HCM CITY — Saigon Treasure Commercial Joint Stock Bank (SACOMBANK) is diversifying its funding sources to create greater scope for lending to businesses, supporting production and business activities, and contributing to economic growth.

A report by the State Bank of Vietnam shows that rapid credit growth in the first seven months of 2026 pushed the gap between credit and deposits across the banking system to about VNĐ2 quadrillion (US$77 billion).

Meanwhile, banks issued more than VNĐ194 trillion ($7.47 billion) worth of bonds in the first eight months of the year, accounting for 50.6 per cent of total corporate bond issuance.

This points to a growing trend in the banking sector. As credit demand expands, building a diversified funding structure with balanced maturities and greater control over funding costs is becoming more important than ever.

SACOMBANK is pursuing this approach by combining customer deposits with medium- and long-term funding raised through bond issuance.

Diversifying funding sources

SACOMBANK’s board of directors has approved a plan to offer VNĐ15 trillion ($557.6 million) worth of bonds to the public in 2026.

The bank will offer 150 million bonds with a face value of VNĐ100,000 each, with maturities of seven and 10 years. The issuance is expected to be made in three tranches from the fourth quarter of 2026 to the third or fourth quarter of 2027.

The bonds will carry floating interest rates, adjusted annually based on a reference rate plus a margin.

The offering is open to qualified domestic and foreign institutional and individual investors eligible to invest in the Vietnamese securities market.

The bonds will be distributed through SACOMBANK’s nationwide network of branches and transaction offices and/or distribution agents, and will be listed after the offering is completed.

SACOMBANK has announced a board of directors resolution on the issuance and use of proceeds from its public bond issuance.— Photo courtesy of the bank

Earlier, SACOMBANK’s board had approved two bond issuance plans totalling up to VNĐ40 trillion ($1.5 million) in June 2026.

These included VNĐ20 trillion in private bonds to supplement medium- and long-term funding, and another VNĐ20 trillion to raise Tier 2 capital.

Customer deposits remain a key pillar of SACOMBANK’s funding structure. As of the end of September, customer deposits were expected to have risen by 22.7 per cent for the year to VNĐ800 trillion.

SACOMBANK’s funding mobilisation has grown positively. — Source SACOMBANK

A SACOMBANK executive said the bank was restructuring its funding base to strengthen its ability to respond to changing market conditions.

“Diversifying funding sources is not merely about seeking additional resources; it is how SACOMBANK proactively prepares for funding needs expected to arise in the market.

“With funding prepared proactively, the bank will be better positioned to support customers and turn financial resources into a driver of economic growth.”

Unlocking capital to support the economy

A key feature of SACOMBANK’s VNĐ15 trillion public bond issuance plan is the proposed use of the proceeds: All funds raised are expected to be used for lending to the economy through the end of 2027.

Of this, around 35 per cent of the amount raised will be allocated to priority sectors identified by the Government and the SBV, including agriculture, forestry and fisheries; processing and manufacturing; and wholesale and retail.

This shows that SACOMBANK’s funding diversification goes beyond its balance sheet. More importantly, the funds are being prepared to meet the economy’s actual capital needs, particularly as businesses require financing for working capital, production expansion, supply chain investment, and trade activities.

The SACOMBANK executive said: “The ultimate goal of proactively securing funding is to better serve the economy. We want every source of funds raised to be channelled into productive resources for business activities and customers’ legitimate development needs. This also provides a foundation for SACOMBANK to pursue more sustainable and proactive growth in the new phase.”

By securing funding today, SACOMBANK is laying the foundation for future capital flows to continue reaching businesses and customers, supporting production and business activities, and contributing to Việt Nam’s economic growth.