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| Sacombank has been named “Vietnam’s Best FX Bank” by Euromoney magazine at the Awards for Excellence 2024 ceremony for the second year in a row. — Photo courtesy of Sacombank |
HCM CITY — Sacombank has been named “Vietnam’s Best FX Bank” by Euromoney magazine at the Awards for Excellence 2024 ceremony.
This marks the second year in a row that Sacombank has received this award, recognising its significant contributions to the foreign exchange market and breakthroughs in enhancing customer experiences throughout 2023.
According to the awards jury, Sacombank’s FX division played a crucial role in the bank's strategy, contributing more than 10 per cent of its pre-tax profit in 2023.
Amid domestic and global economic challenges, Sacombank leveraged its strengths in foreign currency liquidity and advanced systems to offer optimal FX and derivatives solutions, enabling clients to manage exchange rate risks effectively and reduce costs.
Sacombank also enhanced its services with professional, multi-format forecasts covering exchange rates and commodity prices. Additionally, a system was implemented to assist clients in monitoring exchange rates and managing cash flows.
Euromoney praised Sacombank for developing and offering additional digital foreign exchange solutions tailored to customer needs built on the success of its core-treasury system upgrade project. All FX transaction information is updated in real-time, available 24/7, and remains accessible during holidays to ensure swift and convenient customer payments.
Euromoney Awards for Excellence are highly regarded as among the most prestigious and sought-after recognition in the global financial and banking industry for over 30 years, honouring over 600 banks and financial institutions for their outstanding achievements, growth, high adaptability to market changes and customer needs, especially demonstrating their pioneering and differentiation in business practices.
The awards criteria remains the industry benchmark globally today.
This year, Sacombank also won the Best in Treasury and Working Capital SMEs Vietnam 2024 award at the 2024 The Asset Triple A Award given by Hong Kong magazine The Asset.
For a third year in a row Sacombank has won this award by meeting all criteria in terms of business performance, solutions to support small and medium-sized customers and positive customer reviews.
- Sacombank honoured among Vietnam’s Top 50 Most Profitable Companies of 2024 Sacombank was named among the “Top 50 Vietnam Best Profitable Companies” at an event held to announce the 500 most profitable enterprises (PROFIT500) in 2024 by Vietnam Report and e-newspaper Vietnamnet in Hà Nội on October 24.
The bank moved up 13 spots to 20th position in the rankingthis year.
The award has reinforced Sacombank’s outstanding position within the business community by maintaining stable and sustainable business performance, demonstrating strong profit growth potential from 2022 to 2024, and contributing to the country's economic recovery.
This marks the eighth year of the awards and also the eighth consecutive year that Sacombank is winning the award.
As of the end of September 2024, Sacombank’s consolidated pre-tax profit reached nearly VNĐ8.1 trillion (US$320 million), a year-on-year increase of 18.3 per cent, achieving 76.4 per cent of the full-year target approved by shareholders.
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| Sacombank was named among the “Top 50 Vietnam Best Profitable Companies” in 2024 by Vietnam Report and e-newspaper Vietnamnet. — Photo courtesy of Sacombank |
