HCM CITY — The board of directors of Saigon Thuong Tin Commercial Joint Stock Bank (SACOMBANK) on March 3 named Nguyễn Đức Thụy the bank’s CEO, effective the same day, following approval from the State Bank of Vietnam.

The appointment comes even as SACOMBANK accelerates its restructuring, focusing on enhancing management efficiency, strengthening risk governance and reinforcing a sustainable growth foundation.

The decision reflects the board’s consistent human resource strategy, prioritising leaders who possess a blend of strategic thinking, executive resilience, comprehensive restructuring experience, and proven implementation capabilities.

Born in 1976 in Ninh Bình Province, Thụy graduated from Colorado State University in the US.

He is a seasoned executive with extensive management experience and strategic vision, having held senior leadership roles at major enterprises and financial institutions, including serving as chairman of Thaigroup, Thaiholdings JSC, Xuân Thành Securities JSC, and Kim Liên Tourism JSC, and vice chairman of Xuân Thiện DakLak (the investor of several solar power projects).

Thụy entered the banking sector in 2021 as vice chairman of LPBank, and soon became chairman.

In more than three years in the role, he led wide-ranging restructuring programmes, streamlined the organisational structure, built a modern governance platform, and accelerated digital transformation.

These efforts resulted in stable operational performance, marked improvements in financial indicators and significant upgrades to the bank’s technology system.

He concluded his tenure at LPBank last December and joined SACOMBANK as acting CEO.

Since then he has launched a series of transformative initiatives.

The organisational structure has been streamlined to nine business divisions, with the front–back staffing ratio optimised to 80:20, and a vertical industry-based operating model implemented since January 22.

These changes are aimed at enhancing operational efficiency, promoting prudent and sustainable growth and maximising benefits for shareholders, partners and customers.

The bank is focusing on resolving legacy issues like reducing the non-performing loan ratio, improving net interest margin, ensuring compliance with operational safety indicators, and strengthening provisioning coverage.

SACOMBANK has also unveiled a new logo and brand identity, along with a new brand ambassador, marking a more dynamic, professional and customer-oriented phase of development.

With extensive multi-sector corporate governance experience and practical banking leadership during restructuring periods, Thụy is expected to further refine the bank’s lean operating model, reinforce its financial foundation, perfect its governance, and lead it into a new phase of safe, efficient and sustainable growth. — VNS