PGBank Undergoes Personnel Changes and Name Change Amidst Financial Challenges
In recent days, PGBank has experienced significant changes in its personnel as the Deputy General Director and independent members of the Board of Directors have submitted their resignation letters. The resignation of Mr. Nguyen Thanh To, who was responsible for the Balance and Capital Business Division, took effect on May 21. His reason for leaving was personal reasons. Meanwhile, Mr. Nguyen Thanh Lam, an independent member of the Board of Directors, also resigned for similar reasons. These changes come just before the 2024 annual shareholder meeting scheduled for this weekend.
In mid-March, PGBank appointed three new deputy general directors, including Mr. Tran Van Luan, Le Van Phu, and Nguyen Trong Chien. These changes were prompted by the Vietnam Petroleum Group (Petrolimex) divesting all 40% of its capital contribution at PGBank.
Following an extraordinary shareholder meeting in October 2023, Pham Manh Thang was elected Chairman of the Board of Directors while Dao Phong Truc Dai became Vice President of the bank. The bank will undergo a name change to Prosperity and Development Joint Stock Commercial Bank by the end of 2023.
PGBank aims to achieve a total net revenue of over 2,000 billion VND this year with pre-tax profit expected to reach 554 billion VND and total assets anticipated to increase by more than 14%, reaching over 63,500 billion VND. Despite these challenges, PGBank remains committed to delivering value to its customers and stakeholders alike.
