Chairman Hoa Lam resigns as Deputy General Director of VietBank

The Board of Directors of Vietnam Thuong Tin Commercial Joint Stock Bank (VietBank, UPCoM: VBB) recently issued a document announcing personnel changes. Specifically, the bank dismissed Ms. Tran Thi Lam from the position of Deputy General Director at her personal request. The decision takes effect from March 26, 2023.

Ms. Tran Thi Lam has a bachelor's degree in Finance - Banking from the National Economics University. Ms. Lam has more than 30 years of experience in management and administration. Ms. Tran Thi Lam was appointed by the Board of Directors of VietBank to the position of Deputy General Director of the bank from May 19, 2023.

Ms. Lam was one of the first shareholders to contribute capital and build VietBank from its early days in 2006 with initial charter capital of 200 billion VND.

According to information on the website, after the decision to dismiss Ms. Lam, VietBank's executive board currently has 7 members, including Ms. Tran Tuan Anh as the bank's General Director and 6 Deputy General Directors: Mr. Do Khoa Hiep, Ms. Ngo Tran Doan Trinh, Mr. Nguyen Tien Sy, Mr. Pham Danh, Mr. Nguyen Trong Phuc and Ms. Pham Thi My Chi.

Finance - Banking - Chairman Hoa Lam resigns as Deputy General Director of VietBank — Ms. Tran Thi Lam ceased to hold the position of Deputy General Director of VietBank.

VietBank's most recent senior personnel adjustment was from August 2023. Accordingly, the bank's Board of Directors appointed Ms. Tran Tuan Anh to the position of General Director from August 14, 2023.

Ms. Tran Tuan Anh, born in 1976, is introduced to have nearly 25 years of experience in the field of finance and banking and has held many positions from management to operation and administration at credit institutions. From July 2023, Ms. Tran Tuan Anh joined VietBank as Assistant to the Chairman of the Board of Directors.

Regarding business performance, in 2023, VietBank recorded net interest income of nearly VND 2,000 billion, an increase of 10.4% compared to 2022.

The bank reported pre-tax net profit of more than VND812 billion, after-tax profit of VND647 billion, up 24% compared to 2022 thanks to a reduction in credit risk provisioning costs to VND111.3 billion, down 63% compared to the previous year.

As of December 31, 2023, VietBank's total assets were recorded at VND 138,258 billion, an increase of 24% over the beginning of the year.

By the end of 2023, deposits of other credit institutions at VietBank were VND 23,139 billion, an increase of 24%; customer deposits were VND 89,995 billion, an increase of 17% compared to the beginning of the year.

Regarding loan quality, at the end of the year, VietBank's total bad debt was over VND2,071 billion, down 11% compared to the beginning of the year. As a result, the bad debt ratio decreased from 3.65% at the beginning of the year to 2.56%.

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