Nguyen Duc Vinh reappointed VPBank general director

By Trang Nguyen
Wed, August 24, 2022 | 3:32 pm GTM+7

Nguyen Duc Vinh who was selected as general director of VPBank in 2012 has been reappointed for the third five-year term until 2027.

Vinh, 64, holds a Master's degree in business administration. Before working at VPBank, he was general director of Techcombank for 12 years.

VPBank and Techcombank, listed on the Ho Chi Minh Stock Exchange (HoSE) as VPB and TCB, respectively, are leading private banks in Vietnam.

Nguyen Duc Vinh, general director of VPBank. Photo courtesy of VnEconomy newspaper.

Nguyen Duc Vinh, general director of VPBank. Photo courtesy of VnEconomy newspaper.

Currently, Vinh is also a board member of VPBank and a board member of VPBank Finance Company Limited (FE Credit).

Under Vinh's management, VPBank grew rapidly and joined the leading group of banks in the market.

In 2012, the creditor's net interest income reached VND2,967 billion ($126.54 million). In 2021, the figure exceeded VND34,300 billion ($1.46 billion).

In the first six months of 2022, the bank's net interest income and after-tax profit reached VND20,353 billion ($868.05 million) and VND12,241 billion ($522.08 million), up 11% and 1.6 times year-on-year, respectively.

On June 8, International Finance Corporation (IFC), the largest global development institution focused on the private sector in developing countries, proposed a five-year loan package of up to $225 million to VPBank.

The planned package, comprised of $150 million from IFC’s own account and mobilization of $75 million from various sources, aims to support the growth of the Vietnamese private bank’s small and medium enterprise (SME) portfolio, with a relevant focus on women-led or owned SME financing and climate-related projects.

As of December 2021, VPBank had a network of 235 branches and transaction points across Vietnam. It provides a full range of banking services across all consumer groups including retail, SME, corporate, and institutional clients.

On the HoSE, the VPB shares price hit VND31,450 ($1.34) per unit at the closing morning session on August 24.

Comments (0)
  • Read More
Trungnam Group's shortcomings a cause of power purchase deadlock: industry ministry

Trungnam Group's shortcomings a cause of power purchase deadlock: industry ministry

The Trungnam Group's “shortcomings” have led to Vietnam Electricity (EVN) stopping purchase of 40% of its Trung Nam-Thuan Nam solar farm's capacity, says a deputy minister of industry and trade.

Energy - Sun, October 2, 2022 | 11:21 pm GTM+7

Vietnam banking system's bad debts hit 1.7%

Vietnam banking system's bad debts hit 1.7%

The Vietnamese banking system's bad debt ratio remained safe at 1.7% by the end of July, the central bank says in a report sent to the National Assembly’s Economic Committee.

Banking - Sun, October 2, 2022 | 3:51 pm GTM+7

Vietnam earns $40.8 bln from agriculture, fisheries, forestry exports

Vietnam earns $40.8 bln from agriculture, fisheries, forestry exports

Vietnam earned $40.8 billion from exporting agriculture, forestry and fisheries products in the first nine months of this year, up 15.2% year-on-year.

Economy - Sun, October 2, 2022 | 2:22 pm GTM+7

70% of land for Hanoi's Ring Road 4 project ready by next June

70% of land for Hanoi's Ring Road 4 project ready by next June

Hanoi, Bac Ninh and Hung Yen authorities have committed to handing over 1,341 hectares of land, or 70%, before June 30 next year so the Hanoi Ring Road 4 project can break ground as scheduled.

Infrastructure - Sun, October 2, 2022 | 2:00 pm GTM+7

Formosa thermal power plant explosion kills worker

Formosa thermal power plant explosion kills worker

Three workers were conducting maintenance work on gas pipelines at Formosa’s thermal power plant in Ha Tinh province when an explosion occurred, killing one and severely injuring the other two.

