SHB Nears Completion of SHBFinance Sale to Krungsri, Expects Large Capital Surplus

Overview

SHB (Saigon-Hanoi Commercial Joint Stock Bank) is on the verge of completing the sale of its remaining 50% stake in SHBFinance to Krungsri, a major Thai financial group and member of Japan’s MUFG. The transaction, expected to close in mid-Q3, will generate a significant capital surplus for SHB, enhancing its financial strength and supporting its strategic growth initiatives.

Key Facts

• The State Bank of Vietnam has approved the legal conversion of SHBFinance from a limited liability company with two members to a single-member LLC, a prerequisite for the stake transfer.
• SHB will transfer the remaining 50% of SHBFinance’s charter capital to Krungsri, completing the full divestiture of its consumer finance subsidiary.
• The deal is expected to close in mid-Q3 2026.
• The original agreement in August 2021 stipulated a 3-year timeline for the second tranche, but SHB accelerated the process at Krungsri’s request in late 2025.
• SHB completed the first 50% transfer in May 2023.
• SHB recently raised its charter capital to VND 53,442 billion through the issuance of over 750 million shares, placing it among the top four private commercial banks by charter capital in Vietnam.
• SHB has over 160,000 shareholders and its stock is a constituent of the VN30 index.

What Happened

SHB is finalizing the legal and procedural steps to transfer the remaining 50% stake in SHBFinance to Krungsri. The State Bank of Vietnam’s approval of SHBFinance’s legal conversion from a multi-member to a single-member LLC paves the way for the transaction’s completion. The deal, originally structured in two tranches, saw the first 50% transferred in May 2023. The second tranche was initially scheduled for three years later but was accelerated at Krungsri’s request.

Mr. Do Quang Vinh, Vice Chairman of the Board and Deputy CEO of SHB, stated that the full divestiture will bring a substantial capital surplus to SHB’s shareholders and enhance the bank’s financial capacity and competitive position. He emphasized that SHB will continue to cooperate with the partner to develop retail business using modern technology, while focusing resources on core business areas and digital transformation.

Market Context

SHB shares closed at VND 12,650 on July 18, 2026. The bank is listed on HOSE and is a component of the VN30 index, indicating strong liquidity and institutional interest. The completion of the SHBFinance sale comes at a time when SHB has aggressively expanded its charter capital, positioning itself among the largest private banks in Vietnam. The capital surplus from the deal is expected to further strengthen SHB’s balance sheet and support its growth strategy amid a competitive banking sector.

Strategic Significance

The divestiture of SHBFinance allows SHB to exit the consumer finance segment and concentrate on its core banking operations, including digital transformation and international expansion. The capital surplus will provide additional resources for investment in technology, branch network expansion, and potential M&A. The partnership with Krungsri, backed by MUFG, also opens avenues for collaboration in retail banking and technology, enhancing SHB’s competitive edge. The transaction underscores SHB’s commitment to improving financial efficiency and shareholder value.

What to Watch

• Official announcement of the transaction closing and the exact amount of capital surplus recognized.
• SHB’s Q3 2026 financial results to assess the impact of the surplus on capital adequacy ratios and profitability.
• Any new strategic partnerships or investments announced by SHB following the deal.
• Updates on SHB’s digital transformation milestones and international expansion plans.
• Regulatory filings regarding the use of proceeds from the sale.