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"I have nothing to do with Truong My Lan and her trial. The verdict has been given and I am not involved in any part of it", he told shareholders at the company's annual general meeting Friday.
He suggested that the rumors might stem from personal animosity.
On April 1 some posts appeared on social media claiming that Minh was barred from leaving a country for helping Lan, the chairwoman of property developer Van Thinh Phat, with money laundering.
Sacombank immediately denied the rumor, but still the bank’s STB shares were sold in large volume the next day.
The police have confirmed that Minh was not in the list of people being banned from leaving the country.
Minh, 64, used to work for businesses under the Ministry of Defence in the 1980s-90s.
He was also the chairman of LPBank (which used to be known as LienVietPostBank) for many years.
He was also the chairman of property developer Him Lam before divesting his 15% stake in it in 2018.
He became the chairman of Sacombank in 2017. Sacombank targets profit before tax increase of 10% to VND10.6 trillion ($418 million) this year.
It also eyes a credit growth of 11% to VND535.8 trillion.
Van Thinh Phat chairwoman Truong My Lan on April 11 was sentenced to death for leading a scam that caused damages of VND677 trillion ($27 billion) to the Saigon Commercial Bank (SCB).
From 2012 to 2022 Lan, 68, and her accomplices obtained 2,500 loans and caused losses of VND677 trillion to the bank.
