Two more Eximbank board members resign

By Trang Nguyen
Fri, April 7, 2023 | 9:50 am GMT+7

Eximbank has announced that it received letters of resignation from board members Nguyen Hieu and Nguyen Thanh Hung on Wednesday due to "personal reasons".

A transaction office of Eximbank. Photo courtesy of the bank.

A transaction office of Eximbank. Photo courtesy of the bank.

Nguyen Hieu and Nguyen Thanh Hung were elected to the bank's board of directors for the VII term (2020 - 2025) at the second 2021 annual shareholder meeting on February 15, 2022.

According to documents published by Eximbank, Nguyen Thanh Hung is vice chairman and deputy general director of Bamboo Capital. He was nominated by a group of shareholders including Nguyen Ho Nam, Le Thi Mai Loan, Thang Phuong JSC, and Helios Service and Investment JSC.

Nguyen Hieu is a board member at Viet Dragon Securities Corporation. He was nominated by a group of shareholders including Lafelle Limited, Education Management Holdings Limited, Tran Cong Can and Ngo Thu Thuy, chairwoman of Au Lac JSC.

Eximbank's board of directors currently has seven members with Luong Thi Cam Tu as chairwoman.

At the second 2022 extraordinary general meeting on February 14, Eximbank's shareholders approved the addition of three board members for the VII term: Le Thi Mai Loan, Pham Quang Dung and Tran Anh Thang.

Eximbank, listed on the Ho Chi Minh Stock Exchange (HoSE) as EIB, reported an after-tax profit of VND2.5 trillion ($106.78 million) in 2022, a three-time increase year-on-year.

The bank's net interest income reached VND5.59 trillion ($238.47 million), up 59% year-on-year, while profit from service activities hit VND514 billion ($21.92 million), up 19%.

Notably, the bank's risk provision expense in 2022 was only VND103 billion ($4.39 million), down 90% over the same period last year.

By December 31, 2022, Eximbank's total assets had reached VND185.05 trillion ($7.89 billion), up 11.6% compared to the end of 2021. Outstanding loans increased by 14% to VND129.2 trillion ($5.51 billion), and customer deposits increased by 8.2% to VND148.61 trillion ($6.34 billion).

Eximbank's bad debt was VND2.35 trillion ($100 million), up 4.4% year-on-year, an increase much lower than the credit growth rate. The bad debt ratio improved, decreasing from 1.96% to 1.8%.

On January 14, Japan's Sumitomo Mitsui Banking Corporation (SMBC) sold 134 million Eximbank (EIB) shares, equivalent to 10.8% of the bank's charter capital, for VND3.421 trillion ($146 million).

On March 18, 2022, the Japanese financial institution officially announced in writing the termination of its strategic alliance agreement with Eximbank. In September, a representative of SMBC in Eximbank, Vo Quang Hien, left as a member of its board of directors.

On the HoSE, Eximbank closed Thursday’s session at VND19,300 ($0.82).

Comments (0)
  • Read More
Vietnam’s parliament asks gov’t to adjust draft Investment Support Fund decree

Vietnam’s parliament asks gov’t to adjust draft Investment Support Fund decree

The government should adjust its draft decree on the Investment Support Fund, the National Assembly Standing Committee has requested.

Finance - Mon, December 23, 2024 | 6:00 pm GMT+7

Northern Vietnam province to complete site clearance for Samsung-Apple supplier Goertek next month

Northern Vietnam province to complete site clearance for Samsung-Apple supplier Goertek next month

Vietnam’s northern province of Bac Ninh aims to complete site clearance for the Nam Son-Hap Linh Industrial Park project before the Lunar New Year (Tet) Holiday, to facilitate investment of Chinese electronics giant Goertek.

Industrial real estate - Mon, December 23, 2024 | 4:54 pm GMT+7

New laws, abrupt property price surges dominate headlines in Vietnam's 2024 real estate market

New laws, abrupt property price surges dominate headlines in Vietnam's 2024 real estate market

Vietnam’s real estate landscape has shown some bright spots in 2024 on the back of three new real estate-related laws, but continued to face challenges, including supply-demand imbalance and abrupt surges in home prices.

Real Estate - Mon, December 23, 2024 | 3:52 pm GMT+7

Vietnam's major meat producer Vissan appoints new general director 

Vietnam's major meat producer Vissan appoints new general director 

The board of directors of Vietnam's leading meat producer Vietnam Livestock Corporation (Vissan) has appointed Le Minh Tuan as its new general director, succeeding Nguyen Ngoc An.

Companies - Mon, December 23, 2024 | 3:46 pm GMT+7

Major developer Phat Dat acquires first land plot after 2 years

Major developer Phat Dat acquires first land plot after 2 years

Phat Dat Real Estate Development JSC will buy a plot of land in District 3, Ho Chi Minh City for no more than VND650 billion ($25.5 million), its first land purchase since the country's bond debt crisis in late 2022.

