Fitch Ratings first announced the international credit rating results with Saigon - Hanoi Commercial Joint Stock Bank (SHB). Accordingly, SHB was rated by Fitch as issuing long-term debt in domestic and foreign currency (Long-Term Issuer Default Ratings - IDRs) at "BB-", with a "stable" rating outlook, among the top in the banking industry.
Fitch is one of the three leading credit rating organizations in the world. Being ranked at BB- affirms SHB's reputation and financial capacity in the international market, while reflecting a solid financial foundation and stable profitability.
Fitch also gave SHB's independent credit ratings (Viability Rating - VR) at "b+", and the Government Support Rating (GSR) rating at "BB-". SHB's "b+" independent credit rating from Fitch demonstrates the Bank's financial capacity based on operational efficiency and brand strength that is increasingly consolidated in the market. Fitch noted that SHB's profit-taking ratio on risky assets continues to increase over the years, the capital assurance ratio (CAR) will reach 12% by the end of 2024 with capital continues to remain stable.
Recently, SHB announced its first quarter business results with outstanding figures. Pre-tax profit reached nearly VND 4,400 billion, reaching 30% of the plan for the whole year of 2025. This growth step shows SHB's solid internal capacity and a favorable foundation for breakthrough growth targets. SHB is also in the TOP 15 private enterprises contributing the largest budget.
As of March 31, SHB's total consolidated assets reached VND 790,742 billion, up 6% compared to the end of 2024, outstanding credit reached VND 575,777 billion, up 7.8%, focusing on investment in key manufacturing and business sectors and industries with growth potential associated with the sustainable development orientation of the economy, creating a foundation for stable and effective growth in the long term. Credit quality continues to be controlled within a safe threshold thanks to risk management and debt handling solutions being implemented proactively, drastically and effectively.
The above figures once again affirm SHB's solid financial potential, in addition to Fitch Rating's reviews. SHB representative shared: This is the first time that Fitch Rating - a prestigious international credit rating organization, has been evaluated and rated at BB- with a stable outlook, reflecting SHB's solid financial foundation, strong transformation process, continuously improving financial capacity, risk management, operational efficiency and information transparency. This result once again affirms SHB's position and stature in the financial market, reaching the regional level, responding to the trust of shareholders, investors, partners, and domestic and foreign customers".
2025 is identified by the Bank as a strategic milestone to open the acceleration and comprehensive breakthrough phase in the 5-year strategy. SHB sets a pre-tax profit target of VND 14,500 billion, growth of 25%, total assets of VND 832,000 billion, charter capital of nearly VND 46,000 billion, along with a credit growth plan of 16% and strict control of bad debt ratio below 2%.
The bank also plans to pay a dividend in 2024 at 18%, of which 5% is in cash and 13% is in shares, and expects the 2025 dividend ratio to be 18%, in line with the goal of self-made capital growth and sustainable value increase for shareholders in the medium and long term. Recently, SHB has also completed increasing its charter capital to VND 40,658 billion, firmly in the TOP5 largest private joint stock commercial banks in Vietnam.
Entering the new era, SHB continues to ensure the interests of shareholders, care about the lives of workers, bring prosperity to customers, shareholders, partners, investors, employees and more broadly, the community and society.
