News about Sacombank

Sacombank (Sai Gon Tai Loc Joint Stock Commercial Bank) had 12,553 employees as of 30 September 2026, down 4,263 or 25.4% from end-2025, while the parent bank's headcount fell 27.1%. Headcount dropped by about 474 a month on average in the first nine months, to its lowest level in over a decade. Nine-month staff costs were about VND 5,108 billion, down 17.3%, while average cost per employee rose 22.8% to VND 45.2 million a month. Q3 pre-tax profit fell 52% to VND 1,757 billion and after-tax profit fell 53.6%, mainly due to sharply higher credit risk provisions and lower net interest income. Non-performing loans rose to VND 51,367 billion, or 7.33% of outstanding loans, from about 6.41% at the start of the year.

SACOMBANK has appointed Nguyễn Xuân Ái Quốc as Deputy General Director, following a series of frequent personnel changes since the start of the year. Mr. Quốc has more than 20 years of experience in banking and finance at institutions including ANZ, HSBC, VIB, Commonwealth Bank of Australia and Westpac, and in recent years handled large corporate clients and complex large-scale financing deals. He is expected to drive customer-centric business, strengthen financial solution advisory, and improve coordination among business, product and risk management units. With this appointment, the bank's number of Deputy General Directors rises to nine. The article also recaps other changes: Nguyễn Đức Thụy became General Director from March 3, 2026 before moving to Standing Vice Chairman, with Loic Faussier taking over executive duties; Nguyễn Xuân Vũ was elected Vice Chairman from September 18, 2026; and several other deputy directors have resigned or left the bank.

The Sacom crypto-asset exchange (SCEX), where the son of Sacombank vice chairman Nguyễn Đức Thụy serves as vice chairman, has completed a capital increase from VND 5,000 billion to VND 10,000 billion, the minimum required to run a digital asset exchange. A filing published on the National Business Registration Portal on October 14 shows all capital was paid in cash and no foreign shareholders have been recorded. Under the rules, 35% of capital must be held by at least two banks, securities firms, fund managers, insurers or technology companies. SCEX is the third asset company to reach VND 10,000 billion in charter capital, after CAEX and Vimexchange. Vietnam is piloting a crypto-asset market for five years, and the Ministry of Finance began accepting licence applications on January 20, with a target of up to five firms.