Wednesday , February 8 2023

Agribank has new general director

Pham Toan Vuong has been appointed general director of the state-owned Vietnam Bank for Agriculture and Rural Development (Agribank).

Before officially assuming the new position on Dec. 1, Vuong was in charge of managing Agribank’s Executive Board, which had run the lender in the two months after previous general director Tiet Van Than retired.

Vuong, an economics master’s degree holder born in 1976, has worked at Agribank for 23 years, including nearly seven years as a deputy general director.

Agribank became the third most profitable lender in Vietnam this year after its first-half profits rose 60% to VND15.08 trillion ($642.3 million). It trailed only Vietcombank, and VPBank, both of which are also state-owned.

Through November, interest charges remained the lender’s largest source of income at VND27.85 trillion, a 7% increase year-on-year.

Bad debts at Agribank have increased from 1.87% to 2.16% over the same period.

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