Sacombank CEO suddenly leaves the "hot seat" after 8 years of association

On May 20, Ms. Nguyen Duc Thach Diem - General Director of Saigon Thuong Tin Commercial Joint Stock Bank ( Sacombank , stock code: STB) - sent a letter to the Board of Directors, management staff and all employees, officially saying goodbye after nearly 8 years with the bank.

In the letter, Ms. Diem called this "a farewell" to close a nearly decade-long journey full of challenges but also many impressions at the bank. "I have lived, dared to do, and devoted myself to the journey of restructuring, recovery and strong growth of Sacombank," she shared.

Ms. Nguyen Duc Thach Diem (Photo: STB)

After nearly 8 years as CEO of the bank, Ms. Diem said she appreciates the process of working with the bank's team, from executive meetings to daily coordination activities. She will continue to participate with the Board of Directors in the next phase.

Ms. Nguyen Duc Thach Diem, born in 1973, is introduced as a PhD in Finance - Banking, with more than 18 years of experience in the field of economics - finance - banking. Joining Sacombank since 2002, she has held many positions in functional departments, branches and regions, was appointed Deputy General Director in 2014 and Acting General Director in July 2017.

During her tenure as executive, she participated in the restructuring of Sacombank and handled post-merger issues.

Despite holding a high executive position for many years, Ms. Diem only owns a modest amount of STB shares. According to the 2024 management report, she currently holds 76,320 shares, equivalent to more than 3 billion VND at the current market price. This is considered a low level of personal ownership compared to many other bank leaders in the same industry.

Regarding the first quarter business results, Sacombank recorded pre-tax profit of VND3,674 billion, up 38.4% over the same period last year. Total operating income increased by 13.4%, reaching nearly VND7,800 billion, mainly due to the even growth from both net interest income and non-interest income sources.

The cost of credit risk provisioning decreased sharply by 71.2% to VND195 billion - the main factor driving the profit growth in the period. However, the first quarter financial report also recorded some fluctuations such as increased personnel costs in the context of a decrease in the number of employees, a loss of VND104 billion from other activities and a slight increase in the bad debt ratio to 2.51%.

By the end of March, the bank's total assets reached more than VND757,000 billion. Outstanding loans reached more than VND564,000 billion, while customer deposits increased to nearly VND586,000 billion.

Source: https://dantri.com.vn/kinh-doanh/ceo-sacombank-bat-ngo-roi-ghe-nong-sau-8-nam-gan-bo-20250521114829663.htm