Agribank has new Deputy General Director

The Vietnam Bank for Agriculture and Rural Development (Agribank) recently held a conference to announce the Decision of the Governor of the State Bank of Vietnam (SBV) on appointing Mr. Vuong Hong Linh, Director of Agribank Dak Lak Branch, to hold the position of Deputy General Director of Agribank.

More specific information about Mr. Vuong Hong Linh's background has not been disclosed by the bank. Thus, after appointing Mr. Linh, the bank's Board of Directors currently has 9 members with the General Director being Mr. Pham Toan Vuong.

Previously, in early August, Agribank announced that Ms. Nguyen Thi Phuong, Deputy General Director, retired under the social insurance regime.

Permanent Deputy Governor of the State Bank of Vietnam Dao Minh Tu presented the Decision appointing Mr. Vuong Hong Linh to the position of Deputy General Director of Agribank.

Ms. Phuong was born in 1968, has a Master's degree in Economics. She started working at Agribank in 1992 and has held the position of Deputy General Director at this bank since June 6, 2014.

Regarding business performance, according to the consolidated financial report for the second quarter of 2024, Agribank recorded a 3.8% increase in net interest income over the same period to VND 30,832 billion.

Thanks to growth from business activities, although operating expenses increased by 5% to VND14,375 billion, the bank's net profit from business activities still increased.

During the period, the bank's credit risk provisioning expenses increased by 25% to VND11,048 billion, eroding the bank's profits. The bank reported accumulated profit after tax of nearly VND10,615 billion, down slightly by 1.8% compared to the same period.

As of June 30, 2024, the bank's total assets were recorded at VND 2.08 million billion, an increase of 1.8% compared to the end of 2023.

Of which, customer loans were VND1,590 trillion, up 2.6%. Customer deposits also increased slightly by 0.9% to VND1,830 trillion.

Regarding loan quality, the bank's total bad debt at the end of June 2024 was VND29,276 billion, up 1.9% compared to VND28,721 billion at the end of last year. Due to the increase in customer loans, the bad debt ratio decreased from 1.85% to 1.84%.

Source: https://www.nguoiduatin.vn/agribank-co-them-pho-tong-giam-doc-204240823223955486.htm