Saigon Tai Loc Bank (Sacombank) continued to cut staff, with about 12,550 employees across the bank and its subsidiaries as of late September, down more than 4,260 or 25% since the start of the year, the lowest headcount since 2014. The parent bank alone had about 11,560 employees, down 27%. The cuts came during a comprehensive restructuring after Nguyen Duc Thuy joined in late 2025 and became general director in early March this year. Nine-month profit fell as the bank stepped up credit risk provisioning, with pre-tax profit of nearly 5,900 billion VND, down more than 46%. Total assets exceeded 1 million billion VND, up 15% from the start of the year, while the non-performing loan ratio rose from 6.41% to 7.33%.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Sacombank giảm nhân sự xuống thấp nhất 10 năm
Read the original on VnExpress ↗
Keywords
STBbankscreditnon-performing loans
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Related tickers and likely impact
STB
• NeutralSaigon Treasure Bank
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Banks |
| Market cap | 127,441 bn VND |
| P/E | 41.4 |
| P/B | 2.03 |
| Close on 10/27/2026 | 67.40 |
| Change that session | -0.30% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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- Sacombank's workforce size and employee income: current situation
Sacombank's headcount fell sharply in the first nine months of 2026: group employees totaled 12,553 at September 30, 2026, down 4,263 (25.4%) from end-2025, while the parent bank's headcount fell 27.1%. Employee costs for the nine months were about VND 5,108 billion, down 17.3% year on year, while average cost per employee rose 22.8% to VND 45.2 million per month from VND 36.8 million a year earlier. Third-quarter 2026 pre-tax profit fell 52% to VND 1,757 billion and after-tax profit fell 53.6% to VND 1,347 billion, mainly due to a sharp rise in credit risk provisions and lower net interest income. Non-performing loans rose to VND 51,367 billion, or 7.33% of total loans, from about 6.41% at the start of the year. The bank also changed its legal name, moved its head office and replaced its CEO during 2026.
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Sacombank (STB) posted third-quarter 2026 pre-tax profit of VND 1,757 billion, down 52% year on year, and after-tax profit of VND 1,347 billion, down 53.6%. The main cause was a surge in credit loss provisions to VND 5,729 billion, about 5.5 times the year-earlier level, while net interest income fell 33.6% to VND 5,228 billion. Net service income rose more than sixfold to VND 4,255 billion and partly offset the drop, while the bank said narrower margins on preferential lending programs were a way to share benefits with businesses. As of September 30, 2026, consolidated total assets reached about 1.057 million billion VND, making Sacombank the fifth private bank to pass 1 million billion VND, after VPBank, Techcombank, ACB and HDBank. Bad debts continued to rise, with the ratio at about 7.33% of total loans, up from about 6.41% at the start of the year.
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