SBV appoints new chairwoman of Construction Bank

Wednesday, Jul 30, 2014 15:43

The SBV says that the arrests of the top leaders of Vietnam Construction Bank will not affect the bank's normal operations. — photo
HA NOI (Biz Hub) — The State Bank of Viet Nam (SBV) has appointed a new chairwoman and general director of the Vietnam Construction Bank (VNCB).

The decision follows the arrest and temporary detention of the bank's three former senior officials on July 29.

The new chairwoman is Vu Bach Yen, who has been a member of VNCB's executive board since February 2012 and is a major shareholder. Meanwhile, the bank's Deputy General Director Dam Minh Duc, who was in charge of the bank's operations in Ha Noi, is the new general director.

According to the Ministry of Public Security's Investigation Police Agency, the three former officials were arrested on Tuesday for allegedly violating Viet Nam's Penal Code's Article 165.

The Article deals with deliberate acts against the State's regulations on economic management, leading to serious consequences.

The arrested persons are Pham Cong Danh, 49, former chairman of VNCB; Phan Thanh Mai, 43, former member of VNCB's executive board and general director; and Mai Huu Khuong, 31, former member of VNCB's executive board, in charge of finance.

On Monday, a day before they were arrested, SBV announced that the three officials had been dismissed from VNCB's service to ensure normal operations of the bank.

Pham Cong Danh (left) and Phan Thanh Mai are arrested for deliberate violation of the State's economic management regulations, causing serious consequences. — Photo
VNCB was established from the Trust Bank in May 2013. The Trust Bank was in operation for 23 years with a charter capital of VND3 trillion (US$142.85 million).

It's reported that Mai, Danh and Khuong were elected members of VNCB's executive board in February 2013. Then Mai was appointed as the bank's general director.

Danh was also Thien Thanh Group Ltd Company's chairman of the board of directors.

Thien Thanh Group Ltd Co is a subsidiary of the Thien Thanh Group, based in HCM City. Its businesses include construction materials, auto services, real estate, finance and hotels.

Meanwhile, Khuong was also chairman of the executive board of the Dai Viet Stock Company, while Mai was a member.

The case is being investigated further. — VNS

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