CORPORATE EXCELLENCE CATEGORY
Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank)
Information about the Company
Sacombank was established on 21 December 1991, and is one of the first Joint Stock Commercial Banks established in Ho Chi Minh City with initial charter capital of VND 3 billion. Sacombank adopts modern business models, improves operating standards in line with international practices, increases competitive advantage and brand value, to position the bank as the top regional retail bank in Vietnam, Laos and Cambodia. With solid internal strength and forward-facing spirit, Sacombank is ready for a new journey of reaching further and higher.
The bank’s vision is to become the leading bank in Vietnam’s retail banking service. Its mission is providing the best-in-class comprehensive financial solutions for customers; maximising added value to partners, investors, and stakeholders; creating value and prosperity for employees; and contributing to the development of society and the community.
The bank’s core values include pioneering and paving towards success, providing innovative and dynamic approaches for sustainable development, making a difference via breakthrough innovations and advanced business governance, committing to quality assurance in customer service and partner cooperation, and upholding its responsibility to the community and society for Eternal Happiness.
Company Culture
Sacombank's culture is built on the basis of good traditions and values, which are the agent, the glue to connect all employees together. In this miniature society, the young, dynamic, knowledgeable, enthusiastic, united and creative staff strive constantly for a strong and sustainable development of Sacombank.
The bank’s five core values include democracy, proactive creativity, discipline, exemplary, and dedication. Moreover, the company has set rules of ethics that it follows which include complying with the laws and Sacombank's regulations; building respectful and fair working relationships, using Sacombank's working time and assets for the right purposes and effectively; prohibiting from abusing power for personal gain; uniting and cooperating to help and support each other, managing conflicts of interest; upholding responsibility to customers, society, and the environment; transparency and confidentiality of information, and reporting responsibilities.
In addition to effective business strategies in each period, Sacombank always focuses on combining economic goals with other environmental and social objectives to ensure the harmony of stakeholders’ interests as sustainable development is always centric in Sacombank's business development strategy.
In 2021, Sacombank will start turning into the 30th year of operation. The heir generations have been promoting and creating new imprints in the financial - banking industry as well as promoting digital technology platforms, making it the first bank to hold an online General Meeting of Shareholders.
The bank will also begin digitising human resources through digital work environment applications. The inauguration of the new headquarters Training centre will help the bank move towards the application of advanced technology and catch up with new trends.
"Growing together": with shareholders to accompany the Bank, the Bank to accompany the customers, the Bank to accompany the society.
Achievements & Impact
In 2019, the bank was recognised at the Vietnam Outstanding Banking Awards together with a series of events such as the Vietnam Retail Banking Forum. It was also ranked among the Top 40 Vietnamese valuable brands by Forbes and the Top 10 prestigious private joint-stock commercial banks in Vietnam in 2019 by the Vietnam Report.
In 2020, Sacombank was ranked among the Top 20 Popular Trademarks in Vietnam 2020 by the Vietnam Intellectual Property Association. Moreover, it was recognised as the Best Forex Bank Vietnam 2020 by Global Banking & Finance Review (London). The bank’s Chief Executive Officer (CEO) was also awarded the Asia Entrepreneur of the Year 2020 (CEO) by the Asia Pacific Enterprise Awards. Additionally, the “Sacombank Digitalization Strategy” was awarded for digital transformation strategy within the framework of the International Innovation Award 2020 by Enterprise Asia (Malaysia). The bank also received the PCI DSS international security standard certificate version 3.2.1 by the PCI Security Standards Council.
Future Direction
The bank has developed an orientation for the next two years to further accelerate its sustainable development and growth. Firstly, it aims to diversify its capital structure and utilise its capital towards safety, efficiency, and sustainability by focusing on developing non-credit income and service income and gradually reducing excessive dependence on credit income.
Moreover, the bank plans to become the bank with the largest number of individual customers by increasing the number of customers in the retail segment. It also seeks to develop a products and services package to serve and meet the needs of its target customer segment, following the motto "Simple–Friendly–Outstanding".
Furthermore, applying advanced technology and management systems is one of the bank’s plans to control risks in operations and overall improve its operational quality. The bank is also developing the "Building a Digital Enterprise Architecture" project by increasing automation and integrating digital platforms to best serve customer needs. Particularly, IBM advised Sacombank to use artificial intelligence (AI) to analyse customer needs, thereby creating products and services to meet the diverse needs of Sacombank's customers.
