Global Finance names Sacombank Vietnam’s No1
The US’ Global Finance magazine has selected Ho Chi Minh City-based Sacombank as its best bank in Vietnam for 2014.
The magazine is set to present the award to the Vietnamese lender at a ceremony in Washington DC this October.
As to why Sacombank took the lead in Vietnam, the magazine said the lender had outperformed its rivals by focusing on retail customers as well as large corporate clients. It added that the bank has derived much of its income from fee-based services and long-term investments.
As a result, net profit more than doubled last year to VND2.2 trillion ($104 million). In March, Sacombank announced its merger with smaller local counterpart Southern Bank.
What the stars mean:
★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional
Latest News
More News
- ABeam Consulting Vietnam introduces BSQCD Purchasing Strategy Framework (November 21, 2024 | 16:40)
- Major railway requires debt considerations (November 21, 2024 | 12:07)
- Reviving a new life cycle for plastic waste (November 21, 2024 | 09:16)
- Key balances maintained for industrial production (November 21, 2024 | 08:00)
- Ecolean Vietnam honoured with prestigious sustainability award (November 19, 2024 | 10:01)
- HEINEKEN Vietnam’s clear path towards net-zero (November 18, 2024 | 15:13)
- VLCA 2024 honours corporate governance excellence as listed companies raise the bar (November 18, 2024 | 09:00)
- High-tech personnel to drive competition (November 17, 2024 | 09:21)
- Rising use of Generative AI Apps boosts consumer interest in differentiated connectivity (November 16, 2024 | 09:41)
- Google supports shape of Vietnam’s AI future (November 15, 2024 | 19:49)
Mobile Version