Luu Trung Thai, CEO of the Military Commercial Joint Stock Bank, has been named its chairman to replace Le Huu Duc, who resigned for personal reasons after a 12-year stint.
The board of directors also approved the reduction of its membership for the 2019-24 term from 11 to 10.
Thai, 46, who has an MBA from the U.S. University of Hawaii, has worked for the bank for 26 years.
He joined the board in 2013, and became its vice chairman the same year and CEO in 2017.
Pham Nhu Anh, MB’s deputy executive officer, takes charge of the lender’s management board with the same powers and duties as CEO.
MB’s pre-tax profit last year, after a 37% rise, was VND22.7 trillion (US$961.8 million), the fourth highest after Vietcombank, Techcombank and BIDV.
It has over 20 million customers.
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