HCM CITY — Saigon Treasure Commercial Joint Stock Bank (SACOMBANK) and LPBank Securities Joint Stock Company (LPBS) are set to create a seamless financial services ecosystem, enabling customers to access banking and securities services and wealth management solutions through a unified platform.

The agreement they signed for the purpose in HCM City on June 3 focuses especially on the development of comprehensive wealth management solutions for both their affluent and priority customers, a segment with growing demand for long-term financial planning, diversified asset allocation, and strategic investment advice.

Speaking at the signing ceremony, Nguyễn Minh Tâm, deputy CEO of SACOMBANK, said: “The financial market is evolving rapidly, requiring institutions to collaborate proactively to deliver greater value to customers.

“Partnering with LPBS is a strategic step for SACOMBANK in building a more integrated and synchronised financial ecosystem, enhancing customer experience and service efficiency while creating new growth opportunities.”

Hoàng Việt Anh, CEO of LPBS, said: “With Việt Nam’s per capita income now exceeding US$5,000, the country is entering a new era of personal financial demand, driving increasingly sophisticated wealth management needs.

"The partnership between SACOMBANK and LPBS enables us to provide the most comprehensive financial solutions for this growing premium customer segment.”

With total assets of VNĐ918 trillion (US$35 billion), deposits of VNĐ837 trillion ($32 billion) and outstanding loans of VNĐ626 trillion ($24 billion) last year, SACOMBANK ranked among Việt Nam's 10 largest banks by assets.

It ranks 336th in the latest Banking 500 report by Brand Finance, which evaluates the world's most valuable banking brands, highlighting its growing brand strength and international competitiveness.

It has a network of more than 535 branches in Việt Nam, Laos and Cambodia in addition to four subsidiaries offering a suite of financial services.

LPBS grew strongly since 2023 to break into the top 10 securities firms by capital size.

At its 2026 annual general meeting, it unveiled an ambitious target of 160 per cent increase in profit for the year. It also announced plans to launch an initial public offering in the second quarter of 2026.

The partnership is likely to create new growth opportunities for both organisations. — BIZHUB