On November 02, 2012, the Board of Directors of Sai Gon Thuong Tin Commercial Joint Stock Bank (SACOMBANK) approved the resignation of Mr. Dang Van Thanh as Chairman.

- To replace Mr. Dang Van Thanh, the Board of Directors approved to elect Mr. Pham Huu Phu, Standing Deputy Chairman, as Chairman of the Board of Directors effective from November 02, 2012.