Sacombank completes streamlining under new operating model

Ho Chi Minh City-based Sacombank said it has successfully implemented a streamlined organizational structure under a new operating model, marking a key step toward completing its restructuring plan and laying the groundwork for sustainable, prudent growth.

The bank began operating under the new structure on January 22, 2026. Following the overhaul, its organization has been consolidated into nine divisions under a vertical model, with staffing between front office and back office optimized to an 80-20 ratio.

The shift allows the bank to focus more resources on core business activities, strengthen its direct sales force, and improve customer reach and service, while enhancing cost allocation and control.

At the same time, optimization of support functions is expected to accelerate the digitalization of operational processes, improve labor productivity, and reinforce internal governance.

At the network level, regional offices have been reorganized into zones, while branches and transaction offices have been restructured to increase autonomy, concentrate resources on high-potential markets, reduce intermediate layers, and enhance coordination.

The changes are expected to help Sacombank build a more flexible operating model, improve resource efficiency, and strengthen competitiveness amid rapid changes in the banking sector. They are also seen as a foundation for resolving outstanding issues and completing the bank’s restructuring plan, it stated in a release.

Leadership pushes transformation

Standing deputy CEO Ha Van Trung said the restructuring carries strategic significance.

“Streamlining the organization and shifting to a vertical model are key to completing the restructuring plan, reducing bad debts, improving net interest margins, and ensuring safety ratios, while increasing provisioning coverage,” he said.

These efforts are expected to strengthen the bank’s financial foundation and support long-term, prudent and sustainable growth.

Trung added that a leaner structure, clearer coordination mechanisms and more efficient resource allocation would enable Sacombank to better leverage its internal strengths, meet risk governance requirements, and deliver safe, efficient and sustainable development, while maximizing value for customers, partners, shareholders, and the broader community.

Brand revamp signals new phase

The restructuring comes as Sacombank rolls out broader changes aimed at enhancing its market position and brand image. The bank has recently introduced a new, more modern brand identity and appointed famous footballer Nguyen Dinh Bac as its brand ambassador.

The moves mark an early phase of reform under new leadership and reflect a more decisive management approach. They also signal a broader transformation as the bank seeks to improve operational efficiency, drive sustainable growth, and reinforce its position among Vietnam’s leading joint stock commercial banks.

The combination of a streamlined governance structure and a refreshed brand underscores what Sacombank describes as a more agile and competitive institution poised for further expansion.

Former chairman of Vietnamese private lender LPBank Nguyen Duc Thuy on December 23, 2025 assumed the role of acting CEO at Sacombank, immediately after completing the handover at LPBank.

Earlier on the day, the LPBank board of directors announced the relief of Thuy of the position of chairman due to "personal reasons" at the bank's extraordinary general meeting of shareholders (EGM) held in the northern province of Ninh Binh.

Sacombank reported a loss in Q4/2025, dragged down by a sharp rise in credit risk provisions. According to disclosures, the bank's consolidated pre-tax profit for 2025 is estimated at nearly VND7.63 trillion ($290.4 million), far below its full-year target of VND14.65 trillion approved by shareholders, meaning the bank achieved only about 52% of the year's target.