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Sacombank, officially Saigon Thuong Tin Joint Stock Bank (STB), updated its AGM documents, removing the extension request for the restructuring plan after the merger. On 20 April, Sacombank withdrew proposal 25/2026/TT-HĐQT dated 18 March 2026 regarding extending the restructuring after the merger, and proposal 26/2026/THĐQT dated 18 March 2026 regarding the approval of other matters within the shareholders’ meeting authority. Previously, according to the proposal, the bank’s leadership said that although it had strived to implement the measures under the restructuring plan, some items could not be completed on schedule, mainly due to difficulties in handling and recovering bad debts, and in dealing with collateral assets for non-performing loans, which depend on the legal process. Some collateral assets have complex legal statuses that require more time to finalize procedures. Addressing these outstanding issues must be linked to strengthening governance, procedures, and the organizational structure. Sacombank said it would continue pushing ahead with a comprehensive restructuring of its management to improve operating efficiency, governance, and risk control. Accordingly, the Board proposed to extend the implementation period of the plan to the end of 2030. Separately, the Board also submitted proposals to establish scholarship funds and charitable funds to actively participate in social welfare programs, poverty alleviation, and knowledge development. It also aims to strengthen sponsorship and contributions to high-performance and mass sports in building facilities, services, and events. At this AGM, the bank will vote to appoint additional members to the Board of Directors for the 2022-2026 term. The candidate list has not been disclosed yet. The bank will also dismiss Ms. Nguyen Duc Thach Diem from the Board. The current Board has seven members, with Mr. Duong Cong Minh serving as Chairman. On the morning of 21 April, STB shares rose to the ceiling price of VND 68,800 per share.
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