Top-level changes do not affect banking operations

On the morning of August 26, Prosperity and Development Joint Stock Commercial Bank (PGBank - UPCoM: PGB) successfully held the 2024 Extraordinary General Meeting of Shareholders with the participation of 20 shareholders representing more than 288 million shares, equivalent to nearly 68.7% of the total number of voting shares of the bank.

Elect 2 additional independent members of the Board of Directors

The General Meeting of Shareholders approved the election of two additional independent members of the Board of Directors, Mr. Dao Quoc Tinh and Ms. Cao Thi Thuy Nga.

Mr. Dao Quoc Tinh has a Bachelor's degree in Industrial and Commercial Credit, a Master's degree in Banking and Finance, and a PhD in Economics (Banking Academy).

Mr. Tinh has 38 years of experience in the field of finance and banking and has held many important positions at the State Bank of Vietnam such as Deputy Chief Inspector and Banking Supervisor; Deputy Director in charge of the General Control Department; Deputy Director of the Transaction Office; Director of the Anti-Money Laundering Information Center...

In addition, Ms. Cao Thi Thuy Nga has a Bachelor of Finance, Master of Finance - Monetary (Academy of Finance) and has 42 years of experience in the field of finance and banking.

Introducing 2 new independent members of the Board of Directors of PGBank.

Before becoming an independent member of the Board of Directors of PGBank, Ms. Nga held the role of Deputy General Director - MBBank, Chairwoman of the Board of Directors - MB Securities Joint Stock Company and currently Ms. Nga is also a member of the Board of Directors - Vietnam Business Consulting and Connection Joint Stock Company.

At the meeting, answering a shareholder's question about how recent changes in senior personnel have affected the bank's operations, PGBank Chairman Pham Manh Thang said that the bank is currently restructuring and transforming according to the State Bank's regulations. In particular, senior personnel are the key factor for better development.

The election of two additional independent members of the Board of Directors with many years of experience in the field of Finance and Banking also aims at that.

"PGBank is implementing the transformation, during the operation process there may be many suitable or unsuitable contents. In the recent period, due to the personal needs of some leaders as well as meeting the management requirements of the bank, changes in senior personnel have taken place, which has had an impact but not a big impact on banking operations," said Mr. Thang.

PGBank plans to expand 5 branches and 4 transaction offices

Mr. Thang also said that in the coming time, the bank will train, build and develop human resources according to 3 growth directions. It will both train internal staff to promote their strengths and recruit external personnel to meet development needs.

Currently, PGBank also has several candidates for the position of General Director and is submitting them to the State Bank for consideration, ensuring full compliance with legal regulations and at the same time meeting the bank's development needs.

Mr. Thang pointed out three factors affecting the development of banks: institutions, human resources, facilities and infrastructure.

PGBank Chairman Pham Manh Thang speaks at the Congress.

Accordingly, to ensure facilities and infrastructure, PGBank's extraordinary shareholders' meeting also approved the relocation of the head office to Thanh Cong Building (Thanh Cong Tower), land lot P-D17, Cau Giay New Urban Area, Dich Vong Hau Ward, Cau Giay District, Hanoi City.

As reported in the article Movements at PGBank before the Extraordinary General Meeting of Shareholders , Thanh Cong Building was invested by Thanh Cong Group with a scale of 40 million USD and put into operation since 2020.

At the congress, talking about PGBank's operational orientation in the coming time, Mr. Tran Van Luan - Deputy General Director of PGBank informed that the bank focuses on network development to enhance brand recognition.

However, in recent times, due to the restructuring process, the scale of the bank's network and branches has not been expanded much.

With the orientation of expansion in the coming time, PGBank has asked the State Bank for permission to expand 5 new branches and 4 transaction offices.

It is expected that there will be 5 branches in Dong Anh, Thai Nguyen, Ninh Binh, Thanh Hoa, Nghe An and 4 transaction offices in Khanh Hoa, Quang Ninh, Long An, Vung Tau.

At the same time, based on the 2024 business plan, the bank will continue to apply for licenses and open new transaction locations in the coming time, bringing products and services to a large number of customers.

Regarding the business plan in the coming time, by the end of the second quarter of 2024, the bank had achieved 48.3% of the set profit target.

To be able to complete the remaining goals in the second half of 2024, Mr. Luan shared that, in addition to increasing sales and increasing loan NIM efficiency, PGBank will drastically implement measures to recover bad debts to improve profits.

"The solution to recover and handle bad debt has been planned and is expected to be effective in the last 6 months of the year. The Board of Directors is confident that it will complete the profit plan of 554 billion VND set at the previous Annual General Meeting of Shareholders," Mr. Luan emphasized.

Source: https://www.nguoiduatin.vn/chu-tich-pgbank-bien-dong-thuong-tang-khong-anh-huong-hoat-dong-ngan-hang-204240826104736889.htm