Being one of the largest commercial banks, Saigon Commercial Bank (SCB) has always regarded its customers’ benefits as first priority. In 2017, SCB has constantly introduced new products and invested in better utilities, bringing the best experience for customers.
Aiming to become one of the leading modern retail banks, SCB has put great emphasis on IT investment, hence introducing new products-services, enhancing the safety and security in banking activities, applying IT in business development, governance, risk management and statistics and report. All of those resulted in appropriate service, product packages well-received by customers.
In the past five years, SCB has succeeded in setting up new IT applications and facilities, including a new data centre, ERP system, iServices — Intelligent Services Processing for tablets, etc.
Significantly, SCB is proud to be the first bank in Vietnam to obtain the PCI DSS version 3.2 – security standards in card issuance and acceptance, by Payment Card Industry Security Standards Council.
Keeping up with that trend, in 2017, SCB continues upgrading its core banking system and developing digital banking to provide highest level of service to customers. SCB is projected to focus on retail banking, increasing the proportion of non-interest revenue in the income structure.
According to consolidated financial report in first three quarters of 2017, net-profit from service reached VND635.2 billion* ($27.9 million), an increase of 66.5% over the corresponding period in 2016.
Compared to credit activities, the profit from service has been approximately 40% that from credit, a considerable rise from the ratio of 16.2% in 2016, proving that SCB has made significant achievement in non-credit business.
Previously, profit from service reached VND566.5 billion ($24.9 million) in 2016, a growth of 70% compared to 2015. These figures have proven that SCB’s retail products have become well-trusted by customers.
In 2017, SCB believes that 25% of operating cost would be covered by service fees. This has stood out as the most crucial target among other financial targets in 2017. Modern retail bank orientation will also be fortified by this goal.
To become one of the leading commercial banks in Vietnam, SCB will persistently leverage the upper edge and opportunities, promote the innovation to speeding up its operation and best serving customers, which are considered its core priorities in the future.
Financial achievements
As of September 30, 2017, SCB reached VND14,295 billion ($627.5 million) in charter capital and VND429,943 billion ($18.9 billion) in total assets, making it into the top 10 commercial banks in Vietnam. Total mobilisation reached VND361,157 billion ($15.9 billion) at the end of September 2017 and VND257,627 billion ($11.3 billion) in loans. More than 5,000 SCB employees are working at 229 (sub) branches in 26 provinces/cities nation-wide.
Awards
In 2017, SCB received numerous awards from domestic and international organizations, namely: Top 500 largest commercial enterprises by Vietnam Report, Best Foreign Exchange Provider – Vietnam 2017 by European Magazine, Best Commercial Bank, Vietnam – 2017 by World Finance Magazine, SME Bank – Vietnam 2017 by International Finance magazine, Best Banking Technology Vietnam 2017 by Global Banking & Finance Review, Best Customer Service Bank Vietnam 2017 by Global Business Outlook, etc.
*Exchange rate: $1 VND22,780 as of November 7, 2017 at Saigon Commercial Bank