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In the opening months of 2026, facing continued headwinds in the financial and banking markets, Sacombank reported a consolidated pre-tax profit for Q1 2026 of over VND 2,106 billion, reaching 26% of the full-year plan. The bank attributed the performance to a cautious management approach as it strengthens its foundations and prioritizes risk control.
As of the end of Q1 2026, Sacombank’s total assets stood at nearly VND 860 trillion. Total deposits were VND 776,335 billion, while outstanding loans were VND 626,960 billion, supporting a stable capital base.
Net interest income for the period was VND 6,042 billion, down from VND 6,863 billion in Q1 2025.
Several non-interest income lines increased year-on-year, helping offset part of the net interest income decrease:
Overall, total income from these activities increased by VND 562.8 billion year-on-year.
Operating expenses were tightly controlled at VND 3,408 billion, down by VND 519 billion from VND 3,927 billion in Q1 2025. The bank linked the improvement to better cost management, operational efficiency, and digital transformation initiatives, which it said support longer-term efficiency gains and help move the cost-to-income ratio toward its target.
Provisions for credit risk reached VND 2,024 billion, up sharply from VND 195 billion in Q1 2025. Sacombank said this reflects its focus on safe growth and strengthening internal foundations rather than pursuing short-term profit. The bank is accelerating asset-quality improvements through proactive provisioning and resolution of legacy assets to build a stronger financial buffer for sustainable growth in later periods.
Looking ahead, Sacombank said it is gradually implementing a leaner organizational structure and more efficient operations. Alongside ongoing technology deployment, improved customer experience, and a focus on core business lines, the bank expects operating performance to improve gradually in future quarters as funding costs stabilize. These steps are intended to strengthen the financial base and support Sacombank’s 2026 business goals.
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