On 3/3, the State Bank of Vietnam approved the appointment of Nguyen Duc Thuy as chief executive officer of Saigon Thuong Tin Commercial Bank (Sacombank). On the same day, Sacombank's Board of Directors issued the appointment decision, effective from 3/3.

This appointment aligns with Sacombank's accelerated restructuring plan, which aims to enhance operational efficiency, strengthen risk management, and solidify a foundation for sustainable growth. According to the bank, it reflects the Board of Directors' consistent human resources strategy, prioritizing leaders with strategic thinking, restructuring experience, and practical implementation capabilities.

Nguyen Duc Thuy serves as Sacombank's chief executive officer from 3/3. Photo: Sacombank

Born in 1976 in Ninh Binh, Nguyen Duc Thuy graduated from Colorado State University in the US. He brings many years of management experience, having held leadership positions at various businesses and financial institutions, including: Chairman of the Board of Directors of Thaigroup Group, Thaiholdings Joint Stock Company, Xuan Thanh Securities Joint Stock Company (VIX), and Kim Lien Tourism Joint Stock Company; he also served as Vice Chairman for Xuan Thien Dak Lak solar power projects.

In April 2021, he entered the banking sector as Vice Chairman of Loc Phat Vietnam Bank (LPBank), subsequently being elected Chairman of the Board of Directors on 9/12/2022. During his over three years in this role, he led restructuring efforts, streamlined operations, established a governance framework, and accelerated digital transformation. In late December 2025, he concluded his tenure at LPBank and joined Sacombank as acting chief executive officer.

Immediately upon his arrival as acting chief executive officer, Sacombank updated its logo, brand identity, and announced a new brand ambassador.

After over two months on the executive board, Nguyen Duc Thuy restructured and streamlined the bank's operations into 9 functional blocks. He adjusted the personnel structure to an 80% front-office and 20% back-office ratio and transitioned to a vertical management model, effective from 22/1. According to the bank, this transformation aims to boost operational efficiency, ensure sustainable and prudent growth, and optimize benefits for shareholders, partners, and customers.

Concurrently, Sacombank is addressing outstanding issues, reducing its bad debt ratio, improving its net interest margin (NIM), ensuring operational safety indicators, and increasing provision coverage according to its roadmap.

Quynh Trang