State Bank of Vietnam (SBV) on August 18 issued Decision No. 1662/QD-NHNN on a representative of the state's stake in the Bank for Investment and Development of Viet Nam (BIDV).

Tran Bac Ha, former chairman of BIDV, starts his retirement on September 1.

Accordingly, Le Minh Hung, governor of SBV, decided that Tran Bac Ha, former chairman of the management board, will no longer represent the 40 per cent state stake in BIDV following his retirement on September 1.

On the same day, BIDV's management board elected Tran Anh Tuan, a management board member since 2012, to be in charge of the board's operations.

The bank sent Dispatch No. 2651/BIDV-TKHDQT to the State Securities Commission and local stock exchanges, stating it had replaced Ha with Tuan. Tuan has been with BIDV for 35 years. He has been a management board member since 2012, earlier holding the positions of branch director, deputy general director and general director of the bank.

Ha also chaired BIDV for eight years. He was also chairman of the Association of Vietnamese Investors in Cambodia, the Association of Viet Nam Investors to Laos and the Association of Viet Nam Investors to Myanmar.

The government holds 95.28 per cent stake in BIDV, making it the bank's largest shareholder with a charter capital of VND34 trillion (US$1.5 billion).

Before his retirement, Ha held 40 per cent of the state's stake, Phan Duc Tu, a management board member and general director, held 30 per cent, while Dang Xuan Sinh held 30 per cent. 

VNS