CORPORATE EXCELLENCE CATEGORY
Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank)
Information about the Company
Sacombank was established on 21 December 1991, and is one of the first Joint Stock Commercial Banks established in Ho Chi Minh City with initial charter capital of VND 3 billion. Sacombank adopts modern business models, improves operating standards in line with international practices, increases competitive advantage and brand value, to position the bank as the top regional retail bank in Vietnam, Laos and Cambodia. With solid internal strength and forward-facing spirit, Sacombank is ready for a new journey of reaching further and higher.
The bank’s vision is to become the leading bank in Vietnam’s retail banking service. Its mission is providing the best-in-class comprehensive financial solutions for customers; maximising added value to partners, investors, and stakeholders; creating value and prosperity for employees; and contributing to the development of society and the community.
The bank’s core values include pioneering and paving towards success, providing innovative and dynamic approaches for sustainable development, making a difference via breakthrough innovations and advanced business governance, committing to quality assurance in customer service and partner cooperation, and upholding its responsibility to the community and society for Eternal Happiness.
Company Culture
Sacombank's culture is built on the basis of good traditions and values, which are the agent, the glue to connect all employees together. In this miniature society, the young, dynamic, knowledgeable, enthusiastic, united and creative staff strive constantly for a strong and sustainable development of Sacombank.
The bank’s five core values include democracy, proactive creativity, discipline, exemplary, and dedication. Moreover, the company has set rules of ethics that it follows which include complying with the laws and Sacombank's regulations; building respectful and fair working relationships, using Sacombank's working time and assets for the right purposes and effectively; prohibiting from abusing power for personal gain; uniting and cooperating to help and support each other, managing conflicts of interest; upholding responsibility to customers, society, and the environment; transparency and confidentiality of information, and reporting responsibilities.
In addition to effective business strategies in each period, Sacombank always focuses on combining economic goals with other environmental and social objectives to ensure the harmony of stakeholders’ interests as sustainable development is always centric in Sacombank's business development strategy.
In 2021, Sacombank will start turning into the 30th year of operation. The heir generations have been promoting and creating new imprints in the financial - banking industry as well as promoting digital technology platforms, making it the first bank to hold an online General Meeting of Shareholders.
The bank will also begin digitising human resources through digital work environment applications. The inauguration of the new headquarters Training centre will help the bank move towards the application of advanced technology and catch up with new trends.
"Growing together": with shareholders to accompany the Bank, the Bank to accompany the customers, the Bank to accompany the society.
Achievements & Impact
In 2019, the bank was recognised at the Vietnam Outstanding Banking Awards together with a series of events such as the Vietnam Retail Banking Forum. It was also ranked among the Top 40 Vietnamese valuable brands by Forbes and the Top 10 prestigious private joint-stock commercial banks in Vietnam in 2019 by the Vietnam Report.
In 2020, Sacombank was ranked among the Top 20 Popular Trademarks in Vietnam 2020 by the Vietnam Intellectual Property Association. Moreover, it was recognised as the Best Forex Bank Vietnam 2020 by Global Banking & Finance Review (London). The bank’s Chief Executive Officer (CEO) was also awarded the Asia Entrepreneur of the Year 2020 (CEO) by the Asia Pacific Enterprise Awards. Additionally, the “Sacombank Digitalization Strategy” was awarded for digital transformation strategy within the framework of the International Innovation Award 2020 by Enterprise Asia (Malaysia). The bank also received the PCI DSS international security standard certificate version 3.2.1 by the PCI Security Standards Council.
Future Direction
The bank has developed an orientation for the next two years to further accelerate its sustainable development and growth. Firstly, it aims to diversify its capital structure and utilise its capital towards safety, efficiency, and sustainability by focusing on developing non-credit income and service income and gradually reducing excessive dependence on credit income.
Moreover, the bank plans to become the bank with the largest number of individual customers by increasing the number of customers in the retail segment. It also seeks to develop a products and services package to serve and meet the needs of its target customer segment, following the motto "Simple–Friendly–Outstanding".
Furthermore, applying advanced technology and management systems is one of the bank’s plans to control risks in operations and overall improve its operational quality. The bank is also developing the "Building a Digital Enterprise Architecture" project by increasing automation and integrating digital platforms to best serve customer needs. Particularly, IBM advised Sacombank to use artificial intelligence (AI) to analyse customer needs, thereby creating products and services to meet the diverse needs of Sacombank's customers.