Sacombank (STB) Partners with Tax Department to Support Business Households

Overview

Sacombank (STB) has signed a cooperation agreement with the Tax Department (under the Ministry of Finance) and tax authorities in 14 provinces to deploy solutions supporting millions of business households in revenue management, e-invoicing, and tax filing. The initiative aligns with Decree 68 and aims to accelerate digital tax compliance among household businesses, a key segment for STB’s retail banking strategy.

Key Facts

• Sacombank signed the cooperation agreement on April 15, 2026, with the Tax Department and tax authorities in 14 provinces.
• The 14 provinces include Dong Nai, Lam Dong, Hanoi, Hai Phong, Bac Ninh, Ha Tinh, Hung Yen, Lang Son, Nghe An, Ninh Binh, Phu Tho, Quang Ninh, Thai Nguyen, and Thanh Hoa.
• The partnership focuses on revenue management, e-invoicing (including tax-authority-coded e-invoices and cash register invoices), and tax filing.
• Sacombank has also coordinated with tax authorities in Ho Chi Minh City, Da Nang, Khanh Hoa, An Giang, Ca Mau, and Dak Lak for promotional activities.
• The bank has deployed staff to directly advise and assist business households on-site.
• STB closed at VND 64 on April 15, 2026, down 2.57% with volume of 6.58 million shares.

What Happened

On April 15, 2026, Sacombank (STB) signed a cooperation agreement with the Tax Department and local tax authorities in 14 provinces to provide integrated solutions for business households. The event was held in hybrid format, connecting online with Sacombank branches in the participating localities.

Speaking at the ceremony, Mr. Nguyen Minh Tam, Deputy General Director of Sacombank, stated that the bank had analyzed the diverse needs of business households and developed tailored solutions based on principles of easy-to-understand processes, user-friendly equipment, simple operations, and cost optimization. Mr. Mai Son, Deputy Director of the Tax Department, highlighted that the cooperation aims to enhance the role and responsibility of tax authorities, Sacombank, and solution providers to deliver practical benefits to household businesses and the private sector.

Market Context

STB shares closed at VND 64 on April 15, down 2.57% on volume of 6.58 million shares. The stock has been under pressure amid broader market weakness, but the partnership with the Tax Department could provide a catalyst by reinforcing STB’s position in the retail and SME banking segment. Sacombank is listed on HOSE and is one of Vietnam’s largest private banks by assets.

Strategic Significance

The partnership positions Sacombank as a key banking partner in the government’s push for digital tax compliance under Decree 68, which mandates e-invoicing for business households. By offering integrated solutions for revenue management, e-invoicing, and tax filing, STB can deepen its relationship with millions of household businesses, potentially driving growth in transaction volumes, deposits, and lending. This aligns with the bank’s strategy to expand its retail and SME footprint and could improve its fee income from payment and digital services.

What to Watch

• Number of business households adopting Sacombank’s solutions in the coming quarters.
• Impact on STB’s fee income and transaction volumes from digital tax-related services.
• Expansion of the partnership to additional provinces or integration with other government platforms.
• Competitor responses from other banks offering similar tax compliance solutions.
• Regulatory updates on Decree 68 enforcement and its effect on household business formalization.