Sacombank marks 33 years of supporting communities and businesses

On 20/12/2024, Sacombank celebrated its 33rd anniversary (21/12/1991 – 21/12/2024), honoring its achievements and setting strategic goals for the future.

Mr. Duong Cong Minh, Chairman of Sacombank's Board of Directors, delivered the opening speech.

Accelerating strongly in Q4/2024, expected to surpass Shareholders’ Meeting targets

Sacombank's pre-tax profit for Q4/2024 is estimated to exceed VND 4,600 billion, marking a 68% increase compared to the same period last year. For the full year 2024, pre-tax profit is projected to surpass VND 12,700 billion, the highest level ever recorded and exceeding the targets set by the Shareholders' Meeting. Profitability indicators are also impressive, with ROA estimated at 1.46% and ROE at 20.23%, both higher than the previous year and continuing to rank among the leaders in the banking sector.

As of  31/12/2024, Sacombank's total assets are estimated to reach over USD 29 billion, representing a 7% growth compared to 2023. Capital mobilization and credit balance are estimated at VND 649 trillion and VND 542 trillion, respectively, both increasing by 12% year-on-year.

In 2024, Sacombank’s digital banking channel experienced robust growth, with the number of new customers and transactions estimated to rise by 6.9% and 34.8%, respectively, compared to the previous year. This has helped Sacombank expand its customer base to 20 million, enhancing the customer experience with a satisfaction rate exceeding 90%.

Sacombank leaders and guests raised glasses to celebrate the bank's 33 years of growth, looking toward a strong and resilient future.

Managing Risks Effectively and Safely

Amid the common economic challenges, the non-performing loan (NPL) ratio in the banking sector has shown an upward trend over the past year. However, Sacombank has effectively controlled this issue while improving asset quality, with the proportion of profitable assets estimated to increase by 95%. In 2024, Sacombank continues to focus on recovering and resolving nearly VND 10 trillion in bad debts and non-performing assets, contributing to stronger asset quality.

Sacombank has also completed its project to prepare financial reports under IFRS 9 standards and continued to apply Basel III successfully, enhancing transparency and integrity in its operations and risk management according to international practices. Key safety indicators have been consistently met and improved, with the CAR ratio approaching 10%, balancing operational safety and efficient capital utilization.

In 2024, global credit rating agencies Moody’s and Fitch Ratings, two of the most reputable organizations, assigned Sacombank a stable outlook based on its strong business performance, robust asset quality, excellent profitability, and consistently improving risk management during the restructuring process.

Partnering for growth and community support

Beyond dynamic business activities, Sacombank has actively contributed to spreading happiness within the community, aligning with our long-standing strategy of sustainable development tied to social responsibility.

Sacombank reaffirmed its commitment to supporting both individuals and businesses throughout its journey of 33 years of development alongside the nation.

For example, after typhoon Yagi, Sacombank supported thousands of affected customers through policies such as: Reducing interest rates on existing loans by up to 2% per year; providing VND 10 trillion in new loans at preferential rates of 4%-5%; offering up to 50% reduction in service fees and waiving early repayment fees for all loans. Branches and transaction offices in affected areas proactively reviewed, shared, and collaborated with customers to find solutions for restoring production, business activities, and stabilizing lives.

In 2024, Sacombank implemented various meaningful community programs: Over 18,000 employees voluntarily contributed at least one day’s salary, collectively donating over VND 12.7 billion to support those impacted by the Yagi; awarded 4,000 scholarships worth more than VND 11 billion to underprivileged yet diligent students nationwide; allocated over VND 10 billion for Tet 2025 support programs to assist disadvantaged communities.

Sacombank also participated in the government-initiated campaign "Eliminating temporary and dilapidated houses", collaborating with provinces such as Bac Lieu, Bac Ninh, Thai Nguyen, Khanh Hoa, and Lam Dong to construct thousands of homes for impoverished households and policy families in need.

In partnership with various agencies, Sacombank funded the construction of schools, cultural houses, roads, public restrooms, and facilities providing electricity, street lighting, clean water, and wells for underprivileged areas. Other initiatives included: Sponsoring free cataract surgeries to restore vision for hundreds of patients; providing nutritional gifts and financial support for pediatric cancer patients in HCMC; with a budget exceeding VND 100 billion, Sacombank has undertaken numerous large and small-scale charitable programs and activities, solidifying its commitment to community welfare.

“For the past 33 years, Sacombank has placed social initiatives on par with business plans, aiming for comprehensive contributions to not only the prosperity of the economy but also the sustainability of society. Moving forward, the Bank will continue leveraging its technological and human resource strengths to realize sustainable development goals closely tied to community responsibility.”