Sacombank proudly marks its 32nd anniversary with a legacy of remarkable achievements


On 21/12/2023, Sacombank celebrated its 32nd Anniversary, reflecting on achievements and outlining future development strategies.

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Sacombank leaders and partners raise a glass to celebrate the bank's powerful 32nd anniversary, looking forward to a strong future together.

Approaching the completion of financial tasks as per the Restructuring Plan

Sacombank, in the context of a slowing global economy, has prioritized stability and sustainability, aligning with market trends. The bank has allocated significant resources to enhance core business areas, consistently improving products and services to diversify revenue sources. By the end of 2023, total assets are projected to reach nearly VND 664,000 billion, with profitable assets constituting 90.3%. Total mobilization is estimated to surpass VND 574 billion, and loans are anticipated to yield a profit ratio exceeding 487%. The consolidated pre-tax ratio for 2023 is estimated to exceed VND 9,500 billion, marking a 50% increase from the previous year and achieving 100% of the plan set by the General Meeting of Shareholders. The bad debt ratio is maintained at 2%.

Implementation of debt recovery and settlement efforts has been decided, with an estimated handling of nearly VND 7,000 billion in bad debt and existing assets. This upgrade is expected to raise the cumulative recovery rate to almost VND 95,000 billion. Operational safety ratios and financial indicators strike a balance between safety and efficiency goals, with the CAR ratio reaching 9.45%, the LDR ratio at 83%, the NIM ratio estimated at 3.88%, and the ROA and ROE indicators estimated at 1.21% and 18.03%, respectively, showing an increase of 0.3% and 4.2%.

In support of its strong internal financial strength, Sacombank has set aside 100% of provisions for the entire portfolio of debt and assets that exist but have not been processed, thus aiding neighbors in fulfilling financial obligations in the Project.

Intensive digitalization with a customer-centric focus

Besides the flexible operating strategy aligned with market developments, the consistent increase in business targets over the years is also a result of Sacombank's continuous development of customer-oriented digital products and services. The bank actively monitors the entire customer experience, addressing customer needs and enhancing areas identified for improvement. As a result, Sacombank distinguishes itself in the market, particularly within the realm of digital products, especially in the payment sector.

Through collaborations with Big Tech such as Apple, Samsung, and international card organizations like VISA, Mastercard, and American Express, the bank has introduced modern payment methods, including card payments, QR code payments, phone payments, and smartwatch payments. Sacombank's comprehensive Open Banking model strengthens connections with fintech, e-commerce companies, and technology partners through connection APIs to develop more types of banking payment methods. 

Sacombank đón tuổi 32 với loạt thành quả ấn tượng -2
Sacombank's 32nd birthday celebration unfolds in a vibrant and welcoming atmosphere.

Currently, Sacombank is a trusted bank for 18 million customers, with nearly 70% of customers transacting via digital channels.

Finalize the implementation of BASEL III strategies and enhance the risk management system

In the last six months of 2023, with the guidance of EY Vietnam, Sacombank conducted a thorough assessment of risk management and developed key aspects of Basel III according to standard methodology. This includes ensuring the capital adequacy ratio (CAR), leverage ratio (LR), liquidity coverage ratio (LCR), net stable funding ratio (NSFR), and applying the internal capital adequacy assessment process (ICAAP) according to Basel III. The bank fully complies with other regulations on information disclosure, major risk management, and behavioral model discussion methods. Sacombank has successfully implemented an automatic calculation and reporting system for CAR, LR, LCR, NSFR, and ICAAP.

Currently, Basel III is a high-level standard in banking risk management, addressing both current conditions and future forecasts. Importantly, risk is measured not only in normal conditions but also in stressful scenarios. The successful development of this set of standards affirms Sacombank's ability to stabilize capital sources, conduct accurate calculations, and possess the necessary capabilities to overcome initial situations.

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On its 32nd birthday, Sacombank receives a certificate from EY Vietnam Consulting Joint Stock Company for successfully implementing risk management standards according to Basel III, marking the bank as the next in Vietnam to adopt this high-level risk management standard.

Accompanying community development and proudly receiving the Second Class Labor Medal

Sacombank not only boasts positive business results, advanced products and services, and high customer satisfaction, but the brand is also synonymous with community engagement and the enhancement of living standards and social security.

Recently, Sacombank was honored with the Second Class Labor Medal by the President of the Socialist Republic of Vietnam for the exceptional efforts in the prevention and control of the COVID-19 epidemic in HCMC. This recognition acknowledges the bank's significant contributions to the socialist cause and homeland protection. It serves as a valuable acknowledgment and a motivating force for Sacombank to persist in its mission of community development.

This spirit of community support has been a consistent theme throughout Sacombank's 32-year history, extending beyond the challenges of the epidemic. In 2023 alone, the bank rolled out several preferential loan packages to inject capital into the market and stimulate production and business. Sacombank also organized extensive volunteer programs, such as the "Nurturing Dreams" scholarship program, awarding nearly 4,000 scholarships valued at nearly VND 11 billion to diligent students. Additionally, initiatives like the "Sacombank - Sharing from the Heart" humanitarian blood donation program contributed over 720 units of blood, and the "Steps for the Community" program raised funds to build cultural houses for ethnic minorities.

These accomplishments not only showcase Sacombank's creative solidarity and commitment to innovation but also reflect the trust and partnership of its customers, partners, and shareholders.

Entering 2024 with the motto "Strong Internal Strength - Strong Future," Sacombank will concentrate on enhancing financial capacity and human resource quality. The bank aims to advance its digital banking activities with a customer-centric approach, intensify risk management practices, and steadfastly build internal strength. This strategic focus positions Sacombank to confidently stride into the future, swiftly completing the restructuring project to reclaim its original standing and prepare for conquering new goals.

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Sacombank proudly receives the Second Class Labor Medal awarded by the President of the Socialist Republic of Vietnam.

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