In March 2023, Sacombank was also named “Vietnam’s Best Forex Bank 2023” by Global Banking & Finance Review (UK) due to its large market share, high trading volume, diverse products, wide network, abundant liquidity, flexible hedging solutions, competitive pricing policy and professional sales team.
Sacombank’s strengths include abundant foreign currency liquidity, multi-currency settlement capabilities, an extensive trading network in Vietnam, Laos and Cambodia, and a modern, safe and secure technology platform, allowing it to meet all its customers’ trading needs in spot, forward, swap and option trading in a timely manner, at competitive rates, with flexible and easy procedures. In 2022, Sacombank served the financing needs of 200,000 small and medium-sized enterprises across Vietnam, providing a total of more than US$18 billion in foreign currency transactions and excellent incentives.
Sacombank is continuously investing in technological development, especially in online trading solutions aimed at improving and enhancing customer experience in banking in general, and foreign exchange trading in particular. Typically integrated with internet banking and mobile banking systems, online FX programs support online pricing with globally connected price sources, so exchange rates are updated in real time. Sacombank can also close customers on agreed exchange rates and notify them when the exchange rate reaches their desired level. This is one of the solutions that will help with import and export payments at a time when Vietnam’s import and export trade is experiencing a positive growth trend.
Thanks to its synchronized and effective strategy, Sacombank’s FX business has grown strongly over the years, making it one of the leading banks in terms of trading volume and profits in this field in the Vietnamese market.