Portrait of Vietcombank General Director Nguyen Thanh Tung

On January 30, 2023, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) held an extraordinary general meeting of shareholders in 2023. At the meeting, Vietcombank approved the election of an additional member of the Board of Directors for the 2018-2023 term, Mr. Nguyen Thanh Tung, and approved the plan to increase charter capital from the remaining profit in 2021 and the remaining accumulated profit up to the end of 2018. After the meeting, Vietcombank held a ceremony to announce the Decision to approve the Deputy Secretary of the Party Committee and appoint the General Director of Vietcombank. Accordingly, Vietcombank announced the decision to approve the position of Deputy Secretary of the Vietcombank Party Committee for the 2020-2025 term for Mr. Nguyen Thanh Tung. At the same time, the Board of Directors of Vietcombank appointed Mr. Nguyen Thanh Tung to the position of General Director from January 30, 2023. Mr. Tung was born in 1974 in Hanoi, with a Master's degree in Banking and Finance. In 1997, Mr. Tung started working at Vietcombank as an officer of the international credit department at the head office. In August 2001, Mr. Tung became the secretary of the Executive Board, then in April 2002, he became the secretary of the Board of Directors of Vietcombank. In November 2004, he also held the position of Deputy Chief of Office. In February 2008, he became Chief of Office of Vietcombank. Since June 2013, Mr. Tung has held the following positions: Deputy Director of the Transaction Office branch; Acting Director of the Tay Ho branch; Director of the Tay Ho branch; Director of the corporate customer department at the head office; Director of the wholesale department and Director of the corporate customer department at the head office; Deputy General Director in charge of the wholesale department.

From August 2021 to present, Mr. Tung has been Deputy General Director in charge of Vietcombank's Executive Board.

In 2022, Vietcombank successfully completed the plan targets. The bank's capital mobilization in the first market reached ~1.26 million billion VND, up 9.1% compared to 2021, reaching 100% of the 2022 plan. The average proportion of demand capital mobilization (CASA) reached 34%, up 1.8 percentage points compared to 2021 (equivalent to about 428 thousand billion VND - the champion of CASA in the system). Wholesale capital mobilization grew by 10.4%; retail capital mobilization grew by 8.0% compared to 2021. Credit growth exceeded 1.15 million billion VND, up 19% compared to the end of 2021, controlled within the growth rate assigned by the State Bank. Wholesale credit grew by 18.5%; Retail credit grew by 19.4% compared to 2021. Group 2 outstanding loans were VND 3,289 billion, the group 2 debt ratio was 0.29%, down 0.08 percentage points compared to 2021 (0.36%). Total bad debt outstanding was VND 7,662 billion with a bad debt ratio of 0.67%, significantly lower than the assigned plan. Risk reserve fund balance was VND 35,603 billion; The on-balance sheet bad debt provision ratio reached the highest level in the banking system (about 465%). International trade-commercial turnover reached about 135 billion USD, up 31.8% compared to 2021; Market share reached 18.5%, up 3.11 percentage points compared to 2021. Foreign exchange trading turnover reached about 73 billion USD, up 20.4% compared to 2021. The targets of card sales, insurance, and wholesale-retail customer development all achieved impressive growth results from 37% to 100%. Non-interest income increased by 9.2% compared to 2021, completing 108.7% of the 2022 plan; Net foreign exchange trading revenue grew by 31.7% compared to 2021, completing 124% of the 2022 plan; Off-balance sheet debt recovery reached VND 2,393 billion, completing about 80% of the 2022 plan. The bank's individual pre-tax profit increased by 39% compared to 2021 and reached 119% of the 2022 plan. NIM reached 3.51%, up 0.24 percentage points compared to 2021. ROAA and ROAE indexes remained high, at 1.84% and 24.25%, respectively. Vietcombank continues to be the listed enterprise with the largest capitalization scale on the stock market, entering the Top 100 listed banks with the largest capitalization scale in the market in 2022 according to Reuter.

According to Market Pulse