DongA Bank gets new general director

The central bank has appointed Nguyen Thanh Tung as the new general director of DongA Bank.

DongA Bank plans to announce this decision on December 31.

Tung, who has several years of experience in dealing with credit affairs, was appointed by the central bank as a member of the board of DongA in September, replacing Nguyen Thi Kim Xuyen, former board member and deputy general director of DongA.

Previously, DongA Deputy General Director Nguyen An ran the bank operations after General Director Tran Phuong Binh was dismissed by the central bank on August 20 for violating the bank's regulations during his tenure.

The central bank placed DongA under supervision in the middle of August when inspectors uncovered illegal activities being conducted at the bank that could cause serious financial consequences for the state and citizens.

DongA, which has capital of VND5 trillion (US$222.22 million), aims to earn VND200 billion ($8.89 million) in pre-tax profits this year, following a slump last year.

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