Vietnam’s Sacombank planned to raise $200 million via a dollar bond on overseas markets and proceeds would go to its banking business, the lender said in a statement. The Ho Chi Minh City-based bank would issue the five-year bond in the second or the third quarter of this year, subject to shareholder approval at a meeting on May 26, the bank said. Sacombank said it would list the bond on the... 

Leaders of Vietnam Export Import Commercial Bank (Eximbank) during its 27th annual general meeting last Saturday assured shareholders they will reap the rewards for investing in Saigon Thuong Tin Commercial Bank, or Sacombank. Speaking at the meeting, Eximbank chairman Le Hung Dung said the board of directors could not tell shareholders about the incomplete investment deal but pledged to bring shareholders... 

Sacombank (Cambodia) Plc, a unit of Saigon Thuong Tin Commercial Bank, on Thursday inaugurated a branch in Kampong Cham City, taking to four the number of its branches in the neighboring country. The branch provides a wide range of services such as international remittance, consumer and business loans, guarantees and deposits, for Cambodian enterprises and individuals, the Vietnamese community in... 

Saigon Thuong Tin Commercial Bank on Wednesday clinched a deal with Coinstar Money Transfer Company to expand remittance payment services for local individual customers. The cooperation is to bring better benefits for remittance senders and receivers in and outside Vietnam as well as raise competitiveness of the both sides in the field. The Coinstar remittance payment service is designed to fasten... 

The central bank on Wednesday affirmed Saigon Thuong Tin Commercial Bank (Sacombank) was operating stably with healthy financial capacity and safe capital adequacy ratio as required by the banking sector. The central bank released the above message after the information that Sacombank was facing the threat of being taken over that had bloomed on local media. The central bank asserted a few articles... 

Sacombank’s board of directors (BOD) may be dissolved to pave the way for BOD reelections if shareholders want so at a general meeting, lawyer Tran Phuong Bac at Luat Viet law firm said. This is in stark contrast to what Dang Van Thanh, chairman of Saigon Thuong Tin Commercial Bank (Sacombank), has said. Speaking to the media, Thanh implied the incumbent BOD could not be dissolved. “The BOD of... 

The Vietnam Export Import Commercial Joint-Stock Bank (Eximbank), a large shareholder of Saigon Thuong Tin Commercial Bank (Sacombank), has urged the latter to re-elect the board of directors (BOD) and supervisory board to secure benefits of investors. Eximbank holds 9.37% of Sacombank’s total chartered capital and is authorized with written documents by other shareholders owning a combined stake... 

Major international credit rating agencies Standard&Poor’s and Moody’s announced credit ratings for HCM City-based Sacombank for the first time last Friday. S&P assigned Sacombank a ‘B+’ long-term rating and ‘B’ short-term counterparty credit rating. The outlook on the long-term rating was stable, reflecting S&P’s view that Sacombank would maintain its... 

Dai-ichi Life Insurance Company of Vietnam (Dai-ichi Vietnam) has announced a strategic partnership agreement with Sacombank to sell its life insurance products through the local bank’s network. The agreement enables Dai-ichi Vietnam to work with Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) to jointly develop suitable bancassurance products for distribution via the bank’s network... 

Australia and New Zealand Banking Group (ANZ) has sold its 9.6% stake in Saigon Thuong Tin Commercial Bank (Sacombank) to Vietnam Export Import Commercial Joint-Stock Bank (Eximbank), breaking up the strategic alliance established in March 2005. Speaking in a statement on Thursday, Alex Thursby, CEO of ANZ Asia Pacific Europe and America, said: “We established our relationship with Sacombank in...