Sacombank remains among 50 best profitable firms for 6th year

A Sacombank representative receives the trophy and certificate commemorating its place in the Top 50 best profitable companies in Viet Nam in 2022 from Vietnam Report Joint Stock Company and VietnamNet. — Photo courtesy of the bank

Sacombank has been named among the country’s 50 best profitable companies in 2022 for a sixth consecutive year in the annual list compiled by Vietnam Report Joint Stock Company and VietnamNet.

Its pre-tax profit for the first nine months was VND4.44 trillion (US$179.3 million), meeting 84.1 per cent of its full-year plan.

Its improved recovery of bad debts and outstanding assets significantly improved its bottom line.

Its non-interest income also witnessed sharp growth. Income from services increased by 82.3 per cent with the main drivers being insurance and foreign exchange trading.

As a result, non-interest income increased to account for nearly 40 per cent.

Previously, Vietnam Report also named Sacombank among the ‘Top 50 Prestigious and Effective Public Companies in 2022" (VIX50) and ‘Top 10 Prestigious Vietnamese Joint Stock Commercial Banks in 2022.’ — VNS