Sacombank achieved all the targets it listed at its annual general meeting last year despite many difficulties last year due to the Covid-19 pandemic. — Photo courtesy of Sacombank HCM CITY — Despite many difficulties last year due to the Covid-19 pandemic, Sacombank achieved all the targets it listed at its annual general meeting last year, ensured restructuring was on track and created a solid foundation to accelerate its digital transformation. Its consolidated assets increased by 10 per cent to nearly VNĐ493 trillion (US$21.3 billion), with profitable assets increasing by 13 per cent. It has total deposits of VNĐ447 trillion ($19.3 billion) and outstanding loans worth VNĐ340 trillion, an increase of 15 per cent from the previous year and in line with the quota set by the State Bank of Vietnam. It managed to collect over VNĐ15 trillion ($648.1 million) worth of bad debts, reducing the mortgaged assets at the bank by 16.7 per cent from the preceding year and non-performing loans ratio to 1.6 per cent. Business efficiency improved, with total income increasing by more than 18 per cent, with non-interest income increasing by nearly 13 per cent with major contributions from insurance, cards and e-banking. Consolidated pre-tax… Read full this story
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