Saigon - Hanoi Commercial Joint Stock Bank named named “Bank of the Year” 2020 Vietnam (Photo: VNA) Hanoi (VNA) – Saigon- Hanoi Commercial Joint Stock Bank (SHB) has just become the only Vietnameserepresentative to be honoured as “Bank of the Year 2020” by The Bankermagazine.
This is the fourthyear SHB has received this prestigious award.
Along with thepositive growth in ROE (return on equity), net profit, especially theimpressive increase in charter capital and total assets, SHB has shown sustainable development in both scale and business operation.
As part of its efforts to support small- andmedium-sized enterprises (SMEs), in December 2019, the bank parrtnered with Amazon Vietnam to help bring Vietnamese products to the US market.
Thepartnership also proved to be timely, as the emergence of COVID-19pushed many Vietnamese consumers to shop online.
Domestically,SHB also signed an agreement with the Ministry of Planning and Investment’sEnterprise Development Fund to provide low-interest loans for SMEs.
According to TheBanker, supporting the SME segment has always been a key activity, demonstratingthe level of SHB's dedication to the country in recent times, which has largelycontributed to helping it win the “Bank of the Year” award in Vietnam.
In2020, SHB has deployed a credit package of 25 trillion VND (over 1 billion USD)with incentives on lending interest rates, banking service fees, especiallyreducing the minimum lending interest rate by 2 percent a year compared to thenormal interest rate. In addition to interest rate incentive packages, SHBcontinues to implement debt restructuring, debt rescheduling and debtforbearance as well as interest and fee exemptions.
Founded in 1926 and based in London of the UK, The Banker by Financial Times isnow one of the world’s leading journals for economics, finance and commerce.
"Bank of the Year" is an annual award organised by TheBanker to honour the best banks of the year across 120 countries around theworld./.
VNA
