Sacombank (STB) Renames to SACOMBANK, Appoints New Acting CEO and Sets 2026 Targets

Overview

Sacombank (STB) has officially changed its name to Saigon Treasure Commercial Joint Stock Bank (SACOMBANK) following approval at its annual general meeting on April 22, 2026. The bank also appointed a new Acting General Director, Loic Faussier, and a new Permanent Vice Chairman, Nguyen Duc Thuy. Alongside these leadership changes, SACOMBANK announced its 2026 business plan targeting total assets of VND 1,010,300 billion and pre-tax profit of VND 8,100 billion.

Key Facts

• Sacombank renamed to Ngân hàng TMCP Sài Gòn Tài Lộc (Saigon Treasure Commercial Joint Stock Bank), with abbreviation changed from Sacombank to SACOMBANK.
• Loic Faussier, born 1972 in France, appointed as Acting General Director. He holds Master’s degrees in Finance from Paris Dauphine University and Business Law from Paris Institute of Political Studies.
• Nguyen Duc Thuy appointed as Permanent Vice Chairman of the Board of Directors, responsible for strategic direction and high-level governance.
• 2026 targets: total assets of VND 1,010,300 billion (+10%), total deposits of VND 921,300 billion (+10%), credit outstanding of VND 699,400 billion (+12%), pre-tax profit of VND 8,100 billion (+6%).
• Non-performing loan (NPL) ratio target kept below 4.5%.
• STB closed at VND 64 on April 15, 2026, down 2.57% with volume of 6,582,100 shares.

What Happened

At its annual general meeting on April 22, 2026, Sacombank shareholders approved a resolution to change the bank’s name from Ngân hàng TMCP Sài Gòn Thương Tín (Sai Gon Thuong Tin Joint Stock Commercial Bank) to Ngân hàng TMCP Sài Gòn Tài Lộc (Saigon Treasure Commercial Joint Stock Bank). The English abbreviation was also changed from Sacombank to SACOMBANK.

Immediately after the meeting, the Board of Directors appointed Nguyen Duc Thuy as Permanent Vice Chairman. Thuy was elected to the Board earlier that day for the 2022-2026 term. The Board also appointed Loic Faussier as Acting General Director. Faussier, a French national, holds a degree in Economics from Paris Assas University and two Master’s degrees in Finance and Business Law.

Market Context

STB trades on HOSE and closed at VND 64 on April 15, 2026, down 2.57% on volume of 6.58 million shares. The stock has been under pressure amid broader banking sector adjustments. The name change and leadership reshuffle come as the bank aims to refresh its brand and strengthen governance. The 2026 targets imply moderate growth, with pre-tax profit rising only 6% year-on-year, suggesting a cautious outlook.

Strategic Significance

The name change to SACOMBANK signals a strategic rebranding effort, possibly to distance from past association with the former Sacombank and its legacy issues. The appointment of a foreign national as Acting General Director, Loic Faussier, may indicate a push for international best practices in governance and risk management. Nguyen Duc Thuy’s role as Permanent Vice Chairman suggests a focus on long-term strategy. The 2026 targets, while showing growth, are modest compared to peers, reflecting a conservative approach amid ongoing restructuring.

What to Watch

• Q1 2026 earnings release to gauge initial performance under new leadership.
• Any further management changes or board restructuring announcements.
• Progress on NPL ratio reduction toward the 4.5% target.
• Market reaction to the name change and potential foreign investor interest.
• Updates on any strategic partnerships or capital raising plans.