SHB to increase its charter capital

August 15, 2022 | 13:33

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Saigon-Hanoi Commercial Joint Stock Bank (SHB) has received approval from the State Bank of Vietnam to increase its charter capital to $1.16 billion.

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This confirms that SHB has completely fulfilled its commitment to shareholders and investors on improving financial capacity in accordance with the plan to increase charter capital in 2021 – as approved by the annual general shareholders' meeting (AGM) – and lays the groundwork for the implementation of the next capital increase plan.

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In addition, SHB also aims to further enhance its charter capital to $1.59 billion by the end of 2022 under a decision made at its AGM. The hike will likely place it among the three largest private joint stock banks by charter capital.

The bank’s reputation among domestic and foreign investors and international credit rating agencies has been solidified and improved in large due to the firm's consistent efforts to strengthen its operations over the last several years.

SHB continues to grow its operating size and business development, accelerate financial digitalisation, and work toward its goal of becoming the most technologically advanced and resource-efficient bank. This is made possible thanks to the bank’s robust financial capacity.

By Tri Lam

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