SHB Shareholders' Meeting: Dividend payment of 18%, Chairman of the Board of Directors wishes shareholders "good luck with your investments"

Profit target increase 25%, dividend 18%

SHB's annual general meeting of shareholders this afternoon (April 22) was crowded with shareholders attending (nearly 1,600 shareholders and authorized representatives attended in person), each shareholder attending was given 200,000 VND by the bank.

In his opening speech, SHB Chairman Do Quang Hien wished shareholders "successful investments". The SHB Chairman's wishes took place in the context of SHB shares being the focus of the stock market recently. Since April 10, SHB shares have increased by 20.5% and are one of the stocks with the highest liquidity in the market.

Nearly 1,600 shareholders and authorized representatives attended SHB's General Meeting of Shareholders this afternoon (April 22).

The Board of Directors' report said that in 2025, SHB aims to have total assets exceeding VND832,000 billion, with total outstanding credit growth of 16%. The bad debt ratio is strictly controlled below 2%. Pre-tax profit is targeted at VND14,500 billion, an increase of 25% compared to 2024. At the end of the first quarter of 2025, SHB's pre-tax profit reached nearly VND4,400 billion, reaching 30% of the 2025 plan.

To implement the above plan, SHB will deploy 6 groups of solutions, including: governance; promoting green finance, sustainable development; customer development; risk management mechanisms and policies; organizational structure, human resources and digital transformation.

In 2024, SHB recorded a profit after tax of more than VND 9,132 billion for the bank alone. After setting aside funds, the remaining profit was VND 7,306 billion.

The bank plans to pay a dividend of 18% in 2024, of which 5% will be in cash and 13% in shares. If the plan to pay a dividend in shares at a rate of 13% is completed, SHB's charter capital is expected to increase to nearly VND45,942 billion, an increase of VND5,285 billion. The above plan is expected to be completed in 2025. The bank also plans to pay an 18% dividend for 2025. In recent years, SHB has always paid dividends regularly with a payout ratio of 10-18%.

The additional capital will be used to supplement SHB's business capital based on the principle of safety and efficiency. Specifically, the bank plans to use VND3,200 billion for lending for production and business, project implementation; VND1,785 billion for lending to supplement working capital, finance fixed assets; and VND300 billion for consumer loans.

Continue divestment and capital sale deals

Presenting the Board of Directors' report, Vice Chairman Do Quang Vinh added some contents that were approved in the previous General Meeting of Shareholders' Resolutions and will continue to be implemented in 2025.

Accordingly, regarding the early divestment of the remaining 50% of SHB's capital at Saigon - Hanoi Commercial Joint Stock Bank Finance Company Limited (SHBFC) as proposed by Krungsri, the Board of Directors of SHB has issued a Resolution of approval (Resolution No. 27/2024/NQ-HDQT dated November 4, 2024). Currently, SHBFC is carrying out procedures to submit documents to the State Bank regarding the conversion of legal form in accordance with legal regulations.

Regarding the transfer of SHB's capital at Saigon - Hanoi Lao Bank Limited (SHB Lao): SHB and the Investor have signed an agreement to transfer all of SHB's capital contributions at SHB Lao. SHB and its partner have submitted the application to the Central Bank of Laos, and have now been approved in principle by the Central Bank of Laos. SHB and the investor are continuing to carry out the transfer procedures in accordance with Lao law and Vietnamese law. The Board of Directors submits to the General Meeting of Shareholders to authorize the Board of Directors to proactively decide on related matters to complete the transfer of SHB's capital at SHB Lao.

Regarding the transfer of SHB's capital at Saigon - Hanoi Bank Cambodia Limited (SHB Cambodia): SHB is selecting a suitable partner to transfer capital to convert the operating model of SHB Cambodia.

Regarding the private issuance to foreign investors and foreign strategic investors, SHB said it is working with groups of foreign investors expressing interest in investment opportunities in SHB and will continue to implement the Resolution of the previous General Meeting of Shareholders.

At the General Meeting this afternoon, the bank also plans to elect an additional member to the Board of Directors (BOD) for the 2022-2027 term, in order to effectively implement the bank's comprehensive transformation strategy for the 2024-2028 period.

On April 1, 2025, SHB announced that it had received a nomination notice from a group of shareholders with the right to nominate and elect Mr. Phan Dang Tuat as an independent member of SHB's Board of Directors for the 2022-2027 term.

According to the audited financial report for 2024, SHB Bank's Board of Directors has 6 members (excluding Mr. Do Duc Hai and Mr. Haroon Anwar Sheikh due to dismissal from April 25, 2024), of which Mr. Do Quang Hien is the Chairman of the Board of Directors of the bank with Vice Chairman Do Quang Vinh and three members of the Board of Directors, one independent member.

Source: https://baodautu.vn/dhdcd-shb-chia-co-tuc-18-chu-tich-hdqt-chuc-co-dong-dau-tu-dau-trung-day-d271682.html