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Banking & Finance

Further suspensions at Dong A Bank

Released at: 21:04, 12/09/2015

Further suspensions at Dong A Bank

SBV continues with senior personnel changes since putting bank under special control.

by Hoai An_ Nha Nam

The State Bank of Vietnam (SBV) has decided to suspend yet another leader of Dong A Bank and appointed personnel from Vietinbank and BIDV.

Ms. Nguyen Thi Kim Xuyen, Deputy General Director of Dong A Bank, is the latest leader to be stood down, with the Director of VietinBank’s Ho Chi Minh City Branch, Mr. Nguyen Thanh Tung, taking her place.

The SBV also appointed the former Deputy Director of the Mekong Housing Bank before its merger with BIDV to the position of Deputy General Director at Dong A Bank.

It previously appointed Mr. Vo Minh Tuan, Deputy Director of its Credit Department, as Chairman of the Board of Directors at Dong A Bank for the 2010-2015 term.

The bank also has a vacant director general position, with Mr. Tran Phuong Binh having been suspended previously and the bank yet to propose a replacement to the SBV.

After putting Dong A Bank under special control in the middle of August the SBV has suspended a number of its leaders and senior staff.

One leader at SBV told VET that it is not the right time to consider easing the special control over Dong A Bank. “As the bank has showed some positive signs, however, the SBV will consider adopting certain measures to control transactions and minimize any negative impacts while creating more the conditions necessary for the business activities of the bank and its customers,” he said.

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