Cao Si Kiem, former governor of the State Bank of Vietnam, was elected to be new chairman of the management board of DongA Joint Stock Commercial Bank on its annual general shareholders' meeting on April 26. — Photo baocongthuong.com.vn

HA NOI (Biz Hub) — The annual general shareholders' meeting of DongA Joint Stock Commercial Bank on April 26 elected Cao Si Kiem as its new chairman of the management board.

Born in 1941, Kiem was State Bank of Vietnam's (SBV) Governor from 1989 to 1997. Since 2006, he has been the chairman of the Viet Nam Association of Small and Medium Enterprises and has attended the National Monetary and Financial Policy Consultancy Council. This is the first time that a former SBV governor has been appointed to the highest position at a commercial bank.

The meeting passed the financial results of the bank in 2013. Its total assets reached nearly VND75 trillion (US$3.57 billion), with an 8.1 per cent increase compared with the previous year. The bank raised capital of over VND65 trillion ($3.09 billion), and its after-tax profit (after hedge) is over VND430 billion ($20.47 million).

In 2014, the bank's total assets are expected to reach VND89 trillion ($4.23 billion), with the charter capital totalling VND6 trillion ($285.7 million) and its after-tax profit reaching VND500 billion ($23.8 million).

This year, DongA Bank will continue to focus on restructuring, capital stabilisation, institutional development and institutional quality management. — VNS