The former chairman of Eximbank plans to join the Board of Directors of a financial company

EVF has just announced that Mr. Nguyen Canh Anh will be elected to the Board of Directors for the 2023-2028 term.

Mr. Canh Anh, 47 years old, has more than 18 years of working experience and holds many senior management positions at large banks and financial institutions such as HSBC Vietnam, EVF, Eximbank… At EVF, he was the Director of Capital Resources from the end of 2020 to July 2023.

He will hold the position of Chairman of the Board of Directors of Vietnam Export-Import Bank (Eximbank) from the end of April 2024 to the beginning of December 2025. After resigning from the leadership position, he will still be a member of this bank’s Board of Directors until April 2026.

EVF (formerly EVN Finance) was established in 2008 with the goal of becoming the focal point for arranging and managing capital for power projects under Vietnam Electricity Group and its member units. The company’s activities gradually expanded, currently including capital mobilization, consumer lending and many operations such as debt purchase, capital contribution, bond issuance agency, asset management…

EVF’s Board of Directors currently has 5 members, of which Mr. Pham Trung Kien holds the position of Chairman. According to the extraordinary meeting documents, the company wants a structure of 6 people, of which at least 2 independent members. The addition of an independent member is expected to improve the quality of governance, objectivity in criticism and decision-making quality of the Board of Directors.

At the upcoming extraordinary meeting, EVF plans to submit to shareholders a plan to increase capital from VND 7,605 billion to a maximum of VND 8,455 billion. The proceeds are used to supplement capital to provide credit to customers.

The company also wants to increase the ownership ratio of foreign investors from 15% to no more than 50%. According to the management, many foreign investors, especially financial institutions and investment funds, have expressed interest and long-term investment orientation in EVF. However, the current foreign ownership rate is relatively limited, somewhat affecting foreign access and reducing the company’s attractiveness.

Management believes that expanding foreign room can improve stock liquidity on the stock exchange, increase the ability to mobilize capital in the future and create conditions for cooperation with foreign investors.

In the first half of the year, the company had a total income of 3,645 billion VND, an increase of 45% over the same period. Nearly VND 3,200 billion of this is interest on customer loans. The rest comes from deposit interest, debt purchases, debt securities investment… The company reported a profit after tax of 556 billion VND, an increase of 15% compared to the first 6 months of last year.