 |
Best Bank: Sacombank |
Saigon Thuong Tin Bank, or Sacombank as it is best known, Vietnam’s largest privately held joint stock bank, is also Vietnam’s best bank. Headquartered in Ho Chi Minh City, the bank’s network is nationwide, covering more than 34 provinces and with 163 branches and transaction offices and some 4,000 employees. The bank boasts a large correspondent banking network of 222 banks in 88 countries and territories. Sacombank is a full-service bank in Vietnam with personal banking, including credit card and consumer and SME loans and corporate banking, including loans, foreign exchange and payment services. The bank’s principal foreign shareholders, who collectively control 30% of the bank, the maximum permitted by law, are International Financial Corporation, Dragon Capital and ANZ Bank. Vietnamese institutions and individuals hold the remaining stock; the government holds no shares. The bank’s shares are listed on the Saigon stock exchange with a market capitalization of approximately $2 billion.
 |
| Sacombank chairman Dang Van Thanh sounds a gong during his bank’s stock debut ceremony in Ho Chi Minh City |
Sacombank’s financial results are impressive.