Two bankers eye seats on Eximbank board
Two bankers eye seats on Eximbank board
Two former leaders of NamA Bank, Tran Ngo Phuc Vu and Tran Ngoc Tam, now represent this bank’s share holdings at the Vietnam Bank for Export and Import (Eximbank) and are expected to run for board membership at Eximbank’s upcoming general meeting.
Tran Ngo Phuc Vu used to serve as general director of NamA Bank and Tran Ngoc Tam as deputy general director of the bank.
Eximbank has announced the list of candidates for the board in the 2015-2020 term.
Vu represents NamA Bank’s 8.4% stake and also owns 1.63% of Eximbank while Tam owns 7.5% of Eximbank on NamA Bank’s behalf and another 2.85% himself.
There is a high possibility that NamA Bank and Eximbank could be merged as it has been in the news for some time and a deputy governor of the central bank told local media that he would throw support if this happens.
However, leaders of the two banks have declined to comment. NamA Bank now holds a stake of at least 16% at Eximbank. On the other hand, a large number of Eximbank shares were acquired by a mysterious investor via a put-through transaction in January.
A merger, if any, must be approved by Eximbank’s major shareholders like Sumitomo Mitsui Banking Corporation with a 20% stake, VOF Investment Limited of VinaCapital with a 5% stake, and other investors.
The two banks will have to secure approval from the State Bank of Vietnam if merged.
A source told the Daily that one major shareholder of Eximbank had disapproved of the merger.
