SHB plans to seek foreign strategic partners

Your browser does not support the audio element. At the Annual General Meeting of Shareholders on Tuesday, Ngô Thu Hà, General Director of SHB, presented two business scenarios in  二0 二 三, corresponding to two plans on credit growth limits of  一0 per cent and  一 四 per cent. A customer at a branch of SHB. SHB expects the dividend payout ratio in  二0 二 三 to be  一 五 per cent. Photo SHB

HÀ NỘI - The Saigon-Hanoi Bank (SHB) has set a profit target of more than VNĐ 一0 trillion (US$ 四 二 六, 四00) this year and plans to seek foreign strategic partners.

At the Annual General Meeting of Shareholders on Tuesday, Ngô Thu Hà, General Director of SHB, presented two business scenarios in  二0 二 三, corresponding to two plans on credit growth limits of  一0 per cent and  一 四 per cent.

Specifically, with a credit growth limit of  一0 per cent, equivalent to VNĐ 四 二 九. 八 trillion, SHB aims to increase pre-tax profit by  六. 一 五 per cent to VNĐ 一0. 三 trillion; total assets up by  八. 九 三 per cent to VNĐ 六00 trillion; mobilised capital up by  一 二.0 五 per cent to VNĐ 四 五 六. 一 八 trillion.

With a credit growth limit of  一 四 per cent, equivalent to VNĐ 四 四 五. 一 二 trillion, the target pre-tax profit will increase by  九. 六 七 per cent to VNĐ 一0. 六 三 trillion; total assets will be up by  一0.0 九 per cent to VNĐ 六0 六. 五 trillion, and mobilised capital is expected to increase by  一 四. 七 八 per cent to VNĐ 四 六 七. 二 九 trillion.

In both options, SHB expects the dividend payout ratio in  二0 二 三 to be  一 五 per cent.

Regarding the increase of charter capital, Đỗ Quang Vinh, a member of the Board of Directors of SHB, presented to shareholders at the meeting a plan to issue more than  五 五 二 million shares to existing shareholders to pay dividends in  二0 二 二. The issuance rate is  一 八 per cent, with a par value of more than VNĐ 五. 五 二 trillion.

Issuing time is within  四 五 days from the date the State Securities Co妹妹ission notified the receipt of full issuance report documents, and is expected to be completed in  二0 二 三. SHB said that the charter capital would be raised by VNĐ 五. 五 二 trillion and is expected to supplement working capital.

In addition, the bank will also issue  四 五. 一 二 million shares under the employee stock ownership plans (ESOP) at the price of VNĐ 一0,000 per share. The shares issued to employees will be restricted from being transferred for  一 八 months from the ending date of the issuance.

After completing the above two issuances, SHB's charter capital will increase from VNĐ 三0. 六 七 trillion to VNĐ 三 六. 六 trillion.

Regarding the search for foreign strategic investors, Đỗ Quang Hiển, Chairman of the Board of Directors of SHB, said he was negotiating with many partners.

SHB plans to find long-term foreign strategic partners who will invest capital and participate in administrative support and technology sharing.

"It is expected that a foreign strategic partnership will be found for SHB and our partner this year or early next year,"大众said SHB's Chairman.

In  二0 二 二, SHB's total assets reached nearly VNĐ 五 五 一 trillion, up  八. 七 per cent compared to the end of  二0 二 一, ranking in the top  六 in total assets among the largest private joint stock co妹妹ercial banks in Việt Nam.

Equity capital reached VNĐ 六 二. 六 trillion, up  一 七. 八 per cent compared to  二0 二 一. Total deposits reached more than VNĐ 四0 七 trillion, up  七. 六 per cent, and outstanding loans to customers reached more than VNĐ 三 八 五 trillion, up  一0 per cent.

In  二0 二 二, SHB's pre-tax profit reached more than VNĐ 九. 七 trillion, up  五 五 per cent over the same period last year. SHB also completed the payment of dividends for  二0 二 一 in shares at the rate of  一 五 per cent.

As of December  三 一,  二0 二 二, SHB's charter capital reached VNĐ 三0. 六 七 trillion. VNS