Vietnam's best bank for SMEs 2021: Sacombank
Sacombank, led by chief executive Nguyen Duc Thach Diem, is defined by its services for small and medium-sized companies in Vietnam. After all, the bank has spent three decades developing relationships and lending to SMEs, from micro businesses to the slightly larger clients. That commitment did not falter during the last 12 months: the bank continued to lend and even expanded its customer base in new sectors.
The bank will celebrate its 30th anniversary in December. As of the end of May, it had more than 180,000 SME customers, accounting for 99% of its corporate customers and 22% of all businesses operating in Vietnam, according to the bank. It also has about 7 million retail clients.
What’s doubly impressive is that Sacombank signed up 21,000 of its SME customers between June 1, 2020 and May 31 this year, after it extended its focus to include import- and export-heavy businesses and as relations between the US and China soured. Against the backdrop of the US-China trade war, international firms turned to southeast Asia in search of alternative supply lines and identified suitable companies in Vietnam.
Thanks to these efforts, Sacombank has the largest SME loan book in the country, spanning cities and rural areas.