Transactions are carried out at DongA Bank. The bank has witnessed more changes in its management positions. — Photo ndh.vn

HA NOI (Biz Hub) — There were more changes witnessed in management positions at the ailing DongA Bank on September 14.

The State Bank of Viet Nam assigned Nguyen Thanh Tung, the director of VietinBank's HCM City branch to replace Nguyen Thi Kim Xuyen, board member and deputy general director of DongA.

The central bank also designated Nguyen Ngoc Tam, the former deputy general director of Mekong Housing Bank, which merged with the Bank for Investment and Development of Viet Nam in May, to assume the post of deputy general director of DongA.

Tung has a master's degree in finance and 19 years dealing with credit affairs, while Tam has experience in accounting.

Late last month, DongA management board members elected their fellow, Vo Minh Tuan, as the new chairman.

The central bank had designated Tuan as a member of the DongA's management board to replace Tran Phuong Binh, the bank's former general director and board member who was dismissed on August 20 for violations during his tenure.

Tuan had been deputy director of the central bank's credit department since September 2014.

DongA has also nominated its deputy general director, Nguyen An, to run the bank until a permanent replacement is identified for Binh.

The central bank has placed DongA under supervision since mid-August when inspectors uncovered illegal activities by the bank that could cause serious financial consequences for the State and citizens.

DongA, which has a capital of VND5 trillion (US$222.22 million), targets pre-tax profits of VND200 billion ($8.89 million) this year after a slump last year. — VNS