SHB Finance announces changes in management team

During his three years as CEO, Dinh Quang Huy has lead SHB Finance to reach several notable achievements

Saigon-Hanoi Commercial Joint Stock Bank (SHB), the owner of SHB Finance, will appoint a new Board member and CEO in due time.

Talking with VIR about the move, Dinh Quang Huy was quite satisfied with what SHB Finance has achieved in his three years at the helm, with the support of the management team and nearly 4,000 employees.

The move after almost six years of growing the consumer finance business is part of his professional drive. Before joining SHB Finance, Huy had more than two years as CEO of MB Shinsei Finance Company (Mcredit), from the set-up phase to full scale operation.

During his three-year in the office, SHB Finance has been progressing with notable achievements such as becoming the first finance company rated by Moody's at a B3 Stable outlook right in its first year of operation; mobilising a considerable amount of unsecured funds from institutional investors, including the prestigious ResponsAbility Investment Fund from Switzerland with strict standards; as well as signing a partnership agreement with Mastercard to issue international credit cards.

By the end of 2020, the network of SHB Finance has covered 40 key provinces and cities, serving nearly 700,000 customers. Pre-tax profit was VND70 billion ($3.04 million), with balance at the end of the period being VND3.689 trillion ($160.3 million), with bad debts under tight control and stable business results.

SHB Finance provides quick and convenient consumer loans for people with low and middle income

Throughout a challenging 2020, SHB Finance has proven its capacity and position when recognised by reputable rating agencies and institutional investors. With a broad range of consumer finance loans for low- to medium-income customers, SHB Finance is regarded as a trusted service provider of basic financial needs for Vietnamese customers.