Former LPBank chairman becomes acting Sacombank CEO
Major leadership changes have taken place at two Vietnamese banks, Sacombank and LPBank. The shifts follow a series of high-level resignations and dismissals, alongside a significant divestment by a key shareholder. Both institutions are now under new interim leadership as restructuring efforts continue.
Nguyen Duc Thuy, a Colorado State University graduate with experience leading multiple businesses, stepped down as chairman of LPBank. His resignation, attributed to personal reasons, came after serving as vice chairman from April 2021 and later as chairman from December 2022. Ho Nam Tien was promptly appointed as his replacement.
Thuy then moved to Sacombank, assuming the role of acting CEO immediately after his handover at LPBank. His arrival coincided with the dismissal of Nguyen Thi Kieu Anh, who was removed from her position as deputy CEO of Sacombank on December 23, 2025, in Ho Chi Minh City. The changes at Sacombank come as the bank prepares to finalise a decade-long restructuring. A key step involves divesting a 32.5% stake currently held by a group linked to Tram Be, the bank’s former vice board chairman. Additionally, PYN Elite has fully divested its holdings, ending its status as a major shareholder in Sacombank.
With Thuy now leading Sacombank and Tien at the helm of LPBank, both institutions face a period of transition. The restructuring at Sacombank, including the planned divestment of Tram Be’s stake, marks a critical phase in its long-term recovery. The leadership changes signal a shift in direction for both banks as they move forward.
