Over 2023, Sacombank’s FX division played a crucial role in the bank’s strategy, according to its own records, contributing 10%-20% of its pre-tax profit. Despite global economic challenges including high inflation and geopolitical instability, Sacombank focused on supporting businesses affected by the rising USD/VND exchange rate.
With Vietnam’s import-export turnover down 6.9%, Sacombank leveraged its strong interbank position and advanced systems to offer competitive FX solutions, including low-cost forward pricing that often beat spot rates.
Thanks for your interest in Euromoney!
To unlock this article:
