Dang Van Thanh, former chairman-cum-founder of Sacombank, has gotten approval from the bank’s board of directors to resign from the bank for personal and health reasons.

With the latest resolution from the bank’s board of directors, Thanh has withdrawn from all of his posts at the bank after being dismissed from the post of bank chairman last Friday.

Pham Huu Phu, vice chairman of the board of directors, has since been empowered as the acting Chairman to replace Thanh.

The resolution, which was released after a recent meeting of the bank’s board of directors, will be presented at the next shareholders’ meeting for consideration.

On Tuesday, in a written reply to the Ho Chi Minh City Stock Exchange (HoSE), Sacombank confirmed that the members of the board of directors of Sacombank, including Dang Van Thanh and his son, Dang Hong Anh, came home on Monday after working with local investigating authorities.

But Tien Phong newspaper said its source had revealed that Thanh and his wife, Huynh Bich Ngoc, on Monday left Ho Chi Minh for Hanoi on a flight without giving a reason.

All Sacombank activities are still taking place as normal, and there has been no massive cash withdrawal from the bank, said a senior official of the State Bank of Vietnam.

SBV is till monitoring Sacombank’s activities very closely, said Nguyen Hoang Minh, deputy director of the HCMC branch of SBV.

The situation looks better than what took place after the arrest of Nguyen Duc Kien in late August. “If any difficulties emerge, they will soon pass with the financial capacity of Sacombank and the support from the central bank," Minh said.