Bold and Brazen: Sacombank's 2025 Financial Goals Unveiled
Bank sets sights on 15% profit expansion; aims to distribute dividends for the first time in nine years
Hype city, here comes Sacombank! With a growling attitude and unapologetic swagger, they've got their eyes set on some serious dough in 2025. Here's the lowdown on their financial ambitions:
- Boss Profits: Sacombank is aiming for the big kahuna - pre-tax profits exceeding a whopping VND14.7 trillion ($532 million). That's a cool 15% more than last year, baby!
- Stacking Cash: They've got their eyes on a 9% increase in deposits, reaching VND736.3 trillion ($28.2 billion).
- Loans Outstanding: In the game to lend, they're looking at a 14% increase in outstanding loans, bringing it up to VND614.4 trillion ($23.5 billion).
- Assets on the Rise: Preparing for a growth spurt, they're planning a 10% increase in total assets to a staggering VND819.8 trillion ($31.5 billion).
- Keeping the Bad Stuff to a Minimum: They're aiming to keep their Non-Performing Loan (NPL) ratio below 2%. No slacking off on payments, folks!
These strategic moves, along with other eye-popping proposals, were all approved at their annual general meeting of shareholders in HCM City.
According to the bank's fearless leader, the doubtlessly talented Nguyễn Đức Thạch Diễm, Sacombank clobbered their targets in 2024. Total assets clocked in at over VNĐ748 trillion ($28.7 billion), up a meaty 10.9% year-on-year. Deposits and outstanding loans? Up 16.7% and 11.7%, respectively! Profit before tax? A staggering 32.6% increase and 20% above the plan!
Sacombank's 2025 annual general meeting of shareholders was attended by more than 1,000 shareholders. - Photo courtesy of the bank
Despite this success, they're not resting on their laurels. 2025 will bring nothing but challenges and, according to Diễm, it will be a make-or-break year for the bank. As they say, all Roads lead to Rome, and this year, Sacombank's aiming to reach the Eternal City in style.
Armed with their guiding motto - "Transformation, Efficiency, Sustainability" - they're full steam ahead with their digital transformation. Artificial Intelligence (AI) is their weapon of choice, and they're using it to boost productivity and customer experience. They're also tightening their belt with cost control measures, optimizing operations, expanding their tech-savvy partner ecosystem, and launching attractive, growth-driven products and services.
So there you have it - Sacombank's bold, brash, and brazen 2025 financial objectives. Are you ready to jump on board and join the ride? Let's do this thing!
Fun facts:- In the first quarter of 2025, Sacombank reported a pre-tax profit of over VNĐ3.6 trillion ($138.3 million), a 38.4% increase year-on-year, and accounting for 25.1% of their full-year target.- Since the inception of their post-merger restructuring plan, Sacombank has resolved and recovered nearly VNĐ104 trillion ($384 million) of bad debt and legacy assets, including over VNĐ76.6 trillion that was part of the plan.- They're planning to make a comeback in the dividend distribution game after a nine-year hiatus, provided they get the nod from the State Bank of Vietnam.
Nguyễn Đức Thạch Diễm, CEO of Sacombank, presents reports on the bank's 2024 business performance and plan for 2025 at the AGM.- Photo courtesy of the bank
- In pursuit of their ambitious 2025 financial goals, Sacombank is leveraging Artificial Intelligence (AI) to boost productivity and enhance customer experience.
- The bank's cost control measures and tech-savvy partner ecosystem expansion are strategic moves aimed at increasing efficiency and profitability.
- Sacombank's 2025 business strategy includes launching attractive, growth-driven products and services to appeal to a wider customer base.
- The bank's digital transformation efforts, underpinned by their motto of "Transformation, Efficiency, Sustainability," are expected to play a significant role in achieving their financial objectives.
- Sacombank's 2025 pre-tax profit target of VND14.7 trillion ($532 million) represents a proportion of VND3 trillion ($115.7 million) for the first quarter alone, underscoring the bank's commitment to its financial goals.
