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AwardsBest Bank Awards

Vietnam's best bank for SMEs 2022: Sacombank

Sacombank

Nguyen Duc Thach Diem, Sacombank.jpg
Nguyen Duc Thach Diem, Sacombank

Small and medium-sized enterprises are essential for economic development and job creation in most economies. But in a frontier market like Vietnam, they are even more critical, so it is important that banks cater to their needs.

Saigon Thuong Tin Commercial Joint Stock Bank – or Sacombank – wins Asiamoney’s award for the best bank for SMEs in Vietnam this year for pioneering several banking solutions for SMEs and making them a core part of its business.

Sacombank, led by chief executive Nguyen Duc Thach Diem, boasted a client roster of more than 183,000 SMEs by the end of March 2022: they accounted for about 99% of its total corporate customer base and 22% of the businesses operating in Vietnam. The bank added 12,000 new SMEs to its portfolio during the awards period.

Between April 2021 and March 2022, Sacombank’s SME loan book grew 12%, year on year, to about D120 trillion ($5.1 billion), while deposits rose 31% to D53.4 trillion. SME revenues rose 14% to D4.5

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