Bank receives VET Award for continued strong results in Vietnam's banking sector.
The Saigon Commercial Joint Stock Bank (SCB) has received a Vietnam Excellent Brand Award 2016.
The bank was one of 100 Award winners, presented by Vietnam Economic Times on April 8.
It reached almost all targets set in 2016. Charter capital stood at VND14.3 trillion ($630,618 million), with total assets of VND360.85 trillion ($15.9 billion) as at December 31, 2016. Customer numbers increased 37 per cent.
Its brand name is prominent in the financial market due to its positive business results, such as its capital adequacy ratio, high asset quality, low ratio of non-performing loans (NPLs), and increases in non-interest income. SCB is now ranked among the leading commercial banks in Vietnam.
It has continuously undertaken assertive measures, such as financial restructuring, consolidating its organizational apparatus supported by advanced corporate governance, gradually implementing international standards in risk management, and enhancing IT applications in management and business operations.
SCB has relentlessly promoted its advantages, leveraged opportunities, and boosted innovation in creating new value and satisfaction for customers. Its operations were highlighted by the successful investment in and application of advanced IT in 2016 to roll out new services and product packages with high security and safety as well as to strengthen corporate governance, risk management, and reporting.
It was honored as the first bank in Vietnam to secure PCI DSS - Version 3.2 certification, the latest version of information security standards regulated by the Payment Card Industry Security Standards Council.
In 2017, “SCB continues to develop modern financial services and products with advanced technology, simultaneously promoting is strengths, leveraging opportunities, and being innovative in its operations to provide customers with satisfaction and win their trust from the best services,” a representative from SCB told VET.
SCB’s status as a modern, versatile retail bank has been proven by the awards and titles it has been presented by prestigious organizations both local and overseas. These include the “Vietnam Excellent Brand Award 2015” and now 2016 from Vietnam Economics Times, “Top 10 Trusted Commercial Banks in Vietnam in 2016” by Vietnam Report, “Commercial Bank of the Year” by The European magazine, “Fastest Growing Retail Bank Vietnam” by Global Business Outlook magazine, “Best Commercial Bank 2016 Vietnam” by World Finance magazine, “Best Bancassurance Partnership Vietnam 2016” by Global Banking & Finance Review magazine, and “Best Deposit Product of the Year Vietnam” by Asian Banker magazine.