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VietinBank to appoint Co - General Manager of VietinBank German branch

On 1st August 2018, Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) announced the Decision on appointing Mr. Nguyen Hong Duc to be the Co – General Manager of VietinBank German branch from 15th July 2018.

CEO Le Duc Tho delivered a welcome speech

Mr. Le Duc Tho - Deputy Secretary in charge of Party Committee, member of the Board of Directors cum CEO; Mr. Tran Kien Cuong - Standing Deputy Secretary of Party Committee; other members of Standing Party Committee, Members of the Board of Directors, Members of the Board of Managers, Supervisory Committee, Chief Accountant and Heads of Divisions, Departments of VietinBank Head office attended the ceremony.

From 1st March 2014, VietinBank assigned Mr. Nguyen Duc Thanh - Deputy General Director of VietinBank cum Co- General Manager of VietinBank German branch. During his 4 year term,  Mr. Thanh together with his colleagues in VietinBank German branch made great efforts to gradually overcome difficulties to make VietinBank German branch profitable in 2017.

Subject to human resource demands, on 15th July 2018, VietinBank’s Board of Directors made the decision to recall Mr. Thanh back to Vietnam to perform other missions at Head Office.

Reperesentative of Vietinbank’s BOD congratulated Mr Nguyen Duc Thanh for his success

In consideration of the staff qualification, experience and morality, VietinBank’s Board of Directors decided and appointed Mr. Nguyen Hong Duc, the former Deputy General Director of Petrolimex Joint Stock Commercial Bank (PG Bank) to be Co- General Manager of VietinBank German branch from 15 July 2018 instead of Mr. Nguyen Duc Thanh.

Mr. Nguyen Hong Duc was recruited and appointed subject to VietinBank’s recruitment procedures, consents of all VietinBank’s Board members and approvals of relevant authorities in Germany.

Prior to joining VietinBank, Mr. Nguyen Hong Duc was Deputy General Director of PG Bank, owning more than 20 years of management experience in financial institutions, including Deputy General Director of Chinfon Global – Cambodia branch, Vice President of FI Relationship Management of Citibank – Hanoi branch; Deputy General Director of GP Bank, TP Bank..

Vietinbank’s CEO gave the Appointment Decision to new Co-General Manager of Vietinbank German Branch

At the ceremony, Mr. Le Duc Tho – VietinBank’s CEO delivered a speech to welcome Mr. Nguyen Hong Duc to join VietinBank and believed that Mr. Duc will leverage his extensive experience and intelligence to drive VietinBank German branch forward safely, efficiently and complete the missions assigned by VietinBank’s Board of Directors. Accordingly, Mr. Duc is requested to actively implement the tasks, focusing on:

1. To promptly complete the handover; to fully catch up with the operation of VietinBank German branch, business environment, legal regulations, relations with customers and relevant authorities in Germany; to co-operate with the German Co- General Manager of VietinBank German branch to implement successfully the business plan of 2018 and the following years; to maintain German branch’s efficiency ratios in accordance with Bafin regulations.

2. To improve the business efficiency and productivity by:

Taking the prior role in promoting the bilateral trade and investment relations between Vietnam and Germany, consultancy activities, business connections between VietinBank’s customers and German, European enterprises;

Developing the customer base in Germany, promoting co-financing business with banks in Germany; focusing on target customers, including European customers having trade/investment relations with Vietnam; Vietnamese companies operating in Germany/EU; Vietnamese people living in Germany/EU;

Developing appropriate products and services, especially mobilizing funds from individuals, enterprises, banks; credits; payment services, overseas remittance; block accounts and other services.

Managing the bank operation well and in compliance with German laws and internal regulations of VietinBank. Especially, paying special attentions to credit appraisal, selecting eligible/efficient customers/projects for financing, managing cashflow and collateral tightly, granting loans on safe, efficient, full principal and interest collection basis. Focusing on collecting current bad debts fully and avoiding new ones.

3. To improve human resources:

Reviewing, strengthening all of the personnel, recruiting qualified staff to meet the branch business development and management requirements.

Localizing the staff, especially specialized staffs and heads of some departments.

Developing the business efficiently and safely to secure a strong human resource.

Training staffs and building employees’ commitment

4. To restructure VietinBank German branch's operation to aim at its business diversification, comprehensive cooperation with banks in Germany and VietinBank system.

5. To review the branch property and propose plans for the property consolidation to VietinBank’s Board of Management to secure its efficient exploitation, utilization.

6. To set up and develop a strict, disciplinal, observant, responsible, efficient, united, determined working environment to achieve the business targets successfully.

7. Head office in Viet Nam will continue to support VietinBank German branch, especially issues regarding HR, IT system, risk management policy, staff policies, policies for business support and development...

 “Mr. Nguyen Hong Duc and the whole staff of VietinBank German branch are requested to be united, unanimous to lead and operate the branch safely and efficiently " - said CEO Le Duc Tho.

Delivering his speech to undertake assignment, Mr. Nguyen Hong Duc, the newly appointed Co-General Manager of VietinBank German branch said: "It is my great honor to join VietinBank. I am aware of my ahead heavy responsibilities and promise to try my best to drive the branch toward to complete missions assigned by VietinBank Board of Directors. I hereby acknowledge and will promptly implement all the above instructions from the CEO.”

Commemorative photograph of all representatives

Minh Khue

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