 20%. The asking price is only 12,500 VND/share, much cheaper than the current market price (around 20,000 VND/share). The expected completion time is in the third quarter of 2022 or until SHB completes the procedures as prescribed by law.

Mr. Do Quang Hien affirmed that SHB set the target of Top 3 in terms of profit and efficiency, not following the goal of scale. In SHB’s strategy, 2025 is number 1 in terms of efficiency, key indicators must achieve high efficiency. In 2025, SHB will also be the most popular modern digital bank. This goal also shows SHB’s ambition to raise to new heights, not only domestically and meet international standards. When the bank is profitable, the interests of shareholders are also increased.

On April 20, the day of the General Meeting of Shareholders, HSB’s stock price dropped to the floor at 16,900 dong/share after 5 consecutive price drops. Talking about the low stock price, Mr. Do Quang Hien said:

“It is true that stock prices have dropped recently. Prices in the market will go up and down. However, shareholders who can analyze will see a higher value than the current market price. We should have the confidence and the analysis to invest in valuable, sustainable stocks.”

Ngan Giang