notes to the consolidated financial statements - Sacombank

The banking industry will continue to re-engineer its systems and processes to
international best practices and meeting the demand for seamless service delivery.
More foreign banks will enter Vietnam and new local banks will be set-up by major
business groups. These new entrants will compete with established local and foreign
banks in all market segments.
Commercial banks will accelerate their expansion plans to increasing their transaction
networks and more banking services will be developed to attract customers.
According to Sacombank analysis, the 100% foreign-owned banks will be allowed
to operate fully resulting in stiff competition.
II. INTERNAL ENVIRONMENT
▲ Strengths
Sacombank is among the most-capitalized banks in Vietnam. It also has a high profi le
in the banking sector in recent years. Sacombank’s trademark is that of a large and
unique retail network covering all cities and provinces nationwide, reliable customer
relationships and sustainable strategic partners, locally and internationally.
Sacombank staff is equipped with both skills and the right attitude to ensure that
business goals and growth potential are met.
▲ New Initiative
The banking sector as a whole has an imbalance between the supply and demand
of skilled staff. The imbalance is acutely felt in the sales function. Sacombank is
taking active steps to train its staff and to embark on a talent management initiative
whereby the best staff is retained.
▲ Products and Services Opportunity
The robust economy has led to a high level of business activities which in turn
increased the demand for banking services. A new generation of banking products
and services must be developed to meet the demand.
Since Vietnam small and medium enterprises (SMEs) uneffectively utilize banking
services, Sacombank provides seminars and forums in order to raise their awareness
Economic integration promotes closer collaboration between international and local
institutions making a trend towards joint venture investment set up.
The prestige and trademark of Sacombank are thriving well and will be maintained.
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