UK magazine names Sacombank Best Forex Bank in Vietnam for 3rd straight year


Sacombank has been named “Best Forex Bank in Viet Nam” in 2023 by the UK’s Global Banking & Finance Review. This is the third year in a row that Sacombank is winning this award by meeting all criteria in terms of market share, transaction volumes, product diversity, network, liquidity, hedging solutions, competitive pricing, and sales professionalism.

Sacombank’s strengths include abundant foreign currency liquidity, multi-currency payment capability along with an extensive transaction network in Viet Nam, Laos, Cambodia and a modern, safe and secure technology platform. It thus meets all customers’ trading needs in spot, forward, swap, and options transactions in a timely manner and at competitive rates and with flexibility and simple procedures. In 2022, Sacombank satisfied the monetary needs of more than 200,000 small and medium enterprises across the country with total foreign currency trades worth more than US$18 billion and outstanding incentives.

Sacombank has consistently invested in technology, especially online banking solutions, to enhance the customer experience, especially in forex transactions. Typically, the online FX program, which is integrated with its Internet Banking and Mobile Banking systems, features online price fixing with the exchange rate updated in real time. The Bank also supports customers with negotiated exchange rates and notifies them when the exchange rate reaches a desired level. This is one of the useful solutions for import-export payments while Vietnam's import and export turnover is in a positive growth trend.

Thanks to these comprehensive and effective strategies, Sacombank's forex business has grown consistently and strongly over the years, making it one of the leading banks in Vietnam in this segment in terms of transaction volumes and profits.