HÀ NỘI — Saigon-Hanoi Commercial Joint Stock Bank (SHB) reported estimated pre-tax profit of VNĐ14.3 trillion (US$551 million) in the first nine months of 2026, up 17 per cent year-on-year.
Speaking at an investor conference held last week in Hà Nội, the bank also said it has completed an additional issuance of 750 million shares that raised its charter capital to more than VNĐ53.4 trillion ($2.1 billion).
The results represented about 81 per cent of SHB’s full-year profit target, while total assets reached an estimated VNĐ993.5 trillion at the end of September, up 11.4 per cent from the end of 2025 and approaching the VNĐ1 quadrillion mark.
The event brought together representatives of investment funds, securities companies, financial institutions and market analysts to discuss SHB’s financial position, business targets and long-term development strategy.
SHB said it would prioritise selective credit growth, deepen relationships with existing customers and expand revenue from payments, cash management, guarantees and trade finance.
A key growth driver is its ecosystem-based corporate banking model, which extends services beyond corporate clients to their suppliers, related businesses and employees. The “wholesale retail” approach enables the bank to expand lending, deposits and fee-based services while increasing cross-selling opportunities and reducing customer acquisition costs.
Over the longer term, SHB aims to integrate corporate banking, retail banking and digital banking through data and technology, improving productivity, customer service and operational efficiency.
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| SHB’s leaders answered questions from investors. |
Capital increase and international funding
Having completed the additional issuance of 750 million shares, SHB is carrying out procedures to update its establishment and operating licence to reflect its new charter capital of VNĐ53.4 trillion. It is also completing the necessary procedures to bring the newly issued shares into trading.
The bank is continuing to work with regulators and provide updates on the process and expected trading date in accordance with regulations.
Regarding the transfer of the remaining 50 per cent stake in SHBFinance, now known as SFinance, to Thailand’s Krungsri, part of Japan’s MUFG Financial Group, SHB said it had received full payment and expected to recognise the resulting profit in the fourth quarter.
The proceeds will provide additional resources for the bank to focus on its core banking business, invest in technology and develop strategic business areas. The impact on earnings and equity will depend on the transaction value, the carrying value of the investment and the timing of accounting recognition.
SHB is also diversifying its international funding sources. On October 12, it announced a loan agreement coordinated by Sumitomo Mitsui Banking Corporation (SMBC), with an initial amount of $340 million and the potential to increase subject to the agreement’s terms.
The three-year facility, running from the first drawdown, will support lending activities and finance eligible projects under the agreement. The mandated lead arrangers and bookrunners include SMBC, State Bank of India, CTBC Bank, Maybank Securities, Abu Dhabi Commercial Bank and MUFG Bank.
The transaction follows two medium-term syndicated loans aligned with environmental, social and governance (ESG) criteria that SHB successfully raised in 2025, totalling $600 million and involving 26 international financial institutions.
In the bond market, S&P Global Ratings assigned an ‘AA’ long-term issue rating to Singapore dollar-denominated bonds issued by SHB and guaranteed by the Credit Guarantee and Investment Facility (CGIF), a trust fund of the Asian Development Bank.
SHB has received approval from the State Securities Commission for its registration dossier for an international bond offering, while the Singapore Exchange has approved the bonds for listing. The bonds have since officially begun trading on the Singapore securities market.
SHB’s total assets stood at an estimated VNĐ993.5 trillion as of September 30, up 11.4 per cent from the end of 2025.
Market I deposits reached approximately VNĐ720.8 trillion, an increase of 12.2 per cent, while outstanding credit totalled around VNĐ678.5 trillion, up 9.5 per cent.
Operating income for the first nine months was estimated at VNĐ26.3 trillion, up 16 per cent year-on-year. Non-interest income accounted for nearly 30 per cent of the total, highlighting the contribution of revenue sources beyond lending.
The bank also maintained positive efficiency indicators, with an estimated return on equity (ROE) of 25.9 per cent and a cost-to-income ratio (CIR) of approximately 19.2 per cent.
These results provide a basis for SHB to pursue its business targets in the final months of the year while balancing growth with capital efficiency and asset quality.
Asset quality, credit concentration and risk absorption capacity were among the key issues discussed at the conference. SHB said it would continue reviewing its loan portfolio, strengthening provisions and monitoring customer cash flows as it expands its business.
Alongside risk management, the bank plans to allocate nearly VNĐ6 trillion to technology and digitalisation during 2026-30. Its priorities include automating processes, strengthening data analytics and improving customer experience to raise productivity and make better use of its customer ecosystem.
Sustainable finance is also part of the bank’s approach to raising and allocating capital. SHB’s Sustainable Finance Framework has received an independent assessment from S&P Global Ratings confirming its alignment with six sets of international principles and guidelines covering green, blue and social finance.
The framework sets out criteria for project selection, fund management and reporting on allocations and impacts.
It is intended to help channel international capital towards clean energy, water resources, marine ecosystems, small- and medium-sized enterprises and essential services.
Through the investor conference, SHB said it aimed to strengthen dialogue with the investment community and provide a clearer basis for assessing its performance and outlook.
Building on its existing scale, the bank is focusing on improving efficiency, strengthening its financial capacity and governance, and advancing its ambition to become a ‘new-generation bank of national stature’. — VNS
