In an announcement this afternoon, Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank, stock code: STB) stated that shareholders or groups of shareholders holding 5% or more of the total shares as of 15/1 are eligible to nominate or be nominated for election to the board of directors. Nominees must meet Sacombank's charter standards and receive approval from the State Bank of Vietnam.

Sacombank is accepting nominations for board members until 6/2. The supplementary election will be held at this year's annual general meeting of shareholders.

As of mid-12/2025, Sacombank had no shareholder owning over 5% after the Finnish investment fund PYN Elite Fund reduced its stake to 4,86%. Duong Cong Minh, the bank's chairman of the board of directors, ranked second with a direct ownership of 3,32% of the capital.

Sacombank currently has seven board members, led by Chairman Duong Cong Minh. Nguyen Duc Thach Diem, one of the remaining six members, submitted her resignation mid-last year. However, as the bank has not yet convened a general meeting of shareholders to approve her dismissal, Diem remains a board member.

Sacombank is currently undergoing significant changes in its senior leadership. On 23/12/2025, the bank announced the appointment of Nguyen Duc Thuy as acting general director, following his resignation as chairman of LPBank. Nguyen Thi Kieu Anh, a deputy general director from LPBank, also joined Sacombank in a similar role.

Nguyen Duc Thuy and Sacombank's new logo. *Photo: Phuong Dong*

Two days later, Sacombank rebranded its corporate identity. The bank also appointed Deputy General Director Ha Van Trung as permanent deputy general director, and promoted Vu Minh Quan from director of the debt resolution center and assistant to the chairman of the board of directors to deputy general director.

On the day Thuy joined Sacombank, the bank's board of directors passed a resolution appointing Duong Cong Minh as the representative for civil transactions, engagements with state agencies, and legal proceedings. The bank stated this decision aims to "ensure the rights and obligations of Sacombank, its customers, and partners during the period of organizational restructuring and legal representation."

Sacombank's stock has experienced significant fluctuations over the past month. Today, STB closed at its ceiling price of 62.100 VND, with no sellers and nearly 2 million units of buy orders remaining at the end of the session. The bank's market capitalization reached a record high of over 117.000 billion VND.

Phuong Dong