Although resigning from the position of Chairwoman of the Board of Directors, Ms. Tran Thi Thu Hang will continue working at KienlongBank as a member of the Board of Directors.

According to the decision of the Board of Directors, Mr. Tran Ngoc Minh, Vice Chairman of the Board of Directors, General Director, was elected to hold the position of Chairman of the Board of Directors. Mr. Tran Hong Minh, Deputy General Director, holds the position of Acting General Director.

Ms. Tran Thi Thu Hang was once known as the youngest bank chairwoman in Vietnam after being elected Chairwoman of KienlongBank in May 2021 at the age of 36.

Tran Thi Thu Hang
Ms. Tran Thi Thu Hang: Photo: KLB.

KienlongBank also announced information about the planned organization of an extraordinary general meeting of shareholders (AGM) to promptly meet the requirements under the Law on Credit Institutions 2024.

The last registration date for existing shareholders to exercise their right to run for election, nominate and attend the 2024 Extraordinary General Meeting of Shareholders of KienlongBank is August 26, 2024.

According to the published document, KienlongBank plans to hold an extraordinary General Meeting of Shareholders in October 2024 online to submit to shareholders for approval the regulations on organization and operation of the Board of Directors, Board of Supervisors; internal governance regulations of KienlongBank and other related contents.

At this extraordinary congress, KienlongBank will also change the structure, number, and elect additional independent members of the Board of Directors and the Supervisory Board for the 2023-2027 term.

Not only KienlongBank, many other banks will also hold extraordinary shareholders' meetings in 2024 when the Law on Credit Institutions officially takes effect, such as VIB, MBBank (June 2024); PGBank (July 2024) or LPBank (expected August 2024).

Previously, on April 26, 2024, KienlongBank successfully held the 2024 Annual General Meeting of Shareholders. The meeting also unanimously approved key business targets for 2024 with total assets expected to reach VND 90,000 billion. Credit growth is expected to reach VND 60,000 billion. Pre-tax profit is expected to reach VND 800 billion. The bad debt ratio is maintained at the permitted level of below 3%.

By the end of the first quarter of 2024, KienlongBank recorded a pre-tax profit of nearly VND 213 billion, bringing in VND 171 billion in after-tax profit. With the achieved results, this bank has completed 27% of the annual plan set out at the 2024 General Meeting of Shareholders.