VietNamNet Bridge - After Ms. Dao Thi Thuy resigned as the Chair of OceanBank, the State Bank of Vietnam (SBV) appointed Mr. Do Thanh Son as it representative to manage operations of OceanBank.

Ocean Bank's new Chairman Do Thanh Son.

Ms. Dao Thi Thuy resigned on April 3 and the chairmanship is now held by Mr. Do Thanh Son, former director of a branch of Vietinbank in HCM City.

This is the third time OceanBank has changed its Chair since former Chairman Ha Van Tham was arrested last October. Ms. Nguyen Minh Thu was appointed to replace Tham. Thu, who was also being investigated from early January 2015, resigned after two months on the post and was replaced by Thuy.

The replacement of Thuy by Son occurred before OceanBank’s General Meeting of Shareholders 2015.

In early March, SBV revealed the plans to nationalize GPBank, and then possibly Ocean Bank if the bank is unable to handle its problems.

It is expected that in 2015 many banks will be merged, including Nam A Bank-Eximbank, Vietinbank-PGBank; Vietcombank-Saigon Bank; BIDV and MHB.

PV