Establishment & Development
History of the 3 participating banks before the consolidation
On December 26, 2011, the Governor of the State Bank granted License No. 283/GP-NHNN on the establishment and operation of Sai Gon J.S. Commercial Bank (SCB) from the voluntary merger of three banks: Sai Gon J.S. Commercial Bank (SCB), First J.S. Commercial Bank (Ficombank) and Vietnam Tin Nghia J.S. Commercial Bank (TinNghiaBank). The consolidated Sai Gon J.S. Commercial Bank officially came into operation on January 1, 2012.
This was considered an important turning point in the historical development of the three banks, marking a comprehensive change in scale of total assets, network, technology and personnel, etc. On the basis of succeeding to all inherent strengths of the predecessors, the determination of leaders and employees, especially the trust and support of customers and shareholders, SCB has grown stronger with nationally top-ranked total assets of VND673,276 billion, the charter capital of more than VND20,020 billion as of September 30, 2021. The bank currently has a network of 239 outlets in 28 major provinces/cities with the total number of over 7,000 employees.
Given strong backgrounds in financial potential, fast operational growth, advanced technology, diverse products of high service quality, SCB is believed to be steady in the path of becoming one of the leading retail – versatile – modern banks in Vietnam. Besides providing full financial packages to meet all customers’ demands, SCB is proud of increasing the values and benefits for partners, shareholders as well as bringing about one of the best working environments and well-being for the employees.
1/ Sai Gon Joint Stock Commercial Bank
Vietnamese name: NGAN HANG THUONG MAI CO PHAN SAI GON
English name: SAI GON JOINT STOCK COMMERCIAL BANK
The Bank, formerly named Que Do Commercial Joint Stock Bank, was established under the Operating License No. 00018/NH-GP dated June 06th 1992 issued by the Governor of the State Bank of Vietnam and the Establishment License No. 308/GP-UB dated June 26th 1992 issued by the People’s Committee of Ho Chi Minh City. On April 08th 2003, the Bank was officially renamed into Sai Gon Joint Stock Commercial Bank (SCB).
SCB was one of commercial joint stock banks operating effectively of Vietnam financial system. Since 27th December 2010, the charter capital of the bank reached VND 4,184,795,040,000; the total assets reached VND 77,985 billion as of 30th September 2011, increasing by nearly 30% compared with that of early 2011; the operation network consisted of 230 banking outlets spreading from the North to the South.
The flexible policies and comprehensive service products, meeting all customers’ diversified needs are the solid basis for SCB to acquire higher and higher business results and to be always a reliable companion with its customers, subject to the motto “Perfection for customers”.
2/ Vietnam Tin Nghia Commercial Joint Stock Bank
Bank’s name: NGAN HANG THUONG MAI CO PHAN VIET NAM TIN NGHIA
Bank’s name in English: VIETNAM TIN NGHIA COMMERCIAL JOINT STOCK BANK (VIETNAM TIN NGHIA BANK)
The Vietnam Tin Nghia Bank was formerly Tan Viet Commercial Joint Stock Bank, which was established in accordance with Banking License No. 0164/NH-GP issued by the State Bank of Vietnam on 22 August 1992. On 18 January 2006, the name of Tan Viet Commercial Joint Stock Bank was changed to be Pacific Commercial Joint Stock Bank according to Decision No. 75/QD-NHNN. After the Global Financial Crisis in 2008, the name of Pacific Commercial Joint Stock Bank was changed to be Vietnam Tin Nghia Commercial Joint Stock Bank in accordance with Decision No. 162/QD-NHNN for the purpose of restructuring and developing to catch up the general trend.
As of the end of September 2011, charter capital of Vietnam Tin Nghia Bank reached VND3,399,000,000,000; total assets reached VND58,939 billion, increasing 26% against 2010, exceeding 7,16% of the plan target. The bank has its operation network of 83 outlets, located from the South to the North.
During the establishing and developing process, the Vietnam Tin Nghia Bank faced lots of difficulties. However, being given the attention and assistance from Senior Executives of central and municipal administration and some commercial banks, the Board of Directors, Supervisory Committee and Board of Management made continual effort and united together with all staff members to overcome difficulties and step by step led the Bank to develop strongly in terms of quality and also quantity in the recent years.
3/ First Joint Stock Commercial Bank
Bank’s name: NGAN HANG THUONG MAI CO PHAN DE NHAT
Bank’s name in English: FIRST JOINT STOCK BANK (FICOMBANK)
The First Joint Stock Commercial Bank was established in accordance with Operating License No. 0033/NH-GP issued by the State Bank of Vietnam on 27 April 1993 and Establishment License No. 534/GP-UB issued by the People’s Committee of Ho Chi Minh City on 13 May 1993. In the context of operating according to legal framework for commercial banks in Vietnam, Ficombank was officially established and came into operation on 02 August 1993.
As of 30 September 2011, Ficombank’s charter capital reached VND3,000,000,000,000. The Business Result broke the item of total assets when reaching more than VND17,100 billion, exceeding 128% of the plan target. The bank has an operation network of 26 outlets, located in Ho Chi Minh City, Hanoi and some other big cities.