Vietnam banks hold extraordinary shareholder meetings for management shake-up

Several Vietnamese banks have convened extraordinary general meetings of shareholders (EGMs), signalling a broader phase of management restructuring and strategic realignment as the sector prepares for a new growth cycle in 2026.

In December 2025 alone, at least four Vietnamese commercial banks announced EGMs, focusing on reshuffling senior leadership and discussing capital and financial plans for the coming period.

National Citizen Bank (NCB) held its EGM in Hanoi on Wednesday to elect a new board of directors and supervisory board for the 2025-2030 term. Bui Thanh Huong was re-elected as chairwoman, while Hoang Thu Trang was apppointed vice chairwoman.

Other members for the 2025-2030 term include Duong The Bang, Nguyen Hai Hoa, Trinh Thanh Mai, Ta Kieu Hung (the bank's CEO), Do Thu Huong, and Lam Thuy Dung. Hung, Huong, and Dung are new faces. The two latters are independent members.

The supervisory board consists of five members: Do Thi Duc Minh as head, Vu Kim Phuong, Pham Thi Hien, Le Van Quy, and Nguyen Viet Son. Hien (deputy CEO), Quy, and Son are new faces.

Previously, on Tuesday, Vietnam Prosperity Bank (LPBank) had held an extraordinary shareholders’ meeting in Ninh Binh province to address senior management changes.

LPBank’s board approved the dismissal of Nguyen Duc Thuy as chairman effective Tuesday, citing "personal reasons". On the same day, Thuy was appointed acting CEO of Sacombank.

At LPBank's EGM, the board also dismissed Nguyen Van Thuy from his position as vice chairman and Nguyen Thi Kieu Anh from the post of deputy CEO, effective Tuesday, for "personal reasons". Following Nguyen Duc Thuy’s resignation, Ho Nam Tien was appointed LPBank chairman, effective the same day, for the remainder of the 2023-2028 term.

Earlier, on Monday, Prosperity and Development Commercial Bank (PGBank) had held an EGM to appoint an additional board of directors member for the 2025-2030 term. Bui Vuong Anh, deputy chief of the executive office of Thanh Cong Group, was appointed for the position. The EGM also appointed a new supervisory board member, Chu Thi Huong - head of the internal control board at Thanh Cong Group.

Meanwhile, Viet Capital Bank (BVBank) will hold an EGM in Ho Chi Minh City on Friday. The meeting will elect a new board and supervisory board for the 2025-2030 term, with a proposed seven-member board, including one executive director, four non-executive directors, and two independent directors, and a five-member supervisory board. BVBank has not yet disclosed its list of candidates.

Beyond personnel matters, BVBank will also seek shareholder approval for its 2026-2030 development plan, targeting total assets of VND296 trillion ($11.25 billion), up from VND154 trillion, and outstanding loans of VND179 trillion ($6.8 billion), compared with the current VND92 trillion.

The bank aims to raise charter capital from VND9.5 trillion to VND14 trillion ($531.9 million), keep its non-performing loan ratio below 3%, and achieve an average return on equity (ROE) of 10%.

As part of this plan, BVBank intends to raise more than VND3.5 trillion ($133 million) in 2026 through a combination of a rights issue and an employee stock ownership plan (ESOP).

Under the rights offering, the bank plans to issue more than 320 million new shares at a price of VND10,000 ($0.38) per share, with a subscription ratio of two existing shares for one new share, raising about VND3.2 trillion ($121.7 million).

In addition, BVBank plans to issue up to 30 million ESOP shares, worth VND300 billion ($11.4 million) at par value, to employees and subsidiaries’ staff, subject to board approval.

Following the two share issues, BVBank’s charter capital is expected to rise by nearly 55% to more than VND9.9 trillion ($376.6 million).

The wave of EGMs toward the end of the year highlights a sector-wide effort to strengthen governance, restructure leadership, and refine growth strategies, as Vietnamese banks seek to bolster financial foundations and expand operations heading into 2026. năm 2026.