Unexpected move of 'tycoon' Vu Van Tien at Geleximco and ABBank

Mr. Vu Van Tien left the position of Chairman of the Board of Directors of Geleximco Group and took on the position of Chairman of ABBank.

Mr. Vu Van Tien - Photo: GELEXIMCO

Geleximco Group has just announced Decision No. 1641/2025 issued on November 11, 2025 on the decision to appoint Mr. Vu Van Hau to the position of Chairman of the Board of Directors and General Director of the Group. Mr. Hau was the Deputy General Director and member of the Board of Directors of this Group.

Previously, Geleximco's Board of Directors also decided to establish the Group's Founding Council, with Mr. Vu Van Tien - former Chairman of the Board of Directors and General Director of the Group - as Chairman of the Founding Council.

In this position, Mr. Vu Van Tien will accompany the Board of Directors and the group's leadership to implement the group's strategic directions and directions.

Mr. Vu Van Hau is the younger brother of Mr. Vu Van Tien. In 2015, Mr. Hau and a number of shareholders contributed capital to establish HTL Vietnam Real Estate Investment, Construction and Trading Joint Stock Company (HTL Vietnam). The company had an initial charter capital of VND 570 billion, of which Mr. Vu Van Hau contributed 15%. At that time, Mr. Hau was the legal representative and Chairman of the Board of Directors of HTL Vietnam. Currently, the company has a charter capital of VND 600 billion.

According to the latest published report, HTL Vietnam recorded a profit after tax of more than 45 billion VND in the first half of 2024, an increase of 48% over the same period in 2023. Equity is at 1,168 billion VND. Total assets are about 2,523 billion VND.

At the same time Geleximco announced the information, the Board of Directors of An Binh Commercial Joint Stock Bank (ABBank) also announced a resolution to adjust senior personnel positions.

Accordingly, Mr. Vu Van Tien takes on the position of Chairman of the Board of Directors and Mr. Dao Manh Khang is Vice Chairman of the Board of Directors. Mr. Vu Van Tien will focus on strategic orientation, leadership and comprehensive, regular direction of the bank's operations.

Geleximco, formerly known as Hanoi General Import-Export Company Limited, was established in 1993 with an initial charter capital of 3 billion VND. This group currently has a charter capital of 10,900 billion VND, operating in many fields from industrial production, real estate, banking and finance, and trade and services. In 2023, the enterprise achieved 73.8 billion VND in profit after tax, an increase of nearly 12% over the previous year.

As of December 31, 2023, Geleximco's equity reached VND 12,295 billion, an increase of nearly VND 780 billion over the same period. The return on equity (ROE) was 0.6%. The debt-to-equity ratio was 1.52 times. Therefore, the total assets of the enterprise at the end of 2023 reached about VND 30,983 billion.

According to self-introduction information, Geleximco's annual revenue is over 20,000 billion VND, total assets 80,000 billion VND.

Recently, Geleximco won the auction for more than 38.5 million shares of Vietnam Electronics and Information Technology Corporation (Viettronics) for more than VND2,562 billion. This price is nearly 2.7 times higher than the starting price. Geleximco said that participating in the auction of Viettronics shares is to realize the goal of developing the technology sector, especially semiconductor chip technology.

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Source: https://tuoitre.vn/dong-thai-bat-ngo-cua-dai-gia-vu-van-tien-tai-geleximco-va-abbank-2025111416105852.htm