Vietnam Export Import Bank (Eximbank) on March 23 released a statement confirming that the replacement of Le Minh Quoc with Luong Thi Cam Tu as chairwoman of the bank’s board was in line with the regulations of the bank, the local media reported.
The bank had reported Tu’s appointment to the State Bank of Vietnam (SBV) and the relevant agencies and had made a public announcement in accordance with the regulations of the State Securities Commission.
In addition, the bank had ensured that the number of board members participating in its meeting on the appointment held on March 22 was in line with regulations. Two board members, who are representatives of Sumitomo Mitsui Banking Corporation, Eximbank’s strategic shareholder, also agreed to the appointment.
After the meeting, the bank issued Resolution 112/2019/EIB/NQ-HDQT on the appointment of Tu.
According to Eximbank, rumours of power conflicts within the bank are baseless and may affect the bank’s prestige.
Eximbank’s operations in the first months of the year were stable, with a 3.2 percent rise in capital mobilisation and VND327 billion (US$14.1 million) in pre-tax profit. Its outstanding loans were within the limit set by SBV, and its liquidity was ample, given deposits of over VND18 trillion, according to the bank’s statement.
Quoc had earlier denounced the effort to dismiss him from the post of chair of Eximbank’s board of directors and appoint Tu as the new chair at the meeting on March 22, stating that it went against the law and suggesting that the resolution on the appointment of Tu was invalid.
Quoc noted that he had reported the bank’s instability and violations committed by some board members of the bank to the central bank on March 11.
On March 19, SBV’s inspectors called on Quoc to submit evidence of his claims.
He later requested the cancellation of the meeting on March 22, but it was held, as scheduled, by the other board members.
https://english.thesaigontimes.vn/67154/new-chairwoman-appointment-legal-eximbank.html
