“Sacombank’s Strategic Cost Management Pays Off: A 36% Jump in Pretax Profit for Q2”

Sacombank’s core revenue for Q2 witnessed an 8% year-on-year increase, earning over VND 6,585 billion in net interest income.

Service income surged by 35% to VND 919 billion. Despite constituting a small portion of non-interest income, other non-credit income sources witnessed a decline, including foreign exchange trading income (-26%), investment securities income (-90%), and other operating income (-21%).

A notable highlight of Sacombank’s Q2 performance was a 20% reduction in operating expenses, totaling VND 3,199 billion. Consequently, profit from business operations increased by 45% to VND 4,570 billion.

Sacombank significantly increased its credit risk provision expenses by 96% to VND 912 billion, resulting in a 36% year-on-year increase in pre-tax profit, amounting to VND 3,657 billion.

For the first six months of the year, Sacombank’s pre-tax profit reached VND 7,331 billion, a 37% increase year-on-year. Compared to the full-year pre-tax profit target of VND 14,650 billion, Sacombank has accomplished 50% of its goal in the first two quarters.

As of the end of Q2, Sacombank’s total assets expanded by 8% from the beginning of the year to VND 807,339 billion. Customer lending increased by 9% to VND 587,960 billion, while customer deposits grew by 10% to VND 624,314 billion.

Sacombank’s total non-performing loans as of June 30, 2025, amounted to VND 14,472 billion, a 12% increase from the beginning of the year. The non-performing loan ratio slightly increased from 2.4% at the beginning of the year to 2.46%.

Han Dong

– 21:34 30/07/2025

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