Sacombank’s Board of Directors appoints Mr. Nguyen Duc Thuy as Acting Chief Executive Officer

Mr. Nguyen Duc Thuy (born in 1976, Ninh Binh Province) graduated from Colorado State University (USA). Prior to entering the banking business, he accumulated leadership experience roles across of major entities in diverse industries. During period from 2006 to 2016, he served as Chairman of companies including Xuan Thanh Group, Sai Gon Xuan Thanh Football Club, Xuan Thanh Securities Company, Xuan Thanh Ha Nam and Quang Nam Cement Companies, and Kim Lien Hotel. From 2017 to 2019, he held the position of Vice Chairman of Xuan Thien Solar Power Plant and Chairman of Thaiholdings Joint Stock Company.

In April 2021, Mr. Nguyen transitioned into banking industry as Vice Chairman of the Board of Directors of LienVietPostBank (now LPBank). On December 9th, 2022, he was subsequently elected Chairman of the Board, a position he held until the end of 2025. During his tenure of more than three years, he spearheaded comprehensive restructuring initiatives, streamlined organizational structures, established a modern governance foundation, and accelerated digital transformation. These efforts yielded significant outcomes, including stable operational efficiency, marked improvements in financial indicators, and significant upgrades to the bank’s technology infrastructure.

This extensive hands-on experience is considered well aligned with Sacombank’s current strategic requirements, as the Bank enters the final phase of its restructuring programme. Key priorities include reducing the non-performing loan (NPL) ratio, strengthening operational management capacity and net interest margin (NIM), thoroughly resolving remaining legacy issues, and progressively enhancing provisioning coverage across residual portfolios.

The appointment of Mr. Nguyen Duc Thuy as Acting Chief Executive Officer is regarded as timely and well-founded, reflecting Sacombank’s strategic commitment to selecting leaders with strong governance expertise, practical experience, and decisive execution capabilities - all aimed at advancing the Bank’s objectives for prudent and sustainable development in the forthcoming period.