Shares of Sacombank were sold.

On April 2, trading of Sacombank’s STB shares began with a sharp drop amidst rumors of the bank’s leaders being involved in a legal case. The shares of STB plummeted significantly, almost reaching the floor level at one point, with a retreat to 29,600 VND, representing a nearly 5.7% loss. However, by the end of the morning session, the downward momentum narrowed to less than 3%.

The decline in banking stocks, particularly STB, contributed to the overall market drop, with the VN-Index losing over 10 points during the morning session. Prior to this, social media posts alleged that Mr. Duong Cong Minh, Chairman of the Board of Directors of Sacombank, was restricted from leaving the country due to his involvement in an ongoing economic case. Sacombank later denied this information and clarified that the bank’s operations were normal, with necessary measures being taken to address the situation legally.

Amidst uncertainty surrounding Sacombank’s leadership, Mr. Duong Cong Minh has continued to actively manage the bank’s affairs and ensure customer safety. He has a background in economics and previously held leadership positions in various companies before joining Sacombank. Despite rumors and speculation about his legal issues, Sacombank stressed that Mr. Minh was committed to upholding its integrity and handling any legal matters appropriately while maintaining normal business operations.

By Riley Johnson

As a content writer at newsmol.com, I dive into the depths of information to craft compelling stories that captivate and inform readers. With a keen eye for detail and a passion for storytelling, I strive to create engaging content that resonates with our audience. Whether it's breaking news, in-depth features, or thought-provoking opinion pieces, I am dedicated to delivering high-quality, informative content that keeps readers coming back for more. My goal is to bring a fresh perspective to every article I write and to make a meaningful impact through the power of words.

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