The Deputy General Director and independent members of the Board of Directors of PGBank both submitted a resignation letter a few days before the shareholders’ meeting.
Mr. Nguyen Thanh To, Deputy General Director of PGBank in charge of the Balance and Capital Business Division, has just submitted his resignation effective from May 21. In the application signed on April 15, Mr. To said he had worked at PGBank for more than 14 years and asked to terminate the labor contract for “personal reasons”.
One day after Mr. To signed his resignation letter, Mr. Nguyen Thanh Lam, an independent member of the Board of Directors, also resigned due to personal reasons. Mr. Lam will join the Board of Directors of PGBank from October 2023.
Personnel changes at PGBank take place right before the 2024 annual shareholder meeting, scheduled to be held this weekend.
Previously, in mid-March, the bank appointed three new deputy general directors, including Mr. Tran Van Luan, Le Van Phu and Nguyen Trong Chien.
Continuous changes in personnel took place after the Vietnam Petroleum Group (Petrolimex) divested all 40% of its capital contribution at PGBank. In the auction in April 2023, all of these shares were sold to three investors, with a total proceeds of more than 2,500 billion VND.
In October 2023, after an extraordinary shareholder meeting, Mr. Pham Manh Thang, former Deputy General Director of Vietcombank, was elected to the position of Chairman of the Board of Directors. Mr. Dao Phong Truc Dai is Vice President of the bank.
Mr. Dai was born in 1975, and once represented the group of shareholders of Thanh Cong Group when holding the position of member of the Board of Directors at the Export-Import Bank (Eximbank).
At the end of 2023, PGBank will change its identity and name the bank to Prosperity and Development Joint Stock Commercial Bank.
This year, PGBank targets total net revenue of more than 2,000 billion VND, an increase of nearly 50% last year. Pre-tax profit is expected to reach 554 billion, an increase of nearly 60%. Total assets of this bank are expected to increase by more than 14%, reaching more than 63,500 billion VND.