Bankers Ngo Chi Dung, Duong Cong Minh and Dang Khac Vy frequently appeared in local media in 2017.
Ngo Chi Dung is a veteran banker. From 1996-2004, he was the founding shareholder of VIB Bank. Later, he became vice president of Techcombank and since 2010, has been VPBank’s chair of the board of directors.
2017 was the most prosperous year for VPBank, with Ngo Chi Dung’s name mentioned more frequently.
In 2016 and the first half of 2017, VPBank led joint stock banks in profitability. The bank has been so successful that analysts have compared it with Vietcombank, one of the best banks in Vietnam, though VPBank is just equal to half of Vietcombank in scale.
VPBank has been the only bank so far this year and the first bank since 2014 that has listed shares on the bourse. VPBank shares made their debut on August 17 with the starting price of VND39,000 per share, double the price early this year.
Soon after VPBank entered the bourse, Dung added his name on the list of the 15 richest businessmen in the stock market with total stock assets of VND2.8 trillion by October 13.
Duong Cong Minh is now president of Sacombank (STB), but has been well known for many years, since he took the post of president of LienViePost Bank. When Minh took post of president of Sacombank, he had to divest LienVietPost Bank’s shares and earned VND1.2 trillion in mid-June.
Minh is now in the 69th position on the list of the Vietnamese richest stock billionaires with VND689 billion worth of STB shares. However, Minh’s total assets are much higher.
His Him Lam Company, a real estate developer, is developing large projects throughout the country, from golf courses and resorts to housing projects, capitalized at billions of dollars.
Minh became even more famous recently after he took the ‘hot seat’ at Sacombank, which has gone downhill after many years in its golden age. He has changed the key personnel of the bank, applied a new pay mechanism, and cooperated with VAMC to settle bad debts. He has vowed to bring Sacombank back to its heyday within 3-5 years.
2017 was a ‘year to remember’ for Dang Khac Vy, president of VIBBank, who is in the 67th position on the list of richest stock billionaires.
VIB Bank has medium scale of operation, but it is respected for its business performance and asset quality. It is one of the ‘cleanest’ of the banks in the banking system.