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RETAIL BANKING | Cesar Tordesillas, Vietnam

ACB, Eximbank Vietnam undergo personnel changes

The Executive Board of the Asia Commercial Bank has accepted the resignation of its three members, Chairman Tran Xuan Gia for health reason and Vice Chairmen Le Vu Ky and Trinh Kim Quang for personal reasons.

According to the ACB, the three approved the authorisation for 19 ACB employees to deposit VND 718 billion VND or US$34 million with Vietinbank by Ly Xuan Hai, who was then CEO of ACB.

The ACB Executive board selected Tran Hung Huy as the new chairman and Julian Fong Loong Chon and Luong Van Tu as vice chairmen.

Meanwhile, over at the joint stock Eximbank Vietnam, Chairman Le Hung Dung has also accepted the resignation of its Vice Chairman Pham Trung Cang for personal reason.

Cang represented a group of ACB shareholders who owned less than 10 percent of Eximbank’s total equities.

Chairman Dung suggested the resignation was related to Cang’s approval of a deposit violation by former ACB CEO Ly Xuan Hai, who was arrested last month.

He added that the resignation, which awaits approval from the State Bank of Vietnam, would have little impact on the bank’s operation as it had other competent executive members.

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