Saigon Thuong Tin Commercial Bank, widely known as Sacombank, appointed Nguyen Duc Thuy as its Acting Chief Executive Officer on 23 December 2025.
Thuy, a former chairman of LPBank (December 2022 to end-2025), succeeds Nguyen Thanh Nhung, who had served as Acting CEO since May 2025. Nhung had held the post on an acting basis for about seven months.
RESTRUCTURING BACKGROUND
Sacombank has been in a restructuring process since the mid-2010s, when the bank absorbed a large volume of non-performing assets.
Sacombank announced the appointment on its website on 23 December 2025. The bank has not announced a timeline for the acting arrangement, but said the appointment is intended to address its priorities of reducing non-performing loans, strengthening operational management, improving net interest margins and resolving legacy issues in the final phase of its restructuring.