Sacombank's CASA growth drivers

This becomes even more important when the market faces many interest rate fluctuations and Sacombank is still in the process of restructuring.

CASA, or demand deposits, is a cheap source of capital that banks pay special attention to in order to optimize profits and enhance competitiveness. Not only improving operational efficiency, CASA also helps banks increase their resilience to interest rate fluctuations, affirm their reputation and develop sustainably.

In recent years, Sacombank has been one of the banks with the fastest CASA growth rate and has consistently been in the leading group in terms of CASA balance. In 2024, Sacombank recorded a CASA balance of more than VND 101,948 billion, an increase of VND 8,423 billion compared to 2023 (equivalent to an increase of 9.3%).

Continuously in the Top 10 banks with the highest CASA, Sacombank has the advantage of low capital costs to expand credit activities.

Positive CASA along with other important financial indicators help Sacombank achieve impressive business results. Specifically, pre-tax profit in 2024 reached VND 12,720 billion, exceeding 20% ​​of the plan set at the General Meeting of Shareholders.

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

Diverse payment ecosystem: The driving force behind Sacombank's CASA

A large proportion of CASA is usually in current deposits. Therefore, one of the core factors helping Sacombank grow CASA is the ecosystem of diverse and modern payment methods, attracting attention and making Sacombank a common account for customers. Sacombank currently owns more than 20 bank card lines with unique features.

Typical examples are Sacombank Platinum Cashback - a credit card line aimed at smart spending customers with an attractive cashback mechanism or Sacombank Visa Platinum O2 card, the first credit card made from recycled plastic in Vietnam, representing the trend of green and dynamic living. In particular, the Sacombank Mastercard Metro Pass and Sacombank Mastercard Multipass travel cards, launched on the occasion of the opening of metro line No. 1 in Ho Chi Minh City, have created a fever thanks to their convenience and cultural significance.

Last year, the number of Sacombank credit cards in circulation exceeded 1 million, demonstrating customer preference for the bank's card products.

Sacombank Mastercard Multipass card is deployed by the Ho Chi Minh City Department of Transport in collaboration with Sacombank and Mastercard, adding a payment method for people to choose when using public transport.

In addition, Sacombank's ecosystem also stands out for its 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 business households thanks to its ability to quickly record transactions, minimize errors and increase management efficiency. Currently, Sacombank's QR code has been expanded to countries such as Laos, Thailand and Cambodia, bringing maximum convenience to customers.

Last year, Sacombank was honored to be the first bank in Vietnam to deploy multiple payment methods on one device, opening an era of flexible and convenient payments. Thanks to this technical capacity, Sacombank became 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 with credit cards, debit cards, Apple Pay, Samsung Pay or e-wallets, providing a seamless and modern experience.

Sacombank is the unit providing payment acceptance solutions using open-loop technology for metro line 1.

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

Pioneer in implementing full-package services and attractive promotional policies

In addition to expanding payment solutions, Sacombank also focuses on developing package products, helping customers easily access and use financial services.

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

In addition, Sacombank also designs combo packages specifically for corporate and individual customers, with a simple registration and usage process, and regularly deploys attractive seasonal promotions and major festivals throughout the year. These programs not only stimulate customers to use the service but also motivate them to maintain their account balance, contributing to CASA growth.

In the context of the banking industry changing strongly, Sacombank has demonstrated its outstanding capacity through its sustainable CASA development strategy. With a diverse payment ecosystem, smart package 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 reach new heights even in the restructuring phase, bringing sustainable value to customers, shareholders and the community.

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