Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) | APEA - Asia Pacific Enterprise Awards Asia Pacific Enterprise Awards

MASTER ENTREPRENEUR CATEGORY

Nguyen Duc Thach Diem
Chief Executive Officer


Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank)
www.sacombank.com.vn


Information about Entrepreneur
Nguyen Duc Thach Diem was appointed CEO of Sacombank in 2017 when the bank was undergoing restructuring. Her mission was to maintain the Bank’s effective business operations and create positive growth. She was also tasked with dealing with post-merger problems including bad debts and restructuring operations. Sacombank’s Board of Management was under pressure to come up with a comprehensive plan to solve outstanding issues, develop an employee retention scheme and increase cooperation among business units. One of her immediate task was to get the 19,000 employees to work together to overcome the challenges. Ms. Diem sees herself as a professional in directing people to work to achieve common goals and prioritize collective interests.

Other Interesting Facts about Entrepreneur
With her experience in management and administration, Ms. Diem and her team managed to put the restructuring plan on the right track to achieve a growth rate over the years, making Sacombank as an example of success in restructuring in Vietnam’s banking industry.

Company Achievements and Role as Entrepreneur
Ms.Diem advises the Board of Directors on the formulation of the bank’s development strategy. She also leads and directs the research and formation of development strategies and annual operating plans. In the first 2 years of restructuring, Sacombank fulfilled the key objectives of the Plan with improving business activities. As of December 31, 2019, Sacombank exceeded the targets of shareholders. The bank is among the top 6 in Vietnam with total assets of VND453,581 billion, up 11.7%. The bank also made good progress in bad debt collection and outstanding asset recovery with the bad debt ratio dropping to 1.9%. Profit before tax exceeded 20% of the target.
Vision, Mission & Future Plans
For the next two years, Sacombank’s Vision is to ensure stable growth of capital through business stimulation programmes and to continue to promote the retail segment by offering a variety of products and services in the spirit of “Simple - Friendly – Outstanding”. The bank also plans to diversify its lending portfolio and promote selective retail credit growth by focussing on existing borrowers and increase its lending to small and medium businesses.

The bank will also be focussing on restructuring its assets and liabilities by gradually reducing receivables, increasing earning assets through accelerating the process of handling collaterals and reducing accrued interests; managing daily liquidity level; reviewing and develop a more suitable funds transfer rate model to effectively support the business plans.

MASTER ENTREPRENEUR CATEGORY

Nguyen Duc Thach Diem
Chief Executive Officer

Information about Entrepreneur
Nguyen Duc Thach Diem was appointed CEO of Sacombank in 2017 when the bank was undergoing restructuring. Her mission was to maintain the Bank’s effective business operations and create positive growth. She was also tasked with dealing with post-merger problems including bad debts and restructuring operations. Sacombank’s Board of Management was under pressure to come up with a comprehensive plan to solve outstanding issues, develop an employee retention scheme and increase cooperation among business units. One of her immediate task was to get the 19,000 employees to work together to overcome the challenges. Ms. Diem sees herself as a professional in directing people to work to achieve common goals and prioritize collective interests.

Other Interesting Facts about Entrepreneur
With her experience in management and administration, Ms. Diem and her team managed to put the restructuring plan on the right track to achieve a growth rate over the years, making Sacombank as an example of success in restructuring in Vietnam’s banking industry.

Company Achievements and Role as Entrepreneur
Ms.Diem advises the Board of Directors on the formulation of the bank’s development strategy. She also leads and directs the research and formation of development strategies and annual operating plans. In the first 2 years of restructuring, Sacombank fulfilled the key objectives of the Plan with improving business activities. As of December 31, 2019, Sacombank exceeded the targets of shareholders. The bank is among the top 6 in Vietnam with total assets of VND453,581 billion, up 11.7%. The bank also made good progress in bad debt collection and outstanding asset recovery with the bad debt ratio dropping to 1.9%. Profit before tax exceeded 20% of the target.

Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank)
www.sacombank.com.vn


Vision, Mission & Future Plans
For the next two years, Sacombank’s Vision is to ensure stable growth of capital through business stimulation programmes and to continue to promote the retail segment by offering a variety of products and services in the spirit of “Simple - Friendly – Outstanding”. The bank also plans to diversify its lending portfolio and promote selective retail credit growth by focussing on existing borrowers and increase its lending to small and medium businesses.

The bank will also be focussing on restructuring its assets and liabilities by gradually reducing receivables, increasing earning assets through accelerating the process of handling collaterals and reducing accrued interests; managing daily liquidity level; reviewing and develop a more suitable funds transfer rate model to effectively support the business plans.