Real Estate - Mon, December 23, 2024 | 3:34 pm GMT+7

Japan willing to help Vietnam with technology, training for nuclear power

Japan willing to help Vietnam with technology, training for nuclear power

Japan welcomed Vietnam to restart its nuclear power program and the former is willing to help the latter with its experiences, high technology, and workforce training.

Energy - Mon, December 23, 2024 | 2:35 pm GMT+7

Philippines’ Jollibee earns $7.4 mln from fried chicken in Vietnam in Apr-Sept

Philippines’ Jollibee earns $7.4 mln from fried chicken in Vietnam in Apr-Sept

The Philippines’ Jollibee Foods Corporation (JFC) earned an EBITDA (earnings before interest, taxes, depreciation, and amortization) of PDP435 million ($7.4 million) from its global fried chicken chain Jollibee in Vietnam in April-September.

Companies - Mon, December 23, 2024 | 12:35 pm GMT+7

Vietnam one of the most dynamic, important pharma markets in Southeast Asia: Sandoz exec

Vietnam one of the most dynamic, important pharma markets in Southeast Asia: Sandoz exec

Vietnam is one of the most dynamic and important pharma markets in Southeast Asia, and Sandoz, a Switzerland-headquatered global leader in generic and biosimilar medicines, has decided to invest massively in the country, said Charaf Eddine Kadri, general director of Sandoz Vietnam.

Executive Talk - Mon, December 23, 2024 | 8:36 am GMT+7

Noi Bai, Tan Son Nhat airport terminals to be completed in 2025: investor ACV

Noi Bai, Tan Son Nhat airport terminals to be completed in 2025: investor ACV

The T3 passenger terminal at Tan Son Nhat International Airport in Ho Chi Minh City will be completed by April 30, 2025, two months ahead of schedule, while the expansion of the T2 passenger terminal at Noi Bai International Airport in Hanoi is slated for completion next year.

Infrastructure - Mon, December 23, 2024 | 8:23 am GMT+7

Vietnam’s benchmark VN-Index to reach 1,400-1,420 points in 2025: broker

Vietnam’s benchmark VN-Index to reach 1,400-1,420 points in 2025: broker

The VN-Index, representing the Ho Chi Minh Stock Exchange (HoSE), may hit 1,400-1,420 points in 2025, driven by an 18% market-wide profit growth and a price-to-earnings (P/E) ratio of 12.5-13x, according to broker MBBank Securities (MBS).

Finance - Sun, December 22, 2024 | 7:52 pm GMT+7

HCMC's first metro line officially operational after nearly 2 decades

HCMC's first metro line officially operational after nearly 2 decades

The first urban railway line in Ho Chi Minh City, named Ben Thanh-Suoi Tien, officially started commercial operations on Sunday after nearly two decades of waiting.

Infrastructure - Sun, December 22, 2024 | 2:17 pm GMT+7

Vietnam's 2025 GDP to grow 6.5% on robust infrastructure investment, consumer spending recovery: VinaCapital

Vietnam's 2025 GDP to grow 6.5% on robust infrastructure investment, consumer spending recovery: VinaCapital

Domestic factors, including a ramp-up in Government infrastructure spending, a revival of the real estate market, and a recovery of consumer spending, will help sustain Vietnam's GDP growth at a circa 6.5% pace next year, in-line with the National Assembly’s official target and with 2024 GDP growth, write Michael Kokalari, chief economist at VinaCapital.

Consulting - Sun, December 22, 2024 | 2:00 pm GMT+7

Vietnam shipping, seaport stock rally driven by rosy outlook in 2025

Vietnam shipping, seaport stock rally driven by rosy outlook in 2025

Many shipping and port stocks have risen sharply since November on an optimistic outlook for the industry driven by increasing throughput and a shift in container shipping alliances in 2025.

Companies - Sun, December 22, 2024 | 10:00 am GMT+7

Singapore’s Platinum Victory seeks to raise stake in Vietnam’s REE to nearly 45%

Singapore’s Platinum Victory seeks to raise stake in Vietnam’s REE to nearly 45%

Singaporean fund Platinum Victory Pte. Ltd. has registered to buy another 16.8 million shares in Ho Chi Minh City-based utility firm Refrigeration Electrical Engineering Corporation (REE), aiming to increase its ownership to nearly 45%.

Finance - Sun, December 22, 2024 | 9:29 am GMT+7

1.8 km road connecting Lach Huyen Port terminals to be built in northern Vietnam

1.8 km road connecting Lach Huyen Port terminals to be built in northern Vietnam

The Hai Phong Economic Zone Management Board has taken a significant step forward in enhancing infrastructure around Lach Huyen Port by establishing a council to appraise the environmental impact assessment for the road connecting terminals No. 3 to No. 6.

Economy - Sun, December 22, 2024 | 8:00 am GMT+7

Hanoi TikToker internationally wanted for involving in multi-billion-dollar scam

Hanoi TikToker internationally wanted for involving in multi-billion-dollar scam

Hanoi police have issued an international arrest warrant for Le Khac Ngo, known as "Mr. Hunter," a key accomplice in a recently-dismantled massive foreign exchange and securities fraud ring.

Society - Sat, December 21, 2024 | 10:57 pm GMT+7