The hot seat of General Director at Sacombank has been replaced

Information from Saigon Thuong Tin Commercial Joint Stock Bank ( Sacombank ) said that the Board of Directors of this bank has approved the decision to dismiss Ms. Nguyen Duc Thach Diem from the position of General Director and recruit and appoint Mr. Nguyen Thanh Nhung as Acting General Director.

Mr. Nguyen Thanh Nhung has just been appointed as Acting General Director of Sacombank. Photo: Sacombank

According to Sacombank, although she has resigned as General Director, Ms. Nguyen Duc Thach Diem will continue to hold the position of Permanent Vice Chairman of the bank's Board of Directors.

Ms. Nguyen Duc Thach Diem was born in 1973 and has a PhD in Business Administration from the Academy of Finance. She assumed the position of General Director in 2017, when Sacombank was officially approved to implement the post-merger restructuring project. This was to separate the management and operations in accordance with Sacombank's operating criteria, while also creating conditions for her to focus on building a development strategy and implementing many other important issues of the bank.

In nearly 8 years under Ms. Diem's ​​management, Sacombank has made a spectacular comeback with impressive growth in business indicators. Specifically, in the period 2016 - 2024, total assets increased by more than 125%, loans increased by 169%, total mobilization increased by 121%, pre-tax profit increased from 156 billion VND to more than 12,270 billion VND. The indicators of return on assets (ROA), return on equity (ROE), and capital adequacy ratio (CAR) have improved significantly, of which, CAR is maintained stably at over 9% and reaches 10.14% in 2024 (higher than the 8% level prescribed by the State Bank), ROA and ROE increased 49 times.

Ms. Nguyen Duc Thach Diem has been managing Sacombank for nearly 8 years. Photo: Sacombank

Despite limited resources, Sacombank has not only consolidated its business performance but also actively handled most of its outstanding debts and fulfilled all financial obligations under the Project. The revenue from recovery and handling of bad debts and outstanding assets in 2024 was nearly VND 10,000 billion, increasing the cumulative figure to VND 103,988 billion (under the Project of VND 76,695 billion). Bad debts and outstanding assets under the Project decreased by 80.5%, reducing the proportion of total assets from 28.1% to 2.4%. In particular, Sacombank has completed the handling of all VND 21,576 billion of expected profits under the Project and set aside 100% of the provision for the entire portfolio of outstanding debts that have not been handled. Accumulated retained earnings (after distribution in 2024) reached VND 25,425 billion, 1.35 times the charter capital.

With the position of General Director, Mr. Nguyen Thanh Nhung, this is a new factor at Sacombank but is a prestigious name and experienced in the finance - banking industry. Mr. Nhung has a bachelor's degree in economics , a bachelor's degree in law from Ho Chi Minh City University of Law, a master's degree in finance and banking from Ho Chi Minh City University of Economics. With more than 30 years of experience in key areas related to banking such as accounting, law, credit, currency trading, Mr. Nhung has affirmed his management capacity through many important positions such as Deputy General Director of Eximbank and General Director of Vietbank.

The bank's Board of Directors emphasized that all of Sacombank's activities are still taking place stably, closely following the policies and plans approved by the General Meeting of Shareholders.

Thuy Linh

Source: https://congthuong.vn/ghe-nong-tong-giam-doc-tai-sacombank-da-co-nguoi-thay-the-388779.html