Sacombank announces senior leadership changes

Born in 1973, Ms. Diem holds a Ph.D. in Finance and Banking from the Academy of Finance. She assumed the role of CEO in 2017, coinciding with Sacombank’s official approval to implement its post-merger Restructuring Plan. This transition aimed to clearly separate governance and executive functions in line with Sacombank’s operational standards, enabling Ms. Diem to focus on shaping the Bank’s strategic direction and addressing other critical matters.

Over nearly eight years under her leadership, Sacombank underwent a remarkable transformation, with strong growth across key business metrics. From 2016 to 2024, total assets increased by over 125%, loans grew by 169%, customer deposits rose by 121%, and pre-tax profit soared from VND 156 billion to over VND 12,270 billion. Key financial ratios such as ROA, ROE, and CAR also improved significantly. CAR was consistently maintained above 9%, reaching 10.14% in 2024 - well above the State Bank of Vietnam’s 8% requirement - while ROA and ROE increased nearly 49-fold.

Ms. Nguyen Duc Thach Diem continues to serve as Permanent Vice Chairwoman of the Sacombank BOD.

Despite limited resources, Sacombank not only strengthened its business performance but also proactively resolved most of its legacy bad debts and fully met all financial obligations under the Restructuring Plan. In 2024 alone, the Bank recovered and processed nearly VND 10,000 billion in bad debts and legacy assets, bringing the cumulative total to VND 103,988 billion (including VND 76,695 billion under the Restructuring Plan). Bad debts and legacy assets under the plan were reduced by 80.5%, lowering their share of total assets from 28.1% to just 2.4%. Notably, Sacombank fully addressed VND 21,576 billion in accrued interest earmarked under the plan and made full provisions for the remaining unresolved bad debt portfolio. Accumulated retained earnings (after 2024 distribution) reached VND 25,425 billion, equivalent to 1.35 times the Bank’s charter capital.

Thanks to these achievements, Sacombank’s credit ratings have been consistently upgraded by both Fitch Ratings and Moody’s. The BOD highly commends Ms. Diem’s performance as CEO, recognizing her exceptional contributions over nearly eight years of dedicated leadership. Her strong foundation will allow her to continue making strategic contributions to the Bank’s long-term development.

Mr. Nguyen Thanh Nhung appointed as Acting CEO of Sacombank.

The newly appointed Acting CEO, Mr. Nguyen Thanh Nhung, is a seasoned and respected professional in the finance and banking sector. He holds Bachelor’s degrees in Economics and Law from the Ho Chi Minh City University of Law, as well as a Master’s degree in Finance and Banking from the Ho Chi Minh City University of Economics. With over 30 years of experience in key banking areas - including accounting, legal affairs, credit, and treasury operations - Mr. Nhung has demonstrated strong leadership in roles such as Deputy CEO of Eximbank and CEO of Vietbank. He is expected to build on Sacombank’s achievements and lead the Bank toward safe, effective, and sustainable growth as it continues its restructuring journey to become a leading bank in Vietnam. All of Sacombank’s operations remain stable and are closely aligned with the policies and strategies approved by the Annual General Meeting of Shareholders.