Sacombank Says Central Bank Has Resumed Talks on 32.5% Stake
Sacombank says the State Bank of Vietnam has resumed talks on how to handle the 32.5% stake linked to Trầm Bê. The plan still awaits regulatory approval. Sacombank’s credit growth accelerated in the third quarter of 2026, but its nonperforming loan ratio reached 5.99%, while provisioning needs and pressure on its net interest margin leave the timing of a profit recovery uncertain.
Sacombank said the new leadership of the State Bank of Vietnam has resumed talks with the bank on how to handle the 32.5% stake linked to Trầm Bê. The central bank had previously given no formal response for more than a year. In the past two to three months, it has asked Sacombank for additional documents and is preparing to seek further direction. The plan to sell the stake still awaits regulatory approval.
By the end of the third quarter of 2026, Sacombank’s outstanding loans had grown 11.8% from the start of the year, up from 1.5% at the end of June. Some loans disbursed in the third quarter were excluded from the credit growth quota set by the State Bank of Vietnam; excluding those loans, growth was about 8% to 9%. Corporate loans accounted for 59.2% of total outstanding loans, up from 50.8% in the second quarter and 47% at the end of 2025. Loans to Vingroup, entities involved in its projects and subcontractors accounted for about 10% of total outstanding loans.
Over the same period, customer deposits rose 25.4% from the start of the year to VND 775 trillion, while the share of demand deposits climbed to 18.6%. However, the bank’s net interest margin for the first nine months of 2026 was 2.52%, down 109 basis points year on year. Vietcap said substantial provisioning needs and continued pressure on the net interest margin leave the timing and pace of a profit recovery uncertain.
Sacombank said overdue loans and newly arising nonperforming loans may have peaked in the third quarter, when its nonperforming loan ratio was 5.99%. The bank revised its target for the ratio at the end of 2026 from about 4% to no more than 5%, and plans to reduce it to about 3% by the end of 2027. Some loans that have been written off are secured by real estate, and recovery may take time.
Source: VietVance
