News about SCB

Saigon Thuong Tin Commercial Joint Stock Bank (SCB) has lowered the Napas 247 fast-transfer limit for individual customers on Mobile Banking and Internet Banking to a maximum of 20 million VND per transaction, per working day, per customer, effective from 18h20 on 30/10/2026. SCB says the change aims to strengthen transaction safety and protect customer accounts from fraud and account takeover in e-banking. Customers who need to transfer above the limit are directed to contact a branch or transaction office directly. This is not the first change: the limit was cut from 200 million VND to 100 million VND in August 2024, then to 50 million VND from 23/8/2024, and to 10 million VND from 12/9/2024. A notice dated 6/12/2024 raised it again to 100 million VND per transaction, per day, per customer.

Saigon Joint Stock Commercial Bank (SCB) has cut deposit rates across all terms, now listed at 0.01% to 1.18% a year depending on term. The article says SCB's 12-month rate is about 5% below state-owned banks and up to 7% below private banks. Other banks have also cut: SaigonBank has brought most terms below 7% a year, VPBank has lowered its 6–11-month rate to 6.6% for deposits under 10 billion dong, and Sacombank has reduced its 24–36-month rate from 7.8% to 7.3% a year for deposits of 500 million dong or more. The State Bank of Vietnam has asked banks to cut average deposit rates for new terms of 6 months or more by at least 0.5% a year in the final months of 2026, and to reduce lending rates by 1.5–2% a year for production, business and priority sectors.

Saigon Commercial Bank (SCB) cut its deposit interest rates from October 26 by 1.5 to 3.2 percentage points, and now pays 0.5% a year for 6–11 month terms, 0.7% for 2–3 year terms, and 0.1% for terms under 6 months. The move came about a week after the State Bank of Vietnam asked banks to cut savings rates for terms of 6 months or more and lower lending rates. Since being placed under special control in mid-2022, SCB has typically received liquidity support from the State Bank and exemption from deposit insurance premiums, so it has less need to attract deposits with high rates, though it had once ranked among the highest-paying banks, such as 8.25% in 2022. SCB now has only 8 branches after 39 closed from mid-July, and it says handling collateral to recover bad debts is its top priority.