PGBank’s Recent Resignations Amid Transformation Lead to Financial Goals Achievement

PGBank has recently experienced a wave of resignations from key personnel just days before its annual shareholder meeting. On April 15, Deputy General Director Nguyen Thanh To submitted his resignation, citing personal reasons for leaving the bank where he had worked for over 14 years. This was followed by the resignation of independent member of the Board of Directors, Nguyen Thanh Lam, also for personal reasons. These changes in personnel come as the bank prepares for its 2024 annual shareholder meeting this weekend.

The continuous changes in personnel at PGBank began after Vietnam Petroleum Group (Petrolimex) divested all 40% of its capital contribution at the bank in mid-March. In response to this development, the bank appointed three new deputy general directors, including Tran Van Luan, Le Van Phu, and Nguyen Trong Chien.

After an extraordinary shareholder meeting in October 2023, former Deputy General Director Pham Manh Thang was elected Chairman of the Board of Directors, while Dao Phong Truc Dai became the Vice President of the bank. The bank will undergo a significant transformation by changing its identity and name to Prosperity and Development Joint Stock Commercial Bank by the end of 2023.

Despite these changes in leadership and personnel, PGBank remains committed to achieving its financial goals for the year. The bank aims to achieve a total net revenue of over 2,000 billion VND this year, with pre-tax profit expected to reach 554 billion VND and total assets anticipated to increase by more than 14%, reaching over 63,500 billion VND.