Vietnam Export Import Commercial Bank (Eximbank) and Saigon Thuong Tin Commercial Bank (Sacombank) on Tuesday clinched a deal on a long-talked-about merger that would be complete in the next 3-5 years. The merger is aimed at making use of the two sides’ strengths, increasing market share, and improving competitiveness and business efficiency. The agreement is valid for five years. Eximbank is... 

Traders, trading households and companies joining the price stabilization program in HCMC can borrow money from Saigon Thuong Tin Commercial Bank (Sacombank) with an annual preferential rate of 10% over a period of six months to one year. According to the lender, the total amount of its preferential loans is VND1 trillion which is effective until January 31, 2013 or until when the amount is used... 

Saigon Thuong Tin Commercial Bank, or Sacombank, and JCB International Co. Ltd. last Saturday announced the launch of Sacombank-JCB Car Card focusing on car owners as customers. The product is designed for customers with minimum income of VND5 million a month and their automobiles are worth from VND300 million and not over five years old at registration. Sacombank-JCB Car Card holders can enjoy... 

The HCMC branch of the State Bank of Vietnam (SBV) is willing to pump VND28 trillion into Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) to help the lender deal with possible massive cash withdrawals after its chairman resigned. This was informed by Pham Huu Phu, new chairman of Sacombank replacing Dang Van Thanh. Speaking at a press conference in HCMC last Saturday, Phu said Thanh was... 

Saigon Thuong Tin Commercial Bank, or Sacombank, and life insurer Manulife Vietnam on Monday signed a cooperation agreement to diversify products and better customer services of the both sides. The agreement offers customers of Manulife Vietnam more insurance premium payment methods. Clients can settle fees at 410 transaction points of Sacombank by providing contract numbers or authorize the bank... 

Saigon Thuong Tin Commercial Bank, or Sacombank, has launched a program to provide preferential loans in dong and U.S. dollar for enterprises in need of operating capital for production and business in the second half of the year. The bank began on Tuesday to set aside VND2 trillion to make new loans available for corporate customers at an interest rate of 13% per annum. It also has a loan package... 

Fitch Ratings has affirmed that Vietnam-based Asia Commercial Bank (ACB) and Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) both received ‘B’ ratings with a stable outlook in addition to ‘b’ Viability Ratings (VRs). The Issuer Default Ratings (IDRs) in the banks’ standalone financial profiles reflect the continuing risks of the challenging domestic operating conditions,... 

The smile was still on the lips of Dang Van Thanh, President of Sacombank, who was believed to fight to the death against the attempt by others to takeover Sacombank. However, he could not reverse the situation. Some members of the board of directors of Sacmbank had to leave, giving the place to two from Phuong Nam bank, a big shareholder, and two from Eximbank. The leave of old members and the arrival... 

HCMC – Shareholders of Saigon Thuong Tin Commercial Bank, or Sacombank, during the general meeting last Saturday approved the resignations by five board members in a major leadership shakeup. Two former Sacombank board members, Dang Van Thanh and Dang Hong Anh, still sit on the new board. Eight new members were elected, with four coming from Southern Commercial Bank, one from ACB Securities Company,... 

Sacombank has unveiled an ambitious plan to issue $200 million worth of dollar bonds overseas this year amid fierce headwinds. Sacombank, one of Vietnam’s largest private banks by assets and operational networks, last week said it would issue $200 million worth of unsecured and unconvertible international bonds with a five-year tenor. The bond issuance, expected on the Singapore Stock Exchange,...