PGBank elects new Chairman, plans to increase charter capital to 10 trillion VND

Specifically, at the 2025 Annual General Meeting of Shareholders held in Ninh Binh, the Congress approved the structure of the Board of Directors and Supervisory Board members for the 2025-2030 term and elected personnel expected to hold the positions of Board of Directors and Supervisory Board members for the 2025-2030 term in accordance with the law and regulations in the Charter of PGBank.

Accordingly, Ms. Cao Thi Thuy Nga, an independent member of the Board of Directors of PGBank for the 2020-2025 term, will become the new Chairwoman of the Board of Directors of PGBank for the 2025-2030 term; Mr. Tran Ngoc Dung will continue to be elected as Head of the Supervisory Board of PGBank. PGBank will add more members to the Board of Directors for the 2025-2030 term.

New Chairwoman of PGBank Board of Directors Cao Thi Thuy Nga.

Ms. Nga has more than 40 years of experience in the banking sector, especially in positions that laid the foundation and built the banking foundation. She joined BIDV Bank in 1980, then held the position of Deputy Head of Credit Issuance Department of BIDV Bank. In 1992, she was one of the 5 senior officials sent by BIDV to lay the foundation for the first foreign joint venture bank in Vietnam (VID Public Bank, now Public Bank), holding the position of Chief Accountant and Head of the Human Resources Department.

In 2005, Ms. Nga joined MB Bank as Deputy General Director in charge of establishing the Retail Division, successively taking on the roles of MB brand building, network development, and management of MB Group's member companies, Chairwoman of the Board of Directors, Head of the MB Securities Supervisory Board (MBS),... She became an Independent Member of the PGBank Board of Directors from August 2024.

Also at the Congress, PGBank approved the report on operating results in 2024, term 2020-2025, and the operating orientation in 2025, term 2025-2030 of the Board of Directors.

2024 marks a remarkable turning point for PGBank in its journey of restructuring and shaping its position in the financial market. At the end of the year, the bank's total assets reached 115% of the plan (up 32% compared to 2023); outstanding loans reached 103% of the plan (up 15.8% compared to 2023); total capital mobilization reached VND 66,685 billion, completing 118% of the plan, up 33.9%, equivalent to an increase of VND 16,888 billion compared to the end of 2023; bad debt ratio reached 2.07% (down 0.5% compared to 2023); pre-tax profit reached VND 425 billion, reaching 76.8% of the plan (up 21% compared to 2023).

Over the past 5 years, PGBank's key indicators have grown strongly: total assets doubled: from 36,153 billion in 2020 to 73,015 billion in 2024; equity reached 5,166 billion VND, up 32% compared to 2020; pre-tax profit in 2024 reached 425 billion, 2 times higher than in 2020; customer loans increased by nearly 62% in 5 years (2020: 25,675 billion, 2024: 41,533 billion); bad debt ratio was well controlled, below 3%; capital adequacy ratio (CAR) maintained above 10-12%, always higher than the State Bank's standards.

PGBank has completed increasing its charter capital through the issuance of bonus shares and completing the public offering of shares to VND4,200 billion in March 2025, aiming to increase its capital to VND5,000 billion in the second quarter of 2025, and complete doubling its capital to VND10,000 billion by the end of 2025. The bank also launched a new brand image in 2024, more modern and dynamic, reflecting the spirit of innovation and integration, while promoting digital transformation: modernizing the core banking system, launching a comprehensive digital bank, and improving customer experience.

Launching the Board of Supervisors for the 2025-2030 term.

In 2025, the bank targets pre-tax profit of VND 1,001 billion, an increase of 135.3% compared to 2024; total assets of VND 91,226 billion, an increase of 24.9%, equivalent to an increase of VND 18,211 billion compared to the end of 2024; total outstanding credit of VND 48,653 billion, an increase of 17.1% compared to 2024; total mobilization of VND 78,449 billion, an increase of 17.6% compared to 2024. Bad debt on total outstanding debt is expected to be controlled below 2% in accordance with regulations set forth by the State Bank.

In the strategic orientation for the period 2025-2030, the Board of Directors aims to make PGBank one of the Top 15 joint stock commercial banks with the highest growth in operating income (TOI); increase charter capital to at least VND 20,000 billion by 2030; increase annual revenue growth by 25-30%; Cost-to-income ratio below 40%, bad debt ratio below 2%; seek domestic and international strategic shareholders; always comply with the limits and safety ratios as prescribed by the State Bank and the law.

Source: https://nhandan.vn/pgbank-bau-tan-chu-tich-du-kien-tang-von-dieu-le-len-10-nghin-ty-dong-post874946.html