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From 25th January 2010, Sacombank officially connected to two alliances Banknetvn & Smartlink.
In 2009, Vietnam had to counter many challenges and difficulties because of the global financial crisis and economic downturn, but thanks to the flexible and suitable policies, Vietnam has reached the twin growth in terms of GDP and inflation. Especially, the banking sector has overcome the crisis with good performance, according to domestic and foreign specialists.
As at 30 November 2009, Saigon Thuong Tin Commercial Joint-Stock Bank (Sacombank) exceeded its annual pre-tax profit target at VND 1,658 billion by 4%, after deducting credit provisions and financial reserves in 11 months.
Hanoi, 13 November 2009: Proparco - the subsidiary of the French Development Agency (Agence Française de Développement - AFD) and Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) have signed a credit facility agreement of USD20 million to reinforce the medium and long term lending capacity of Sacombank, to support its small and medium enterprises (SME) lending activity.
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