Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) on Wednesday announced the official list of candidates for board of directors’ tenure 2017-21, approved by the State Bank of Vietnam.

Only six candidates were named, although there were seven names on the original list.

The list names the following:

1. Duong Cong Minh, president of Him Lam Group, former chairman of LienVietPostBank

2. Kieu Huu Dung, chairman of Sacombank

3. Nguyen Mien Tuan, vice chairman of Sacombank

4. Nguyen Xuan Vu, deputy general director of Sacombank

5. Pham Van Phong, branch director of Vietcombank in Dak Lak Province

6. Le Thi Hoa, board member of Vietcombank

The list of the four members of the supervisory board was also released, naming Tran Minh Triet, Nguyen Thi Thanh Mai, Le Van Tong and Ha Ton Trung Hanh.

Sacombank’s annual shareholder meeting will be held on June 30, 2017. It has been postponed twice earlier.

According to Sacombank’s financial reports, its non-performing loan ratio at the end of 2016 stood at 6.81 per cent of the bank’s total outstanding loans.

Many heavyweights have expressed interest in the restructuring of Sacombank, such as New York-based investment bank Evercore Group, M&A consulting firm Redsun Capital Limited and Dang Van Thanh, president of Thanh Thanh Cong Group (TTC) and founder of Sacombank.

The central bank has so far also asked Sacombank to complete its management and administrative structure, continue implementing restructuring solutions to guarantee the rights and benefits of depositors, stabilise operations and make sure its financial system is secure. — VNS