Sacombank 'joins forces' with LPBS

Sacombank 's current headquarters in Ho Chi Minh City. Photo: STB .

Sacombank (Saigon Tai Loc Commercial Joint Stock Bank) and LPBank Securities Joint Stock Company (LPBS) have just signed a comprehensive cooperation agreement to expand cooperation in the fields of banking, securities, and asset management.

According to the agreement, the two parties will collaborate on developing financial products and services, focusing on asset management solutions for individual clients seeking long-term investment and financial planning solutions. The cooperation aims to connect banking and securities services, enabling clients to access a wider range of financial products within a single ecosystem.

Mr. Nguyen Minh Tam, Deputy General Director of Sacombank, said that the cooperation with LPBS is part of the bank's strategy to expand its financial services ecosystem and broaden its development opportunities in the coming period.

On LPBS's side, General Director Hoang Viet Anh noted that with Vietnam's per capita income now exceeding $5,000 , the demand for personal financial management is increasing and becoming more sophisticated. He believes that the cooperation between the two entities will contribute to diversifying financial solutions for clients seeking investment and asset management solutions.

As of the end of Q1/2026, Sacombank's total assets reached nearly VND 860,000 billion ; deposits reached VND 776,335 billion; and loans reached VND 626,960 billion . The bank currently has more than 535 transaction points in Vietnam, Laos, and Cambodia.

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Mr. Nguyen Duc Thuy is currently the Vice Chairman of the Board of Directors of Sacombank. Photo: LPB.

In 2026, the bank aims for a pre-tax profit of VND 8,100 billion ; total assets are expected to exceed VND 1 trillion; outstanding loans are expected to reach VND 699,400 billion or according to the credit growth limit assigned by the State Bank of Vietnam; total deposits are expected to reach VND 921,300 billion ; and the on-balance sheet non-performing loan ratio is expected to decrease to below 5%.

Recently, this bank has undergone a series of changes, from its organizational structure to its brand identity. Most recently, the bank officially changed its name from Saigon Thuong Tin Commercial Joint Stock Bank to Saigon Tai Loc Commercial Joint Stock Bank.

These changes occurred when the bank appointed Mr. Nguyen Duc Thuy to its leadership team, where he currently serves as the Permanent Vice Chairman of the Board of Directors.

At Sacombank, Mr. Thuy is implementing a series of restructuring moves. These include streamlining the bank's business structure from 12 business units to 9, and shifting the personnel structure towards strengthening the sales force.

Meanwhile, LPBank Securities Company is part of the LBank ecosystem, where Mr. Thuy had a long tenure as Chairman of the Board of Directors. This company currently has total assets exceeding 30,000 billion VND . The securities brokerage firm is also pursuing an IPO with a valuation of over 42,000 billion VND.