The Saigon Hanoi Commercial Joint Stock Bank (SHB) is the only representative in Vietnam to receive the Bizz – Business Excellence Award 2018. (Photo: VNA)

Hanoi (VNA) – The Saigon Hanoi Commercial Joint Stock Bank (SHB) has been selected by the World Confederation of Business (Worldcob) as the only representative in Vietnam to receive the Bizz – Business Excellence Award 2018.

The Bizz honours outstanding businesses and entrepreneurs in 120 countries around the world.

To win the award, businesses must meet a number of strict requirements pertaining to leadership, management systems, quality in products and services, innovation and creativity, corporate social responsibility, and results obtained.

The annual award ceremony is held in European, Asian and American cities.

In 2018, Worldcob conducted a survey of Vietnamese enterprises and selected SHB as the only business to be awarded.

SHB General Director Nguyen Van Le said the Bizz award recognised the bank’s efforts over the past years to bring the best products and services to customers, partners and shareholders.

At the same time, it affirms the firm position of SHB in Vietnam’s financial market and reach further in the global arena, he added.

Established in 1993, SHB is one of the five largest private banks in Vietnam.

In the first quarter of 2018, its total assets exceeded 286.9 trillion VND (12.6 billion USD), including more than 12 trillion VND (527.4 million USD) of charter capital and 18.8 trillion VND (826.2 million USD) of equity capital.

The bank mobilised 264 trillion VND (11.6 billion USD) of capital in January-April. 

The loan outstanding balance reached 202.5 trillion VND (8.9 billion USD), a year-on-year rise of 2 percent.

SHB posted a pre-tax profit of more than 500 billion VND (21.9 million USD), up 63.5 percent against the same period last year.

Over the years, SHB has won a number of prestigious domestic and international awards including Home Loan Product of the Year, Auto Loan Product of the Year, and Credit Card Initiative of the Year by the Asian Banking & Finance magazine.

Most recently, SHB has won the Best Bank award in Vietnam 2018 from the US Global Finance magazine. The annual award was evaluated based on the growth of financial indicators such as total assets and profit, quality of products and customer services and technological development.-VNA