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Sacombank Financial Group makes its debut   2008-05-17 - Bloomberg


Saigon Thuong Tin Commercial Joint-Stock Bank, or Sacombank, became the Sacombank Financial Group Friday.



It has a chartered capital of more than VND5.2 trillion (US$322 million), assets of VND79.915 trillion ($4.94 billion) and 6,500 employees.

Sacombank, the only bank listed on the Ho Chi Minh Stock Exchange, will be the nucleus of the group, which has subsidiaries and strategic partners.

The six strategic partners are Saigon Thuong Tin Investment Joint Stock Company; Saigon Thuong Tin Real Estate Joint Stock Company, or Sacomreal; closed end fund VietFund Management Company; Toan Thinh Phat Architecture Investment Construction Joint Stock Company; Tan Dinh Import Export Joint Stock Company; and University of Yersin, Dalat.

The HCMC-based bank last year won the “Best Bank – Vietnam 2007” award from Euromoney and “Vietnam Retail Bank of the Year 2007” award from Asian Banking and Finance.

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