Customers conduct transaction at Sacombank. — Photo courtesy of the bank

Sacombank has set aside VNĐ10 trillion (US$401.2 million) to provide loans to individual and corporate customers at a “super” preferential interest rate of only 3 per cent a year from March 21 to 31.

The rate applies to three-month loans disbursed during the programme period.

The bank said the lending package is one of its practical measures to facilitate individuals and businesses’ access to preferential capital for their living and business needs.

Previously, in line with the Government and the State Bank of Vietnam’s efforts to boost economic recovery, Sacombank increased the funding it had earmarked for lending to businesses to VNĐ40 trillion at interest rates starting from 3 per cent a year and rolled out a preferential package worth VNĐ10 trillion for retail customers for fulfilling their living needs, with interest rates starting at 6.5 per cent.

Sacombank has also rolled out credit packages for individual and organisational customers in HCM City who need capital for business from now until December 31, 2024.

This year, Sacombank is among 15 banks in Việt Nam ranked in the list of the world’s 500 most valuable banking brands (Banking 500) by Brand Finance, the world's leading brand valuation consultancy.

This marks Sacombank's fifth consecutive year on the list, with an improvement in ranking from 422 in 2020 to 322 this year. It also secures the ninth position among the 15 Vietnamese companies listed.

At a ceremony held recently by Vietnam Report and VietNamNet e-newspaper to announce the list of 500 largest enterprises in Việt Nam in 2023 (VNR 500), Sacombank was honoured among the Top 50 Best Enterprises in Việt Nam. It was for a 12th year in a row that Sacombank won this award.

As of the end of 2023, Sacombank's total assets were worth more than VNĐ674 trillion, an increase of 13.9 per cent since the beginning of the year. Its deposits topped VNĐ578 trillion, up 11.3 per cent from a year earlier.

Its capital adequacy ratio was 9.1 per cent, and loans-to-deposits and net interest margin ratio were 82.8 per cent and 3.9 per cent, respectively.

ROA and ROE were 1.2 per cent and 18.3 per cent, increases of 0.3 per cent and 4.5 per cent.

Sacombank has more than 18 million customers.

EY Vietnam Consulting JSC recently awarded a certificate to Sacombank for fully adopting Basel III risk management standards, a set of high-level standards for banking risk management.

Sacombank also pays great attention to sustainable development goals. — VNS