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.
Its pre-tax profit for the first nine months was 4.44 trillion VND (179.3 million USD), meeting 84.1% of its full-year plan.
Its improved recovery of bad debts and outstanding assets significantly improved its bottom line.
Its non-interest income also witnessed sharp growth. Income from services increased by 82.3% with the main drivers being insurance and foreign exchange trading.
As a result, non-interest income increased to account for nearly 40%.
Previously, Vietnam Report also named Sacombank among the ‘Top 50 Prestigious and Effective Public Companies in 2022" (VIX50) and ‘Top 10 Prestigious Vietnamese Joint Stock Commercial Banks in 2022.’/.