Sacombank denies information that Mr. Duong Cong Minh is banned from leaving the country

Sacombank has just sent a document to the Central Propaganda Department, the Ministry of Public Security, the Ministry of Information and Communications, and press agencies about the Facebook page named "Thang Dang" which has repeatedly posted fabricated information and slandered Sacombank's leaders.

The information that Mr. Duong Cong Minh was banned from leaving the country is fabricated.

Sacombank affirmed that this information is completely fabricated and slanderous to defame Sacombank's leaders and requested that the authorities handle it according to the law.

Specifically, last night, on the Facebook page named "Thang Dang" posted news that Mr. Duong Cong Minh - Chairman of the Board of Directors of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) - was banned from leaving the country for participating in money laundering for Ms. Truong My Lan - Chairman of the Board of Directors of Van Thinh Phat Company - and some other information.

"Sacombank affirms that the above information is completely fabricated and slanderous to defame Sacombank's leaders. Mr. Duong Cong Minh - Chairman of Sacombank's Board of Directors - is completely unrelated to the Van Thinh Phat case and is not banned from leaving the country as spread by the Facebook page named "Thang Dang", Sacombank's document affirmed.

In the document, Sacombank also said that the Facebook account named "Thang Dang" has repeatedly posted fabricated and slanderous news about Sacombank's leaders.

Along with the document sent to the Central Propaganda Department, Ministry of Public Security, Ministry of Information and Communications, and press agencies, this afternoon, Sacombank also issued a press release denying the above baseless news.

Investors and shareholders are advised to be careful with rumors.

“We have also taken necessary measures to handle the situation in accordance with the law as well as prevent acts of posting false information, distorting and defaming the reputation and honor of Sacombank's leaders and affecting the image, brand and reputation of the bank's operations,” the statement said.

At the same time, Sacombank also confirmed that Chairman of the Board of Directors Duong Cong Minh is still directly managing the work at Sacombank.

The bank is still providing financial services to customers, maintaining effective business operations and ensuring safety ratios according to regulations.

Abundant assets and liquidity, completely unaffected by the above rumor.

“Through this incident, Sacombank hopes that investors, shareholders and customers will be cautious with unverified rumors and only receive information from official press channels and reputable news sites,” the bank advised.

It is known that Mr. Dang Tat Thang used to be a senior leader at FLC Group and Bamboo Airways. However, Mr. Thang left FLC and Bamboo Airways after Mr. Duong Cong Minh's side took over the airline.

At Sacombank's 2023 Annual General Meeting of Shareholders, a shareholder questioned Sacombank's Board of Directors about not paying dividends for many years despite the bank's continuous large profits over the years.

Responding to shareholders, the Chairman of the Board of Directors and General Director of Sacombank explained the reason for not paying dividends yet because the bank is still making efforts to soon complete the Bank Restructuring Project as approved by the Government and the State Bank. After the successful restructuring, the bank will be approved by the State Bank to pay dividends to shareholders from the retained profits of previous years.

However, there was a post on the Facebook page "Thang Dang" afterwards: "Banking is the most profitable anywhere in the world, but if shareholders do not receive dividends for 7 years, then the Chairman of Sacombank is truly incompetent, and to me, he is also an immoral person...".

In response to the above statements, on May 5, 2023, Sacombank sent an official dispatch to the Hanoi Department of Information and Communications requesting consideration and resolution of the incident because it seriously offended the honor and image of the Chairman of the Board of Directors and leaders of Sacombank.