Sacombank Shareholders Committee: Targets up to 15% growth, plans first dividend payout in 9 years

Over 1,000 shareholders arrived early to participate in the Meeting

2024 performance highlights

Despite challenges in Vietnam’s financial market, Sacombank successfully met its business targets by aligning closely with the State Bank of Vietnam’s (SBV) monetary policies, accelerating digital transformation, and proactively adapting to evolving production and consumption trends.

Key figures include: Pre-tax profit reached VND 12,720 billion, up 32.6% year-on-year; Credit growth of 11.7%, with total outstanding loans at VND 539,315 billion, accounting for 3.4% of the national total; Total deposits surged 16.7%, exceeding 106% of the annual plan (Deposits from the primary market made up 85.6%; CASA deposits grew by 9.3%, ensuring a stable funding base and competitive capital cost); Return on Assets (ROA) and Return on Equity (ROE) improved to 1.42% and 20.03%, respectively; Non-performing loan (NPL) ratio remained controlled at 2.08%, slightly down from the start of the year; Capital adequacy ratio (CAR) stood at 10.14%, well above the SBV minimum requirement of 8%, reflecting a strong financial buffer.

The presiding panel of Sacombank’s 2024 Annual General Meeting

These achievements are particularly notable given that Sacombank has not increased its charter capital since 2016 - a constraint on its scale and competitiveness. The Bank’s continued strong performance underscores its operational flexibility, efficient resource management, and disciplined risk control.

2025 growth outlook

This year marks a major milestone: for the first time in nine years, since the implementation of the Restructuring Plan, Sacombank plans to pay dividends to shareholders - signaling robust recovery and sustainable growth.

Ms. Nguyen Duc Thach Diem, Permanent Vice Chairwoman of the Board and CEO of Sacombank, presenting key 2024 business highlights

The Bank has resolved an additional VND 76,695 billion in non-performing loans and legacy assets, reducing their share of total assets to just 2.4%. Furthermore, Sacombank has fully resolved VND 21,576 billion in accrued interest under the plan and made 100% provisions for the remaining unresolved legacy debts.

Shareholders actively engaging in discussions during the Meeting

Regarding the proposed share-based dividend payout to raise charter capital, once the State Bank of Vietnam grants approval, the Board of Directors will formulate a detailed implementation plan and seek shareholder endorsement. Accumulated retained earnings currently total VND 25,352 billion. Sacombank confirms its readiness and anticipates formal approval for successful restructuring completion within this year - paving the way for expanded scale and bold strategic advances.

Based on shareholder approval and projected market trends, Sacombank has set ambitious 2025 targets, aiming for 10–15% growth across key indicators:

· Total assets: VND 819,800 billion

· Pre-tax profit: VND 14,650 billion

· Outstanding credit: VND 614,400 billion

· Total deposits: VND 736,300 billion

All operational safety ratios are expected to remain compliant with SBV regulations.

With the guiding philosophy of Transformation – Efficiency – Sustainability, Sacombank will continue driving digitalization, particularly through AI applications to boost productivity and enhance customer experience. The Bank also plans to: optimize operational models; tighten cost control; expand its technology partner ecosystem; launch distinctive products and services to attract and retain a growing customer base.