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SHB’s Q1 profit reached VND3,227 billion, up 94% over the same period

With this profit, SHB entered the top 5 most profitable private commercial banks in the first quarter.

Accordingly, SHB’s total assets at the end of the first quarter of 2022 reached VND515,553 billion, up 1.8% year-to-date. Market capital mobilization reached VND388,116 billion in the first quarter, up 2.6%. The balance reached VND388,196 billion, up 5.3%. Profit before tax reached VND3,227 billion, up 94% from the same period in 2021.

SHB’s fundamental financial metrics all increased over the same period, taking SHB’s total net interest income to VND4,223 billion in the first quarter of 2022, up 90% over the same period, with profit from service activities increasing compared to the same period last year 24% increase year.

SHB's Q1 profit reached VND3,227 billion, up 94% over the same period - Jan

SHB’s goal of achieving minimum total profit of VND11,686 billion in 2022 is fully satisfactory. At the end of the first quarter, SHB’s overall business results and business objectives are very strong.

In 2021, SHB saw remarkable business growth, as the bank’s profit reached VND 6,260 billion, up 91% over the same period, and total assets reached VND 506.6 trillion, up 23% over the same period corresponds to the same period of the previous year. with the end of 2020.

Equity under Basel II standards reached VND 53,114 billion, the initial capital reached VND 26,674 billion, completing the planned capital increase plan. Market 1 capital mobilization reached VND379 trillion, up 12%; The balance reached VND369 trillion, up 16% from 2020.

In particular, SHB has tightly controlled operating expenses, reducing its operating expenses to total net income (CIR) ratio to 24.22%, making it the best cost-controlled public bank; Debt collection and provision for early settlement of all VAMC and Vinashin bonds.

SHB also successfully organized the 30th Annual General Meeting, term of office 2022 – 2027, elected Management Board and Supervisory Board members for the new term of office; elects and assigns the titles of the Management Board and the Supervisory Board.

SHB's Q1 profit reached VND3,227 billion, up 94% over the same period - Feb

Mr. Do Quang Hien, Chairman of the Board of Directors, was confirmed by the Board of Directors for the new term and elected Chairman of the Board of Directors for the 2022-2027 term.

In 2022, SHB is targeting total assets growth of over 12% and charter capital growth of 37% compared to 2021; pre-tax profit is expected to be at least Dong 11.686 billion, up 87%; Expected dividend in 2022 from 18%.

SHB will continue to work with the world’s leading strategic consulting groups BCG, IFC, IBM… to provide comprehensive solutions to improve business efficiency through business model innovation, engineering and development. to develop customer and market-oriented products and services of modern digital banking.

2022 is also the year that SHB drastically implements 4 strategic pillars of the bank, including: Institutional and Mechanism Reform; Consolidation of the organizational and personnel apparatus; customer-oriented; Information technology platform and digital transformation.

In addition to striving to successfully achieve the business goals and business goals set by the AGM, SHB will focus on using all resources for development and increasing the maximum benefit for shareholders. Shareholders and customers with the aim of making SHB an efficient bank on the market.

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