Loans Linked to Vingroup Ecosystem Account for Nearly 10% of Sacombank’s Loan Book
A Vietcap report following a Sacombank investor meeting says loans linked to the Vingroup ecosystem account for nearly 10% of the bank’s outstanding loans, including about 3% to 4% lent directly to Vingroup. By the end of the third quarter of 2026, Sacombank’s credit had grown 11.8% from the start of the year, while the share of corporate loans had risen.
A Vietcap report published after a Sacombank investor meeting shows that loans linked to the Vingroup ecosystem currently account for nearly 10% of Sacombank’s outstanding loans. This includes loans to Vingroup affiliates and subcontractors working on its projects; loans directly to Vingroup account for about 3% to 4% of outstanding loans.
By the end of the third quarter of 2026, Sacombank’s credit had grown 11.8% from the start of the year, up from 1.5% at the end of the first half. Vietcap attributed the acceleration to increased lending after the bank completed the first phase of its operational restructuring. Corporate loans accounted for 59.2% of outstanding loans in the third quarter, up from 50.8% in the second quarter and 47.0% at the end of 2025. The report said this reflected the bank’s shift toward serving large companies and their ecosystems; Sacombank aims for business with these customers to account for about 20% to 25% of its balance sheet over the next three to five years.
According to the report, some loans disbursed in the third quarter were exempt from the credit growth limit set by the State Bank of Vietnam. Excluding those loans, the bank’s credit growth from the start of the year was about 8% to 9%, rather than 11.8%. Sacombank believes financing infrastructure projects outside the limit could push its credit growth beyond its approved 11.5% cap to 20% or higher.
Sacombank’s net fee income rose significantly in the second and third quarters. The bank explained that commitment fees cover services such as preparing to meet customers’ future large funding needs; transfers, letters of credit and guarantees are charged separately. It expects fee income next year to remain significantly above historical levels, though it may be lower than this year’s unusually high level.
On April 24, 2026, Sacombank and Vingroup signed a comprehensive strategic cooperation agreement. Under the agreement, Sacombank will provide Vingroup, its subsidiaries, affiliates and member companies with services including project financing, payments and centralized cash management; Sacombank will also give priority to products and services within the Vingroup ecosystem.
Source: VietVance
