Eximbank shareholders meeting postponed for third time
Eximbank shareholders meeting postponed for third time
Although nearly 94% of the shareholders of Vietnam Export Import Bank (Eximbank) attended its annual general meeting on June 21, the bank canceled the meeting halfway through the gathering, and once again postponed it due to a dispute among shareholders.
As soon as Eximbank Chairman Cao Xuan Ninh announced the agenda for the meeting, up to 55% of shareholders disagreed with the continuation of the meeting, the local media reported.
Further, the bank’s strategic shareholders questioned the legitimacy of Eximbank Chairman Ninh. Some shareholders even asked for the election of a new chairman.
Ninh said he felt great anguish, as Eximbank was once one of the five leading joint stock commercial banks in Vietnam, but is now among the three with the poorest performances. Though the bank’s board of directors has carried out multiple solutions to improve its governance, it has repeatedly faced obstacles.
He also affirmed that the appointment of himself as chairman of Eximbank was legal.
Thus, the bank’s annual shareholder meeting has been canceled for the third time, and a date for the next meeting is unknown.
The meeting was initially scheduled to be held on April 26, but was not convened due to the absence of many shareholders.
On May 11, the bank announced that the meeting would be held on May 26, but was then delayed until June 21.
