On September 24, 2021, Saigon Commercial Bank (SCB) was honored as "The Third - Most Tenor Offering Market Maker 2020” by the Vietnam Bond Market Association (VBMA).
The award ceremony took place as part of the VBMA's Annual Meeting in Hanoi. This is regarded a prestigious ceremony annually giving awards to market makers in recognition of their contributions to setting short-term yield curves while boosting liquidity for the Repo market.
The award was even more significant right after SCB’s first-year participation in the Repo trading room, established by VBMA in 2020 with aim to provide a reliable short-term benchmark rate curve for the market together with SCB as one of the first 10 members.
Vietnam's bond market has grown substantially over the years in scale and notability. The increasing volume and value of Bond transactions harmoniously reflect the development of the financial market, especially the Government bonds, which is directly an effective capital mobilization instrument for the State budget.
SCB has always been an ardent companion along the development journey of national bond market as a member of VBMA, an outright trading market maker together with 10 other renowned members and a tenor trading market maker together with 9 other outstanding members. The bank has been known for its major role as a direct trading member at the Hanoi Stock Exchange (HNX) in many years and a direct depository member at the Vietnam Securities Depository as well. In 2021, SCB was announced by the Ministry of Finance as one of the market makers for debt market.
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 a leading retail – versatile – modern banks in Vietnam. The bank continues to go ahead, acclaimed as one of the 5 biggest joint stock commercial banks in the nation with its VND670,749 billion of total assets, VND20,020 billion of charter capital as of June 30, 2021. It has 239 banking outlets in 28 most popular business provinces/cities with more than 7,000 employees nationwide.
Representative of SCB received the award for "The Third - Most Tenor Offering Market Maker 2020”