SCB named in Top 50 Vietnam best growth

Sai Gon J.S. Commercial Bank (SCB) was honored to be in the “Top 50 Vietnam Best Growth in 2022” list of Vietnam Report JSC. The bank also made its way into the ranking of “Top 500 Fastest Growing Enterprises in Vietnam” in the same year.

The FAST500 program has been annually organized by Vietnam Report since 2011 based on results of independent research and evaluation following international standards. Enterprises’ ranks are determined by their Compound Annual Growth Rates (CAGR) in terms of revenue and business performances.

The ranking of Top 50 Vietnam Best Growth was published by Vietnam Report in 2015 in order to recognize and commend 50 enterprises leading in sustainable profit growth with efficient and stable businesses in the period of 2015 – 2021. Besides, an enterprise’s scale and standing in its field are also attested by other criteria like total asset, manpower, after-tax profit and reputation in the media, etc.

This victory has shown the bank’s exceptional standing in domestic most developed business community by achievements in stable and sustainable business performance, strict compliance with the law and great contributions to the state budget.

Having faced many challenges in 2021, SCB nevertheless maintained a sound and safe growth rate, fulfilling the key goal of effective restructuring, deploying new business models and a system of multi-utility products and services to achieve excellent customer experience. Moreover, the bank constantly improves performance of human resources, optimizing capital and strengthening risk management.

By the end of 2021, SCB’s profit before tax within the year reached VND1,377 billion as well as successfully having charter capital grown from VND15,231 billion to VND20,020 billion.

SCB’s net interest income in this year also went up by 163%. With the strategy of diversifying sources of revenue, non-credit activities such as services, forex trading, investment securities trading, etc. recorded good results and contributed 36% to total operating income.

Moreover, SCB has recently been honored by many prestigious domestic and international awards as “Fast Enterprise Award”, “Outstanding products and services in Ho Chi Minh City 2021”, “Best Banking Technology Vietnam 2021”; "Best CSR Bank Vietnam 2021"; “Best Commercial Bank Vietnam 2021”; “Straight Through Processing Award 2020”, “Top 100 Vietnamese Strong Brands 2021”, to name a few.

Along with business plans, SCB has long-term goals for building a solid financial foundation, improving efficiency of organizational management and operations, orienting itself as a modern, versatile retail bank that always gives utmost priority to customers.

SCB is currently carrying out the project "Gap assessment and building a roadmap for Basel II compliance", in collaboration with KPMG, to evaluate and upgrade the bank’s risk management activities as per requirements of the State Bank (SBV) and Basel II standards.

Mr. Diep Bao Chau – Deputy CEO of SCB received the “Top 50 Vietnam Best Growth 2022” award.

Representatives of enterprises received the "Top 50 Vietnam Best Growth 2022" award.