PGBank is going through significant changes in personnel and leadership just days before its annual shareholder meeting. The Deputy General Director, Nguyen Thanh To, and an independent member of the Board of Directors, Nguyen Thanh Lam, both submitted their resignation letters for personal reasons. Mr. To’s resignation was effective from May 21, while Mr. Lam will join the board in October 2023.
The continuous changes in personnel began after Vietnam Petroleum Group (Petrolimex) divested all 40% of its capital contribution at PGBank. In mid-March, three new deputy general directors were appointed, including Tran Van Luan, Le Van Phu, and Nguyen Trong Chien.
After an extraordinary shareholder meeting in October 2023, Pham Manh Thang was elected Chairman of the Board of Directors and Dao Phong Truc Dai became Vice President of the bank. The bank will change its identity and name 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.