Sacombank marking its 12th consecutive accolade enters Top 50 Excellent enterprises in Vietnam

18/01/2024

On January 18, 2024, Sacombank was once again recognized among the Top 50 Excellent enterprises in Vietnam for the year 2023, marking its 12th consecutive accolade in this prestigious category. The honor was bestowed during the VNR500 Ranking announcement ceremony, which highlights the top 500 largest enterprises in Vietnam. This event was orchestrated by Vietnam Report Joint Stock Company in partnership with Vietnamnet, celebrating the achievements of leading companies within the country.


Mr. Nguyen Tan Cuong, Director of Enterprise Division at Sacombank, receiving the "Top 50 Outstanding Enterprises in Vietnam" award for 2023.

Sacombank's inclusion in this elite group for the 12th year in a row underscores its sustained excellence and resilience in operations, revenue generation, and business performance amidst the volatile economic conditions affecting both domestic and global markets.

The Bank has shown a commendable commitment to innovation and customer service over the past year, introducing a range of multi-utility products and services. These include Apple Pay, the Sacombank Visa UNIQ Platinum integrated card, the Sacombank Platinum American Express card duo, and preferential economic stimulus loan packages. Such initiatives have enhanced the banking experience for its 18 million customers across a network that spans 566 transaction units throughout Vietnam, Laos, and Cambodia.

By the close of 2023, Sacombank's total consolidated assets had surged to over VND 674 trillion, with profitable assets comprising nearly 90% of this figure. The bank achieved more than VND 578 trillion in total deposits and nearly VND 483 trillion in loans, while its consolidated pre-tax profit for 2023 hit VND 9,595 billion, meeting 100% of its yearly target.

In its pursuit of operational excellence and safety, Sacombank, guided by Ernst & Young Vietnam, has successfully implemented the BASEL III standards in the latter half of 2023. This move not only enhances risk management quality but also prepares the bank for future challenges by evaluating risks under both normal and stressful conditions.  The effective adoption of BASEL III standards represents a testament to Sacombank's robust capacity for capital and liquidity stabilization, alongside the essential competencies required to navigate through crisis scenarios, thereby guaranteeing operations that are both safe and efficient.

In addition to its VNR500 ranking, it was also named in the Top 50 Prestigious and Effective Public Companies in 2022 (VIX50), the Top 10 Prestigious Vietnamese Joint Stock Commercial Banks in 2023, and the Top 50 Outstanding Profitable Enterprises in Vietnam, highlighting its stable, sustainable business performance with promising profit growth for 2021 - 2023. Furthermore, accolades such as the "Best Digital Transformation Bank" and "Most Innovative Retail Bank Vietnam 2023" from International Business Magazine acknowledge Sacombank's innovative efforts in digital transformation and operations.

Looking ahead to 2024, Sacombank is set on continuing its trajectory of safe and effective growth, with a focus on technological advancement and the digitalization of its operating platforms and services to further enhance customer experiences and solidify its market position.

The "Top 50 Outstanding Enterprises in Vietnam" award by Vietnam Report is a testament to the enduring excellence and leadership of businesses across the nation, serving not only as a benchmark for success but also as a conduit for bringing Vietnamese brands to the global stage.

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