Eximbank is gearing up for its annual general meeting of shareholders on April 29, 2025, where it will unveil significant plans for the upcoming term. The meeting, set to take place at the Melia Hotel in Hanoi, is expected to address key topics, including the election of the Board of Directors (BOD) for the 2025-2030 term and ambitious financial targets for the bank.
The proposed structure for the new BOD includes five members, with a notable focus on ensuring compliance with the new requirements of the Law on Credit Institutions 2024. Among the candidates are Nguyen Canh Anh, the current Chairman of the BOD, and Do Ha Phuong, the current Vice Chairman. The list also features three new nominees: Pham Tuan Anh, Hoang The Hung, and Pham Thi Huyen Trang.
Pham Tuan Anh, born in 1976, brings 26 years of experience from GELEX, where he currently serves as Deputy General Director of GELEX Electric and General Director of Hanoi Electrical Engineering Manufacturing Joint Stock Company (HEM). Notably, he has decided to resign from all positions within the GELEX system effective April 29, 2025, to comply with the new regulatory requirements during the election of the new BOD.
GELEX stands out as Eximbank's largest shareholder, holding 174.6 million EIB shares, which equates to 10% of the bank's charter capital. The other two independent candidates, Hoang The Hung and Pham Thi Huyen Trang, also come with impressive credentials. Hoang The Hung, born in 1981, has over 20 years of experience in IT and digital solutions and is currently a member of the Board of Directors of Nhat Viet Securities Joint Stock Company. Meanwhile, Pham Thi Huyen Trang, born in 1982, holds a master’s degree in banking and finance and has 12 years of experience at VietinBank, alongside roles at Sun Group and Deo Ca Group.
In addition to the BOD elections, Eximbank will also present the list of candidates for its Supervisory Board, which has been approved by the State Bank of Vietnam. This board is set to comprise five members: Doan Ho Lan, Lam Nguyen Thien Nhan, Nguyen Tri Trung, Tran Thi Minh Ly, and Hoang Tam Chau.
One of the most anticipated announcements during the meeting will be Eximbank's consolidated pre-tax profit target for 2025, which is set at VND 5,188 billion. This figure represents an increase of VND 1,000 billion, or 23.8%, compared to the previous year. Furthermore, the bank aims to reach total assets of VND 265,500 billion, a 10.7% increase, with mobilized capital projected to hit VND 206,000 billion, reflecting a 15.5% rise.
The bank's outstanding loans are expected to reach VND 195,500 billion, marking a 16.2% increase, while the bad debt ratio is targeted to decrease to 1.99%. These ambitious goals underscore Eximbank's commitment to growth and stability in the financial sector.
Eximbank also revealed its financial strategy moving forward, indicating that it will not distribute dividends for the year 2024. This decision is aimed at consolidating its financial capacity for sustainable growth and development. The bank reported an undistributed profit of VND 2,431 billion after setting aside funds for 2024, with a total accumulated undistributed profit of VND 2,526 billion up to that year.
In recent years, Eximbank has faced its share of challenges, particularly surrounding internal governance issues. However, since late 2024, there have been encouraging signs of improvement, with increased cooperation among shareholders and a clearer path forward for the bank.
As the annual general meeting approaches, stakeholders are keenly interested in how these developments will shape Eximbank's future and its role within the broader banking sector. With a focus on transparency and compliance, the upcoming term promises to be pivotal for the bank as it navigates the complex landscape of Vietnam's financial environment.
In conclusion, the April 29 meeting will not only set the tone for Eximbank's governance but also outline its ambitious financial targets, marking a significant step in the bank's journey towards sustainable growth and enhanced shareholder value.
