Nam A Bank has new chairman

Tran Ngo Phuc Vu, standing vice chairman of Nam A Bank, was appointed the private bank's chairman on Friday.

Vu, 50, has nearly 30 years of experience in the financial and banking sector. At Nam A Bank, he was general director from 2013 to 2015. In 2014, he became a board member and in 2019 standing vice board chairman.

Nam A Bank's extraordinary general meeting of shareholders in 2022 also elected five other board members, namely Tran Ngoc Tam (board member cum general director), Vo Thi Tuyet Nga (board member cum deputy general director), Nguyen Duc Minh Tri (director of retail banking), Nguyen Thi Thanh Dao, and Le Thi Kim Anh.

Meanwhile, two sons of late businesswoman Tran Thi Huong (Tu Huong) left the bank's board of directors. Nguyen Quoc Toan resigned as chairman, while his younger brother, Nguyen Quoc My, also withdrew from the board.

Tu Huong founded the famous Hoan Cau Group in the field of real estate and tourism. Her family has also invested in the banking sector as a major shareholder in Nam A Bank. According to the bank's latest governance report, Nguyen Quoc Toan and his relatives owned a 13% stake of Nam A Bank.

Toan was appointed chairman of the bank in 2014, unexpectedly left the position a year later, but returned in 2016. His predecessor was sister Nguyen Thi Xuan Loan. His brother My was chairman in the 2008-2011 period.

Nam A Bank, which officially came into operation in 1992, is one of the first joint stock commercial banks established after the Banking Ordinance was issued in 1990.

In the first nine months of 2022, the creditor recorded a consolidated pre-tax profit of VND1,855 billion ($78.68 million), up 30% year-on-year, fulfilling 82% of the year's plan.

Recently, the bank successfully issued nearly 190 million shares to pay dividends to shareholders, thereby increasing its charter capital by VND1,900 billion to more than VND8,640 billion ($366.5 million).