Sacombank aims for comprehensive digital transformation and becomes a leading retail bank in 2022 - 2026

The meeting agreed that the number of members of the Board of Directors for the term 2022 - 2026 is 7 members, including: Mr. Duong Cong Minh - Chairman of the Board of Directors, Mrs. Nguyen Duc Thach Diem - Permanent Vice Chairman of the Board of Directors, Mr. Pham Van Phong - Vice Chairman of the Board of Directors, Mr. Phan Dinh Tue - Member of the Board of Directors, Mr. Nguyen Xuan Vu - Member of the Board of Directors, Mr. Vuong Cong Duc - Independent Member of the Board of Directors Mrs. Pham Thi Thu Hang - Independent member of the Board of Directors. At the same time, the General Meeting also elected 4 full-time members of the Board of Supervisors for the term 2022 - 2026 including: Mr. Tran Minh Triet - Chief of the Board of Supervisors, Mr. Nguyen Van Thanh - Member of the Board of Supervisors, Mrs. Ha Quynh Anh - Thanh Member of the Board of Supervisors and Mr. Lam Van Kiet - Member of the Board of Supervisors.

Chairman of the General Meeting of Shareholders of Sacombank 2021.

Mr. Duong Cong Minh - Chairman of Sacombank's Board of Directors said, he believes that the Board of Directors, the Board of Supervisors, and the Board of Management of Sacombank for the new term 2022 - 2026 will manage and administer the Bank to complete the Plan and achieve the following expected goals.

By the end of 2021, Sacombank's profit was 12,660 billion dong, after setting up risk provisions and allocating expenses for the Restructuring Plan, pre-tax profit reached 4,400 billion dong, 10% higher than the plan; total assets reached over VND 521,000 billion, up nearly 6%, of which profitable assets increased by 8.9%; charter capital 18,852 billion dong; total mobilized capital is more than VND 464,500 billion, of which nearly 97% comes from economic organizations and residents; total credit balance is more than 388,200 billion dong, up 14%; the number of customers reached 10 million (a sharp increase in the group of digital customers); bad debt ratio pulled down to 1.47%; Safety indicators ensure regulatory compliance. Sacombank also recovered nearly 14,100 billion dong of bad debts and outstanding assets, of which nearly 11,800 billion dong were under the scheme, exceeding the target set by the general meeting of shareholders; Currently, Sacombank still continues to collect according to the schedule and will recover more than VND8,000 billion.

Introducing Sacombank's Board of Directors and Board of Supervisors for the term 2022 - 2026

2021 is also the year to remark 5 years of Sacombank's post-merger Restructuring Plan, accumulated for 5 years from 2017 to 2021, Sacombank has recovered and processed more than VND 58,300 billion of the project's items, reaching nearly 68% of the overall plan to 2025. As a result, the scale of net profit decreased by 73.7%, the proportion of outstanding assets decreased from 29.3% to 8%, the ratio of bad debt on the balance sheet decreased from 6.81 % down to 1.47% compared to 31/12/2016.

In the context of strong economic changes, Sacombank also sets high expectations in the next 5 years (2022 - 2026) with the goal of becoming a leading retail bank with comprehensive digital transformation through a variety of technology solutions across all key activities. Starting from the hinge year 2022, Sacombank plans to accelerate the settlement of bad debts and remaining outstanding assets and soon complete the Restructuring Plan ahead of time; In addition, financial ratios are expected to grow by 10-20%, total assets will increase to VND 573,500 billion, total capital mobilization is VND 512,700 billion, total credit balance will be VND 435,000 billion, profit before tax will reach VND 5,280 billion (up 20%), controlling bad debt below 2%.

Shareholders participate in the discussion

At the end of the first quarter of 2022, Sacombank's pre-provision profit before the scheme reached more than 4,400 billion dong, after making provision for risks and allocating expenses according to the scheme, profit before tax reached 1,589 billion dong; total assets 552,551 billion dong, total deposit 496,372 billion dong, total credit outstanding 413,314 billion dong, bad debt ratio is at 1.24%.