Vietcombank Leader Wins "Excellent Asian Banker" Title

The Asian Banker magazine awarded the general director of the Bank for Foreign Trade of Vietnam (Vietcombank) the title of “the excellent Asian banker 2005”.

 

In a meeting with Asian banks held on March 15, the Asian Banker magazine awarded “the excellent Asian banks” title for the year 2005 to excellent individuals in the banking and finance sector in the region. 

 

Amongst 380 candidates, Vietcombank’s general director Vu Viet Ngoan, one of 14 individuals representing 13 nations and territories, was awarded “the excellent Asian banker of the year 2005”.

 

This prestigious prize is awarded annually by the Asian Banker magazine in a bid to honor the skills and capacities of banking and finance leaders in applying professional standards amidst quick changing markets.

 

Assessing the Vietcombank general director, the Asian Banker said at the award ceremony that “under the leadership of the doctor of philosophy Vu Viet Ngoan, Vietcombank has succeeded in restructuring the bank, promoting financial capacity via the issue of convertible bonds and posted the highest profit among state owned commercial banks in Vietnam.”

 

Vietcombank was the biggest money maker in the field with net profit of VND2 trillion (US$126.58 million).

 

It is reported, the bank snapped up VND1.36 trillion (US$86.4 million) from its first convertible bond issue, higher than the target of VND1.2 trillion.