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Sacombank (Saigon Thuong Tin Commercial Joint Stock Bank – STB) has continued updating documents for its upcoming annual general meeting of shareholders scheduled for tomorrow, April 22, 2026. The bank’s proposed candidate for the board is Nguyen Duc Thuy, who currently serves as acting CEO of Sacombank.
Nguyen Duc Thuy previously served as Chairman of LPBank and joined Sacombank as interim CEO on December 23, 2025. The board currently has seven members, including Chairman Duong Cong Minh and Vice Chairman Pham Van Phong. Other members are Nguyen Duc Thach Diem, Phan Dinh Tue, Nguyen Xuan Vu, and two independent members, Vuong Cong Duc and Pham Thi Thu Hang.
At the meeting, Sacombank will also present the dismissal of board member Nguyen Duc Thach Diem. Diem had previously submitted her resignation and ceased as CEO in June 2025.
The bank will consider renaming to “Saigon Tai Loc Bank.” Under the proposal, the Vietnamese abbreviation would change from “Ngân hàng Sài Gòn Thương Tín” to “Ngân hàng Sài Gòn Tài Lộc,” and the English abbreviation would change from “Sacombank” to “SACOMBANK.”
The board also notes that the current headquarters is not located in the core area of the Ho Chi Minh City International Financial Center. To align with the development strategy and raise brand visibility, relocating the headquarters is considered necessary.
The meeting will consider establishing scholarship funds and charitable foundations to participate in social welfare, poverty reduction, and knowledge development programs. The bank will also strengthen support and collaboration with both elite and mass sports by building facilities, providing services, and organizing sports events.
Notably, the board withdrew the proposal to extend the restructuring plan after the merger. The bank said that while leadership has worked to implement the plan, some items remain incomplete due to difficulties in handling and recovering bad debts and secured assets, alongside complex legal issues that require more time to complete procedures.
Regarding outstanding audit conclusions, Sacombank said it will reinforce governance, processes, and organizational structure. The bank will continue comprehensive restructuring to improve efficiency, governance, and risk control, and the board has proposed extending the plan’s implementation to the end of 2030.
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