SCB unabatedly steps into the first quarter of 2022 with positive business results

Business performance of SCB with financial indicators in the first quarter of 2022 all recorded stable growth, keeping on track the right direction for sustainable, safe and fruitful development.

Positive results kicked off 2022

On March 31, 2022, SCB's total assets reached VND738,142 billion, continuing to be among domestic banks having the most total assets.

According to the financial report for the first quarter of the year, the bank lent customers VND395,472 billion as well as deposits received from customers came by VND560,228 billion.

In the same period, SCB's total operating income (TOI) was up 4.2 times year over year, hitting VND2,928 billion. Besides, the bank's foreign exchange trading notably recorded net revenue 2.4 times higher year over year. Considering revenue structure, net interest income and non-interest income currently account for 77% and 23% of the total operating income respectively.

The outcome was even more optimistic when the bank's pre-tax profit reached VND457 billion, an increase of 71% compared to the same period of last year.

SCB’s outstanding achievements recently have been acknowledged by Vietnam Report’s naming as one of the Top 50 Vietnam Best Growth 2022 at an award ceremony honoring enterprises making into the list of VNR 500 – Vietnam Top 500 Company Profiles, as well as having been awarded “Fast Enterprise Award” by Enterprise Asia.

At the same time, SCB has launched the project "Gap assessment and building a roadmap for Basel II compliance", in collaboration with KPMG, one of the leading companies for this field in Vietnam. This project proves the bank’s initiative and determination in following new regulations of the State Bank and applying international standards to Vietnamese banking industry.

Building an ecosystem of comprehensive products

On the way of building an ecosystem of comprehensive products for all types of customers, SCB focused on promoting Bancassurance, international payment cards and investment-linked services in the first quarter of the year.

The bank’s newly launched BeYOU cards with Zodiac signs, designed out of showing unique characteristics and personality attributes of young cardholders, along with S-Digital cards with special benefits for online businesses and marketing are both currently hot in the market, taking up 42% of the total number of cards issued in this first quarter.

In Bancassurance, a new life insurance package “Kien tao thinh vuong - The creation of prosperity” has recently been publicly introduced by the bank as a the product from cooperation with Manulife with the "two in one" feature: life protection with savings plan.

Especially, in March 2022, SCB signed a cooperation agreement with Tan Viet Fund Management JSC (TVFM), aiming to provide extraordinary packages to investors with high interest rates and efficiency, promising to impress customers with their new aspects and stable profitability.