Agribank appoints a new Deputy General Director.

The Vietnam Agricultural and Rural Development Bank ( Agribank ) recently held a conference to announce the Decision of the Governor of the State Bank of Vietnam (SBV) on the appointment of Mr. Vuong Hong Linh, Director of Agribank's Dak Lak Provincial Branch, to the position of Deputy General Director of Agribank.

More specific details about Mr. Vuong Hong Linh's background have not yet been released by the bank. Thus, after Mr. Linh's appointment, the bank's Executive Board now has 9 members, with Mr. Pham Toan Vuong as the General Director.

Earlier in August, Agribank announced that Ms. Nguyen Thi Phuong, Deputy General Director, had retired under the social insurance scheme.

Permanent Deputy Governor of the State Bank of Vietnam, Dao Minh Tu, presented the appointment decision to Mr. Vuong Hong Linh, appointing him as Deputy General Director of Agribank.

Ms. Phuong was born in 1968 and holds a Master's degree in Economics . She began working at Agribank in 1992 and assumed the position of Deputy General Director of the bank on June 6, 2014.

Regarding business performance, according to the consolidated financial report for the second quarter of 2024, Agribank recorded a 3.8% increase in net interest income compared to the same period last year, reaching VND 30,832 billion.

Thanks to growth in business operations, despite a 5% increase in operating expenses to VND 14,375 billion, the bank's net profit from business operations still increased.

During the period, the bank's credit risk provisioning costs increased by 25% to VND 11,048 billion, eroding the bank's profits. The bank reported cumulative after-tax profit of nearly VND 10,615 billion, a slight decrease of 1.8% compared to the same period last year.

As of June 30, 2024, the bank's total assets were recorded at VND 2.08 trillion, an increase of 1.8% compared to the end of 2023.

Of that amount, loans to customers totaled VND 1.59 trillion, an increase of 2.6%. Customer deposits also increased slightly by 0.9% to VND 1.83 trillion.

Regarding loan quality, the bank's total non-performing loans at the end of June 2024 amounted to VND 29,276 billion, an increase of 1.9% compared to VND 28,721 billion at the end of last year. Due to the increase in customer loans, the non-performing loan ratio decreased from 1.85% to 1.84%.

Source: https://www.nguoiduatin.vn/agribank-co-them-pho-tong-giam-doc-204240823223955486.htm