The Board of Directors of Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) recently announced its annual general shareholder meeting will be held in Viet Tri ward, Phu Tho province on 22/4.

According to Sacombank, the change in venue reflects a breakthrough in thinking and a strong, comprehensive commitment to change in governance perspective, aiming for sustainable and cautious growth and ensuring maximum benefits for customers, partners, and shareholders.

Since listing on the stock exchange 20 years ago, Sacombank has always held its annual shareholder meetings in TP HCM. In recent three years, each meeting has seen hundreds to thousands of shareholders participate, requiring multiple halls due to capacity limitations. Last year, for example, attendance reached 1,031 people.

Over 1,000 shareholders attended Sacombank's annual meeting held in 4/2025. *Photo: Sacombank*

Sacombank's upcoming annual general shareholder meeting is drawing investor attention because the bank recently appointed new leadership and implemented a series of changes in brand identity and business strategy. This also marks Sacombank's entry into the final sprint phase of its restructuring plan.

Sacombank has not yet announced the proposals for the upcoming annual general shareholder meeting. However, one of the important items to be presented to shareholders is the election of four additional Board of Directors members for the 2022-2026 term, including one independent member.

Two months ago, Sacombank appointed Nguyen Duc Thuy as Acting Chief Executive Officer shortly after he resigned as Chairman of LPBank. Several deputy chief executive officer positions also saw changes.

Last month, the bank reported a significant loss of over 3,360 billion dong in the final Quarter of 2025, marking its first quarterly loss in 9 years. For the full year, Sacombank recorded a profit of 7,628 billion dong, a decrease of over 40% compared to the previous year, and failed to meet the profit target of over 14,650 billion dong approved by shareholders.

Sacombank's leadership stated last year's business results were primarily impacted by an increase in credit risk provisioning, totaling 11,300 billion dong. The bank believes this reflects a cautious risk management approach to enhance its defensive capabilities amidst increasing market risks and ensure proactive resolution of non-performing assets.

Phuong Dong