Sacombank diversify the network


Sacombank has rearranged its transaction points and standardized its operations to affirm the position as one of the leading retail banks in Vietnam.

Keep expanding
Since its inception, Sacombank has the ambition to make the products and services accessible to every citizen in every area of our country. Therefore, in the first 20 years since inception, network development is one of the key solutions in Sacombank's strategy. By the year 2012, a network of 430 transaction points is the outstanding advantage of Sacombank in the group of commercial joint stock banks, covering the provinces in the South East, South West, North Central, South Central and Central Highlands, and pioneered the expansion of operations out of the Vietnam border with branches in Laos and Cambodia (upgraded to the Bank of Vietnam in 2011 and 2015). This strategy shows the vision of Sacombank when Circular 21 of the National Bank is issued in 2013 limited the opening of more branches and transaction offices of commercial banks.

Another success has raised the scale of Sacombank's operations after the successful merger on October 1, 2015 with 563 transaction points, ranking 5th in the banking system in Vietnam, after only 4 banks state-owned. Sacombank's network has reached 566 transaction points, of which 552 are in 48/63 provinces of Vietnam and 14 in Laos and Cambodia, and continue to maintain the leading positions in the Private Banking Group.

Quality enhancement
In addition to expanding in number, Sacombank also focuses on enhancing the efficiency of the network. Over the past two years, the Bank has redeployed 181 transaction points, upgrading all Savings Accounts to the Transaction Point model, transferring management of overlapped locations, rename, relocate transaction points located unsuitable to the more potential. The areas in which Sacombank aiming are suburban and remote areas in order to contribute to the development of agriculture and rural areas. Transaction points were stable, positive growth and significant market share in local areas. 

Especially, according to the restructuring plan approved by the National Bank, Sacombank will open 14 branches in the North on the basis of converting licenses of existing branches and establishing 14 transaction points on the basis of branches. Licensed to continue serving customers in the area. Therefore, Sacombank will be present in Ninh Binh, Thai Binh, Nam Dinh, Vinh Phuc, Hoa Binh, Bac Giang, Ha Giang and Bac Kan provinces in the coming time. This is the development of Sacombank's network while almost banks are restricted in opening branches as the Circular 21 now. After completing the opening of these 14 branches, Sacombank will cover the network at 62/63 provinces and cities of Vietnam.

Sacombank has also invested in building and purchasing branch offices and transaction points with modern facilities, which are conveniently located in popular locations. This is the commitment of the Bank to the development of economy in the area.


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