Sacombank Partners with SJC for Gold Trade

Representatives of the Sacombank and the SJC sign the cooperation deal. (Photo:TK)

The Ho Chi Minh City-based Saigon Thuong Tin Commercial joint-stock bank (Sacombank) yesterday signed a cooperation deal with the Saigon Jewelry Company (SJC) to boost both sides’ gold trading activities.

The two sides will increase cooperation in gold trade through bank accounts, a first-ever trading service in Viet Nam, and work together to earn benefits from the local and global gold price fluctuation.

In addition, the leading gold trader in Ho Chi Minh City, SJC, will have its first gold bonded warehouse open next month to facilitate the two sides’ cooperation.

In the fist four months of this year, Sacombank obtained VND413 billion in pre-tax profit. The bank projected pre-tax profits of VND845 billion (US$52.6 million) this year.

Sacombank’s shares started trading last July at the Ho Chi Minh City Securities Trading Center, making the lender the country's largest listed company at the time and boosting Viet Nam's stock market value by 53%.

By Trong Khuong

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