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Day: October 16, 2024

Saigon Thuong Tin Commercial Bank: Vietnam Stock Overview

In 2015, Sacombank merged with Southern Commercial Bank, the latter known as Phuong Nam in Vietnamese, which was in distress without about 50 percent of its debts considered bad at the time. This merger had a huge impact on Sacombank’s business performance in the period from 2016 to 2023 as it needed to set aside provisions for, as well as process, these bad debts. However, most of that assets have now been handled…

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