Saigon Thuong Tin Commercial Joint Stock Bank (a.k.a Sacombank) is one of the first commercial banks established in Ho Chi Minh City in 1991. Starting with a charter capital of only VND 3 billion, operating mainly in suburban districts with monotonous business scope, Sacombank had since then implemented many right decisions, creating the foundation for development in the later stages. After more than 14 years of operation, Sacombank is one of the joint stock commercial banks with the largest chartered capital in Vietnam, increasing from VND 190 billion in 2001 to nearly VND 1900 billion in March 2006. The bank operates in over 100 transaction branches spreading from the North to the South, with the staff roll of 2,659 people and 6,700 agencies belonged to 200 banks in 80 countries around the world.
“Before, to submit and get approval for a form took the whole day. Now, it only takes 1-2 minutes. Another benefit of rolling out the online approval process is cost and storage saving.” – Nguyen Thanh Hai, Research and Solution Advisory Department.