Vietnam Construction Bank (VNCB) has appointed Vu Bach Yen as new Chairwoman and Dam Minh Duc as new General Director after the arrests of the former ones.
Vu Bach Yen was member of VNCB’s Board of Directors since February 2012. She is also a major shareholder of the bank.
Dam Minh Duc was deputy director of the Hanoi area before being appointed as General Director.
The replacement took place immediately after former Chairman Pham Cong Danh and former General Director Phan Thanh Mai had been dismissed for the investigation of violations at Thien Thanh Group, where they were Chairman and member of the Board of Directors respectively. Thien Thanh Group is a major shareholder in VNCB.
On July 29, 2014, the State Bank of Vietnam (SBV) had an announcement on the arrests and prosecutions of Pham Cong Danh, Phan Thanh Mai and Mai Huu Khuong, a member of the Board of Directors in charge of finance at Thien Thanh Group, for the police’s investigation of the case of intentionally violating state regulations on economic management causing serious consequences (under Article 165 of the Criminal Code).
The SBV said VNCB had been put under close monitoring since 2012 and the arrests didn’t affect the normal operations of the bank.
Source StoxPlus