According to Fitch, Sacombank’s asset quality has been rated ‘b+’/stable. The bank’s funding and liquidity position is rated ‘bb-‘/stable. The loan portfolio structure has been diversified to support production and business and stimulate consumption, resulting in a ‘b+’/stable risk score. Sacombank’s capital adequacy and profitability are expected to improve significantly in the coming years as the bank completes its restructuring and enhances its core business operations.
Dragon Capital Chairman: “Long-term vision is needed, accepting necessary adjustments for a safer, more efficient, and higher quality market”
According to Mr. Dominic Scriven, Chairman of Dragon Capital, the role of the finance industry in the stock market will be significant in 2023 and possibly in 2024. The roles of other industries, such as real estate or consumer goods, will depend on their respective challenges.
Sacombank maintains steady growth, ready to utilize internal resources to complete restructuring plan.
Sacombank has recently announced its financial results for Q4/2023. The bank has successfully achieved key business targets set by the Shareholders’ Meeting, with a pre-tax profit growth of 9,595 billion VND, a 51% increase compared to 2022, surpassing the year’s initial plans. What’s remarkable is that Sacombank has fully provisioned for the unrecovered VAMC debt, demonstrating its commitment to completing the restructuring plan in a timely manner.