Vietnam’s Eximbank approved on Thursday the resignation of its chief executive officer, the second personnel change in less than a month at one of the country’s ten biggest lenders by assets.
Pham Huu Phu has stepped down for personal reasons, with his deputy, Tran Tan Loc, appointed to the interim job the same day, Eximbank said in a statement.
The resignation came only 16 days after deputy CEO Nguyen Thuc Vinh also asked to step down of his own accord, exactly one year after taking the post.
Eximbank, full name Vietnam Export-Import Bank, is scheduled to hold a shareholder general meeting on December 15 to elect a new board of directors.
Phu had previously been listed among the nominees for a board position, but withdrew at the time of his resignation.
Two Japanese candidates are in line, Yasuhiro Saitoh and Naoki Nishizawa, who represent Japan’s Sumitomo Mitsui Banking Corporation, which is the lender’s strategic investor.
The Vietnamese bank’s current chairman Le Hung Dung has also refused to run for a new term.
In August it was rumored that Dung had been arrested over the troubled operations of Eximbank, but the State Bank of Vietnam, the country’s central bank, eventually quashed the rumour.
In October the central bank launched an inspection into Eximbank, but did not find any serious issues or impropriety.
The problems within Eximbank did not cause any negative impact on the operations of the bank itself, as well as the banking system in general, VnEconomy reported on October 22, citing the inspection results.
The lender was therefore not placed under special supervision as rumored, according to the economic newswire.
Eximbank is 15.07 percent owned by Sumitomo Mitsui Banking Corporation, following a US$225 million deal clinched in 2007
The bank posted a post-tax profit of VND525 billion ($23.44 million) in the Jan-Sep period, dropping 28.5 percent from a year earlier, according to VnExpress.
The lender’s total assets also slumped to VND127 trillion ($5.67 billion) from VND161 trillion ($7.19 billion) earlier this year.
As of July 2014, Eximbank was Vietnam’s tenth-biggest lender with total assets worth VND132.06 trillion ($5.92 billion).
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Vietnam’s Eximbank CEO resigns, fortnight after despanuty’s exit
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