•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Sacombank’s board of directors has withdrawn a proposal to extend the bank’s restructuring plan ahead of its upcoming annual general meeting (AGM).
In particular, Sacombank’s board unexpectedly withdrew proposal No. 25/2026/TT-HĐQT dated March 18, 2026, concerning an extension of the restructuring plan after the merger.
Previously, bank leaders said that while the bank had worked to implement the solutions under the plan, some items could not be completed within the scheduled timeline. The main reasons cited were challenges in handling and recovering bad debts, as well as difficulties in liquidating collateral assets tied to outstanding debts due to reliance on legal processes. Some collateral assets were described as having complex legal status, requiring additional time to complete procedures.
Rectifying remaining issues in line with audit conclusions, Sacombank said, must be linked to strengthening governance systems, processes, and organizational structure. The bank stated it would continue pushing for a comprehensive restructuring of the entire apparatus to improve operating efficiency, governance capacity, and risk management.
Accordingly, the board said it will present shareholders with a proposal to extend the implementation period of the plan until the end of 2030.
At the AGM, Sacombank will also approve several key matters. The bank plans to appoint additional board members for the 2022–2026 term, but the candidate list has not yet been announced.
In addition, Sacombank will dismiss director Ms. Nguyen Duc Thach Diem. The article notes that Ms. Diem had previously submitted her resignation and had also stopped serving as CEO since August 2025.
As of now, Sacombank’s board has seven members, with Mr. Duong Cong Minh serving as Chairman.
Another item on the agenda is a proposal to establish scholarship funds and charitable funds to support social welfare projects, poverty reduction, and knowledge development.
Sacombank said it plans to expand its partnerships, sponsorships, and contributions to both high-performance and mass sports, including building facilities, services, and sports events.
Sacombank is also seeking shareholder approval to change the bank’s name. The bank plans to rename from “Saigon Thuong Tin Joint Stock Commercial Bank” to “Saigon Tai Loc Joint Stock Commercial Bank.” The Vietnamese abbreviation is expected to change from “Sacombank” to “SACOMBANK” in English.
The board further stated that the bank’s current head office is not located in the core area of the International Financial Center in Ho Chi Minh City. It said moving the head office is necessary to align with the bank’s development direction and to raise brand recognition in the next phase.
Since late 2025, Sacombank has implemented a series of major changes. The bank recently announced a new logo and brand identity following leadership changes.
It appointed Mr. Nguyen Duc Thuy as Acting CEO from December 23, 2025, after he handed over the chairmanship of LP Bank. Mr. Thuy later became Sacombank’s CEO on March 3, 2026.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