Society - Sun, October 2, 2022 | 11:51 am GTM+7

Rules need to make public bond issuance outpace private placement: experts

Rules need to make public bond issuance outpace private placement: experts

Vietnamese regulators need to fasten and simplify legal steps to encourage public bond issuances as enterprises usually opt for private placements, say experts.

Finance - Sun, October 2, 2022 | 10:36 am GTM+7

VN-Index plunges to 30-month low

VN-Index plunges to 30-month low

Vietnam’s benchmark VN-Index fell almost 12% in September compared with August, making it the exchange's biggest one-month drop in 30 months.

Finance - Sun, October 2, 2022 | 8:47 am GTM+7

Vietnam welcomes 1.87 mln foreigners, South Koreans in the lead

Vietnam welcomes 1.87 mln foreigners, South Koreans in the lead

Vietnam welcomed 1.87 million foreign visitors in the first nine months of the year, up 16.4 times year-on-year, with South Korea and the U.S. leading the pack.

Travel - Sat, October 1, 2022 | 8:26 pm GTM+7

US firm Molex expands Vietnam facility with solar panel installation

US firm Molex expands Vietnam facility with solar panel installation

Molex, a U.S. manufacturer of electronic, electrical and fiber optic connectivity systems, has expanded its manufacturing facility in Hanoi with solar panel installation.

Industries - Sat, October 1, 2022 | 6:46 pm GTM+7

EVN, Trungnam Group hold talks on solutions for solar power usage deadlock

EVN, Trungnam Group hold talks on solutions for solar power usage deadlock

State-owned Vietnam Electricity (EVN) has asked Trungnam Group to put the 172-megawatt capacity portion without a pricing mechanism of its 450 MW solar farm in Ninh Thuan into the competitive power generation market.

Energy - Sat, October 1, 2022 | 3:54 pm GTM+7

Danish firm Spectre opens third Vietnam factory in An Giang

Danish firm Spectre opens third Vietnam factory in An Giang

Spectre, a Danish maker of functional garments for outdoor sports brands, started operating its $17 million factory in An Giang province Friday, the company’s third in Vietnam.

Industries - Sat, October 1, 2022 | 3:06 pm GTM+7

Foreign firm accountant gets death sentence in $9.6 mln corruption case

Foreign firm accountant gets death sentence in $9.6 mln corruption case

A Dong Thap province court on Friday handed a death sentence to Nguyen Trung Thanh, chief accountant of Filipino-invested Pilmico Vietnam, on corruption charges.

Society - Sat, October 1, 2022 | 2:43 pm GTM+7

Vietnam’s nation brand valued at $431 billion

Vietnam’s nation brand valued at $431 billion

Vietnam has seen the third biggest brand value gain over the course of the pandemic in absolute terms, up $184 billion year-on-year to $431 billion in 2022, says London-based Brand Finance.

Economy - Sat, October 1, 2022 | 11:22 am GTM+7

Former deputy health minister gets year off jail term

Former deputy health minister gets year off jail term

An appeals court in Hanoi has reduced the jail term for former deputy minister of health Truong Quoc Cuong to three years, one year less than sentence awarded by the court of first instance in May.

Society - Sat, October 1, 2022 | 11:05 am GTM+7

Fever cools, townhouse, villa segment turns lethargic in major cities

Fever cools, townhouse, villa segment turns lethargic in major cities

Liquidity in the townhouse and villa segment, once feverishly high in both Hanoi and Ho Chi Minh City, has been drying up in recent months.

Real Estate - Sat, October 1, 2022 | 9:50 am GTM+7

AES gets ministerial nod for 2,250 MW LNG power project in Binh Thuan

AES gets ministerial nod for 2,250 MW LNG power project in Binh Thuan

American energy corporation AES has received in-principle approval from the Ministry of Industry and Trade for its VND50,432 billion ($2.11 billion) Son My 2 LNG-to-power project in the south-central province of Binh Thuan.

Energy - Fri, September 30, 2022 | 9:24 pm GTM+7