1. Assessment of the Board of Directors on SHB ‘s operations
The year 2024 continued to pose numerous challenges for both Vietnam’s economy as a whole and the banking sector in particular. Nevertheless, under the sound and timely leadership of the Party, the decisive and flexible governance of the Government, the concerted efforts of the entire political system, and the strong consensus and support from the public and the business community, Vietnam in general, and the banking industry in particular, achieved remarkable socio-economic development outcomes.
As a strategic guiding and decision-making body, in 2024 SHB’s Board of Directors proactively introduced timely solutions aligned with market dynamics. These actions served as a strong driving force for the entire system to mobilize resources and accelerate business performance. With a solid financial foundation, clear strategic vision, and the unity, determination, and innovative spirit of all staff members, SHB successfully fulfilled and exceeded its 2024 business targets. This accomplishment reaffirms SHB’s position and reputation while laying a robust groundwork for stronger growth in 2025, bringing the Bank closer to its strategic objectives for 2028.
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As of December 31, 2024, SHB’s consolidated total assets reached over VND 747 trillion, an increase of 18.6% compared to the end of the previous year. Total consolidated outstanding credit balance amounted to VND 533,984 billion, of which the Bank’s standalone credit balance reached VND 522,754 billion, marking a growth of 18.28%. SHB closely aligned its credit growth with the Government’s and the State Bank of Vietnam’s (SBV) directives, channeling capital into key priority sectors of the economy. The Bank continued to maintain strong liquidity, sound risk management practices, and compliance with safety indicators, all exceeding SBV requirements. The Capital Adequacy Ratio (CAR) stood at over 12% in accordance with Basel II standards, with liquidity risk indicators complied with Basel III standards. SHB also successfully met its Non-Performing Loan (NPL) control target as approved by the Annual General Meeting of Shareholders (AGM).
The Cost-to-Income Ratio (CIR) was held at an efficient 24.4%, among the lowest in the banking sector, thanks to ongoing digital transformation and the integration of advanced technologies across operations, services, and products.
2. Evaluation of the Board of Directors on the activities of the Board of Management
- The Bank is led by a dedicated and experienced management team, comprising reputable experts with decades of experience in investment, business administration, banking, and finance - both domestically and internationally. Under the leadership of this committed and seasoned team, SHB achieved sustainable growth in 2024 and was honored with numerous prestigious awards from both local and international organizations.
- Guided by the timely direction and leadership of the BOD, SHB’s BOM successfully implemented the policies, strategies, and resolutions approved by the Annual General Meeting of Shareholders and the BOD. The BOM carried out its responsibilities with a high sense of accountability, managed operations with agility, and provided close guidance to all business units. It also proactively submitted timely proposals and solutions to the BOD, ensuring that every unit within the system operated in a fully monitored, controlled, safe, efficient, and legally compliant manner.
To achieve the long-term strategic goals, the BOD has selected leading global partners and strategic consulting firms to accompany SHB in planning, supervising, and organizing the implementation of the bank’s development strategy.
3. Plans and orientations of the Board of Directors
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Centering all operations around customers and market dynamics, firmly upholding the commitment to sustainable growth in alignment with the country’s development journey.
Focusing on optimizing the business model with the ultimate goal of delivering the best value to customers. From product design to service delivery and customer engagement models, every aspect is being streamlined and tailored to the customer journey - differentiated by region, ecosystem, and industry sector.
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Accelerating digital transformation in business operations and governance
Building on a modern digital foundation encompassing digital governance, digital human resources, and advanced infrastructure, SHB will continue to accelerate its comprehensive digital transformation. By leveraging cutting-edge digital technologies throughout banking operations, SHB aims to deliver highly personalized financial solutions and value-added service packages, thus deepening customer engagement and enhancing business performance.
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Placing “people at the core” – fostering a professional and modern work environment
The BOD recognizes that people are the strategic pillar determining SHB’s competitive edge and sustainable development. Therefore, SHB continuously refines and enhances its human resource strategies and policies, while cultivating a fair, transparent, innovative, and inspiring workplace culture. This ensures employees are motivated to grow and contribute effectively.
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Enhancing executive management capabilities and streamlining the organizational structure to be lean, strong, efficient, and effective with clear delegation and decentralization, empowering all levels.
Continue refining the governance framework in line with international standards,optimizing the executive management system to suit the business strategy, market dynamics, and customer needs.
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Continue to strengthen risk management capacity and monitor compliance with advanced standards
Continue focusing on promoting and improving risk management capacity according to modern, effective, and sustainable international standards
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Anticipating future trends and pioneering scientific and digital solutions for breakthrough
In all investment and development activities, SHB is committed to both meeting present demands and proactively preparing for future opportunities.
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Continuing to contribute to national prosperity, social welfare, and support for the poor and vulnerable
Throughout its development journey, SHB has consistently played a pivotal role in fostering economic growth, creating value, and spreading positive impact. Every business activity is conducted with a balanced approach, aligning the interests of the Bank, customers, and the community.
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