Former Vietcombank boss becomes Acting General Director of PG Bank

According to the information announcement of Petrolimex Commercial Joint Stock Bank (PG Bank, stock code PGB), Mr. Oliver Schwarzhaupt resigned as Chairman of the Board of Directors of this bank due to personal wishes.

At the same time, Mr. Nguyen Phi Hung was appointed Chairman of the Board of Directors after resigning as General Director of PG Bank according to personal wishes.

In addition, Mr. Pham Manh Thang was appointed as Acting General Director of PG Bank.

Previously, Mr. Thang had many years of working at the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) as Deputy General Director until his retirement in May 2023.

Mr. Thang was born in 1962, has a PhD in Economics - Banking Academy, Applied Mathematics Engineer - Hanoi University of Science and Technology; Bachelor of Economics - National Economics University.

Mr. Pham Manh Thang was appointed as Acting General Director of PGBank, assuming the position and powers of General Director according to regulations.

PG Bank has recently undergone changes in senior personnel after its major shareholder, Petrolimex Petroleum Group, divested all its capital from the bank in early April. Specifically, Petrolimex publicly auctioned 120 million PG Bank shares at the Ho Chi Minh City Stock Exchange (HoSE). According to the auction results, all 120 million PGB shares were sold at an average price of VND21,400/share.

Recently, PG Bank also announced an adjustment to the maximum foreign ownership ratio, increasing from 2% to the highest level of 30% in accordance with regulations. Currently, foreign investors only own a total of 306,300 PGB shares, equivalent to 0.1% of outstanding shares. Thus, the foreign room at this bank is currently 29.9% empty and is one of the few banks with almost all foreign room empty.

Thai Phuong

Source: https://nld.com.vn/kinh-te/sep-cu-vietcombank-ve-lam-quyen-tong-giam-doc-pg-bank-20230703151211733.htm