AsemconnectVietnam - Sacombank said that pre-tax profit in the fourth quarter of 2024 is estimated to reach over VND4,600 billion, up 68% over the same period and the whole year of 2024 is estimated to reach over VND12,700 billion, the highest level ever and exceeding the target assigned by the General Meeting of Shareholders.

The profitability indicators ROA are estimated at 1.46%, ROE is estimated at 20.23%, both higher than the same period last year and continue to be among the leading groups in the industry.
As of December 31, 2024, Sacombank's total assets are estimated to reach over USD29 billion, up 7% compared to 2023. Capital mobilization and outstanding credit are estimated at VND649 trillion and VND542 trillion, respectively, up 12% over the same period.
In 2024, the digital banking channel will grow strongly in both the number of new customers and the number of transactions, estimated to increase by 6.9% and 34.8% respectively compared to the previous year.
Thereby helping Sacombank expand its customer base to 20 million, improving customer experience with a customer satisfaction rate of over 90%. Sacombank controls and improves asset quality, in which the proportion of profitable assets is estimated to increase by 95%.
In 2024, Sacombank will continue to promote the recovery and handling of nearly VND10,000 billion of bad debts and outstanding assets, contributing to strengthening asset quality. At the same time, the Bank has also completed the project of building financial statements according to IFRS 9 standards and continued to successfully apply Basel III, enhancing transparency and honesty in business operations and risk management according to international practices.
Sacombank has always complied with and actively improved operational safety indicators, the CAR ratio is approaching 10%, balancing the target of operational safety and effective capital exploitation.
This year, Moody's and Fitch Ratings - two of the three largest and most prestigious credit rating organizations in the world - have rated Sacombank with a stable outlook based on their assessment of business operations, solid asset quality, good profitability and high risk management capacity, continuously improving during the restructuring process.
Currently, Sacombank is waiting for the State Bank to approve the project to handle the STB shares of the group of shareholders related to Mr. Tram Be (32.5% of STB shares are being managed by VAMC).
N.Nga
Source: VITIC/Tinnhanhchungkhoan