Sacombank proposes to handle the person who spread false information and defame the Chairman of the Board of Directors

According to Sacombank, at the 2022 Annual General Meeting of Shareholders on April 25, a male shareholder questioned the board of directors about banking operations and dividend issues.

Sacombank believes that many contents presented by this shareholder at the Shareholders' Meeting are not really accurate and do not comply with legal regulations.

Sacombank said that the bank's business operations have been continuously profitable since 2017. The accumulated retained consolidated profit up to 2022 is VND12,672 billion.

Sacombank's failure to pay dividends is in accordance with the State Bank's decision regarding a bank that is undergoing restructuring.

Currently, Sacombank's management is making efforts to soon complete the Bank Restructuring Project as approved by the Government and the State Bank to request the State Bank to soon approve dividend payment to shareholders. All profits are still there.

Immediately after the clip of shareholders questioning Sacombank's leaders was spread on social networks, some people took advantage of it to defame the honor of Chairman of the Board of Directors Duong Cong Minh, distort Sacombank's activities, and affect the image and reputation of the bank and its leaders.

*Chairman Duong Cong Minh. (Photo: Sacombank)* .

The bank has a written request to the competent authority for handling according to the provisions of law.

At the recent General Meeting, after shareholders questioned the issue of dividend distribution, Mr. Duong Cong Minh, Chairman of Sacombank's Board of Directors, said that he is the largest shareholder. He himself contributed the most capital and also wanted to pay dividends. However, the condition for receiving dividends is to successfully restructure. And the bank needs time to do this.

According to Mr. Minh, the final deadline is 2023. He hopes that the bank will make efforts this year to be able to pay dividends at the next year's General Meeting.

Mr. Minh also said that the bank has submitted plans for dividend payment and capital increase. However, all will have to wait for approval from the State Bank.

Shareholders are looking forward to dividends, but are still angry . The bank's shareholder meeting season is heated with the issue of dividends. "We haven't received dividends for 7-8 years. You keep talking in circles. You go straight to the point: will we pay dividends or not?.... We contribute money for you to spend and then don't give you a penny."

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