Business

Sacombank remains among 50 best profitable firms for 6th year

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.
Sacombank remains among 50 best profitable firms for 6th year ảnh 1A Sacombank representative receives the trophy and certificate commemorating its place in the Top 50 best profitable companies in Vietnam in 2022 from Vietnam Report Joint Stock Company and VietnamNet. (Photo courtesy of the bank)
HCM City (VNS/VNA) - Sacombank has been named among the country’s50 best profitable companies in 2022 for a sixth consecutive year in the annuallist compiled by Vietnam Report Joint Stock Company and VietnamNet.

Its pre-tax profit for the first nine months was 4.44 trillion VND (179.3million USD), meeting 84.1% of its full-year plan.

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

Its non-interest income also witnessed sharp growth. Income from servicesincreased by 82.3% with the main drivers being insurance and foreign exchangetrading.

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

Previously, Vietnam Report also named Sacombank among the ‘Top 50 Prestigiousand Effective Public Companies in 2022" (VIX50) and ‘Top 10 PrestigiousVietnamese Joint Stock Commercial Banks in 2022.’/.
VNA
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