The Board of Directors of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has issued a decision to resign from the position of General Director and terminate the Labor Contract with Ms. Nguyen Duc Thach Diem from May 27, 2025. Ms. Diem will continue to hold the position of Permanent Vice Chairman of the Board of Directors of Sacombank for the 2022 - 2026 term.
In its announcement, Sacombank also announced information about the recruitment and appointment of Mr. Nguyen Thanh Nhung to hold the position of acting General Director of Sacombank from May 27, 2025.
Mr. Nguyen Thanh Nhung, born in 1968, graduated with a Master's degree in Finance - Banking, Bachelor's degree in Law. It is known that Mr. Nhung held the position of General Director of Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank) for the period 2014 - 2016.
According to Sacombank, Acting General Director Nguyen Thanh Nhung is a new factor at Sacombank but is a prestigious name and has a lot of experience in the finance and banking industry. With more than 30 years of experience in key areas related to banking such as accounting, legal documents, credit, and currency trading, Mr. Nhung has affirmed his operational capacity through many important positions such as Deputy General Director of Eximbank and General Director of Vietbank.
Mr. Nhung is expected to inherit the achievements he has achieved and lead Sacombank to continue to develop safely - effectively - sustainably, making steady progress on the restructuring journey, becoming the leading bank in Vietnam. Currently, all activities of Sacombank are still taking place stably, closely following the policies and plans approved by the General Meeting of Shareholders.
Previously, on May 20, Ms. Nguyen Duc Thach Diem sent a letter of farewell to all staff, announcing the completion of nearly 8 years of bank operation. Ms. Nguyen Duc Thach Diem, born in 1973 in Quang Ngai, is one of the few female CEOs in the banking industry in Vietnam. She joined Sacombank in 2002, starting as an accountant.
During more than two decades working at this bank, she has held many different roles such as credit, customer service, internal inspection - control, debt settlement and regional management and operation. Ms. Diem was appointed General Director of Sacombank in July 2017, replacing Mr. Phan Huy Khang.
Regarding business results in 2024, Sacombank's pre-tax profit reached VND12,720 billion, consolidated profit after tax was VND10,087 billion. After setting up funds, the bank still has more than VND 7,013 billion. With the total accumulated consolidated profit retained last year, Sacombank had more than VND 25,352 billion.
Regarding the business results of the first quarter of 2025, Sacombank mobilized market 1 to increase by 3.3%, reaching 33% of the plan. Lending reached 4.7%, reaching 30% of the plan. Control bad debt at 2.2%, up 0.2% due to customers affected by difficulties, the economy and real estate market have not recovered. Pre-tax profit reached VND 3,674 billion.
With the forecast of potential risks from the macro economy still existing, but with the goal of completing the restructuring journey of Sacombank as well as being ready to enter a new development stage with many new, higher goals.
Sacombank sets a pre-tax profit target of VND14,650 billion, up 15% compared to the 2024 results. It is expected that by the end of the year, total assets will reach VND 819,800 billion, an increase of 10% compared to the beginning of the year. Mobilized capital reached VND 736,300 billion (up 9%) and outstanding credit reached VND 614,000 billion (up 14%). The bad debt ratio is controlled below 2%.
