Do Quang Hien, chairman of SHB

Last year, international and domestic financial and securities markets experienced a bumpy road, resulting in a negative impact on the overall valuation of listed companies, particularly banks.

Do Quang Hien, chairman of SHB's Board of Directors, revealed that the bank is presently engaged in negotiations with several international partners. He indicated that SHB's strategy for attracting strategic foreign investors is to seek long-term partners who are willing to get involved in strategic management and share technology and other resources.

However, as most foreign investors tend to limit their involvement to strictly financial investment, SHB must alter its strategy to pursue the right kind of capital from major overseas institutions.

"SHB is currently attracting a lot of interest from foreign suitors. However, being selected as an appropriate investor requires strong financial capability and a willingness to engage in long-term investment. The Board of Directors is approaching some investors with a 3-5-year strategy," said Hien, "By the end of this year or early next year, SHB expects to have an eligible partner."

In late 2021, SHB entered a strategic agreement to sell its consumer finance arm, SHB Finance, to Ayudhya Bank (Krungsri) of Thailand, a member of Mitsubishi UFJ Financial Group (MUFG) from Japan.

As a result, SHB transferred half of SHB Finance's charter capital to Krungsri. The remaining half will be transferred to the Thai bank after three years.