Sacombank's CASA growth drivers

Continuously in the Top 10 banks with the highest CASA, Sacombank has the advantage of low capital costs to expand credit activities, increase net interest income, and invest in developing a service ecosystem.

This becomes even more important as the market faces significant interest rate volatility and Sacombank is still in the process of restructuring.

CASA, or demand deposits, is a low-cost funding source that banks particularly focus on to optimize profits and enhance competitiveness. Not only does it improve operational efficiency, but CASA also helps banks increase their resilience to interest rate fluctuations, affirm their reputation, and achieve sustainable growth.

In recent years, Sacombank has been one of the fastest-growing CASA (Current Account Savings Account) banks and has consistently been among the leading banks in terms of CASA balances. In 2024, Sacombank recorded a CASA balance of over VND 101,948 billion, an increase of VND 8,423 billion compared to 2023 (equivalent to a 9.3% increase).

Consistently ranking in the Top 10 banks with the highest CASA (Current Account Savings Account), Sacombank has the advantage of low capital costs to expand its lending activities.

Positive CASA (Current Account Savings Account) figures, coupled with other key financial indicators, helped Sacombank achieve impressive business results. Specifically, pre-tax profit in 2024 reached VND 12,720 billion, exceeding the target set at the General Shareholders' Meeting by 20%.

The operating expense/operating income ratio (CIR) was significantly reduced, indicating that Sacombank has effectively optimized its operations and controlled costs. The ROA and ROE ratios increased by 0.2 percentage points and 1.73 percentage points respectively, reaching 1.42% and 20.03, reflecting superior management and capital utilization capabilities.

Diverse payment ecosystem: The driving force behind Sacombank's CASA (Current Account Savings Account) growth.

A large proportion of CASA (Current Account Savings Account) is typically held in current account deposits. Therefore, one of the core factors contributing to Sacombank's CASA growth is its diverse and modern ecosystem of payment methods, attracting attention and making Sacombank a frequently used account for customers. Sacombank currently offers more than 20 types of bank cards with unique features.

Typical examples include the Sacombank Platinum Cashback – a credit card line aimed at smart spenders with an attractive cashback mechanism, and the Sacombank Visa Platinum O2, the first credit card made from recycled plastic in Vietnam, representing a green and dynamic lifestyle. Particularly noteworthy are the Sacombank Mastercard Metro Pass and Sacombank Mastercard Multipass travel cards, launched during the opening of Metro Line 1 in Ho Chi Minh City, which created a sensation due to their convenience and cultural significance.

Last year, the number of Sacombank credit cards in circulation exceeded 1 million, demonstrating the popularity of the bank's card products among customers.

The Sacombank Mastercard Multipass, launched by the Ho Chi Minh City Department of Transport in collaboration with Sacombank and Mastercard, provides citizens with an additional payment option when using public transport.

In addition, Sacombank's ecosystem is also distinguished by its range of payment acceptance methods.

Sacombank's POS network has now surpassed 230,000 machines. Notably, Sacombank's QR code payment solution has become a prominent strength, favored by SMEs and household businesses due to its ability to quickly track transactions, minimize errors, and enhance management efficiency. Sacombank's QR code service has now been expanded to countries such as Laos, Thailand, and Cambodia, providing maximum convenience for customers.

Last year, Sacombank had the honor of being the first bank in Vietnam to implement multi-payment methods on a single device, ushering in an era of flexible and convenient payments. Thanks to this technical capability, Sacombank has become a partner providing open-loop payment solutions for Ho Chi Minh City's public transport system, starting with Metro Line 1 and expanding to buses and river buses.

Customers can pay using credit cards, debit cards, Apple Pay, Samsung Pay, or e-wallets, providing a seamless and modern experience.

Sacombank is the provider of open-loop payment acceptance solutions for Metro Line 1.

This ecosystem not only makes payments easier for customers but also encourages cash flow within the Sacombank system, thereby continuously increasing the bank's CASA balance.

Leading the way in implementing comprehensive service packages and attractive promotional policies.

In addition to expanding payment solutions, Sacombank also focuses on developing comprehensive product packages, making it easier for customers to access and use financial services.

Notably, Sacombank Pay, an all-in-one financial application, provides almost all of customers' financial needs, from opening accounts and cards, QR payments, money transfers, savings deposits, consumer loans, to purchasing bus or movie tickets. With its user-friendly interface and diverse features, Sacombank Pay has become an indispensable tool for millions of customers, contributing to increased service usage and maintaining cash flow within the banking system.

In addition, Sacombank designs combo packages specifically for corporate and individual customers, with simple registration and usage procedures, and regularly implements attractive promotional programs seasonally and during major holidays throughout the year. These programs not only encourage customers to use the service but also motivate them to maintain their account balances, contributing to CASA growth.

Amidst the rapidly transforming banking industry, Sacombank has demonstrated exceptional capabilities through its sustainable CASA (Current Account Savings Account) development strategy. With a diverse payment ecosystem, smart, all-inclusive products, and a focus on customer experience, Sacombank not only optimizes low-cost capital but also creates a solid foundation for long-term growth. Sacombank's journey is proof that a bank can thrive even during restructuring, delivering sustainable value to customers, shareholders, and the community.

Source: https://baodautu.vn/dong-luc-tang-truong-casa-cua-sacombank-d278503.html