KienlongBank deputy general director resigns

KienlongBank has received an application from deputy general director Do Anh Tuan asking to resign from March 6 due to personal reasons.

Tuan, 48, was appointed deputy general director of KienlongBank from September 2021. He had served nearly 18 months as a senior leader of the private bank.

After Tuan resigns, the bank's management board will include one general director and seven deputy general directors.

Currently, Tuan is chairman of Sunshine Group and many other businesses in the group's ecosystem like KSFinance and Sunshine Homes.

In June 2022, he resigned as chairman of SCG Construction Group, citing he could not arrange time to take on this position due to a change in work plans.

According to KienlongBank, headquartered in Kien Giang province, southern Vietnam, there would be many innovations in the bank's governance apparatus in the coming time, with additional members for the board of directors and the supervisory board in the term 2023-2027.

In the period 2018-2022, KienlongBank made a breakthrough in profit, exceeding its target. The bank also dealt with bad debts according to a restructuring scheme approved by the State Bank of Vietnam. Its bad debt dropped sharply to less than 2%.

In 2022, the bank's net interest income reached VND2,091 billion ($88.13 million), up 8% year-on-year, and after-tax profit was VND544.5 billion ($22.95 million), down 29%.

As of December 31, 2022, KienlongBank's total consolidated assets hit nearly VND85,760 billion ($3.61 billion), up 2% compared to the end of 2021. Total capital mobilization reached VND75,843 billion ($3.19 billion). Credit balance hit more than VND45,498 billion ($1.92 billion), up 16.12% compared to 2021.

In January, KienlongBank approved a resolution to withdraw its application for listing KLB shares on the Ho Chi Minh City Stock Exchange, citing unfavorable market movements for listing and shareholder interests.

Last year, its board members Tran Tuan Anh and Nguyen Thuy Quynh Huong also resigned for personal reasons.