The bank announced the decision Thursday as it dismissed chairman Pham Quang Dung after Prime Minister Pham Minh Chinh on Dec. 25 appointed him as the Deputy Governor of the State Bank of Vietnam.
Hung was tasked with leading the board in July and August 2021 when Vietcombank then-chairman Nghiem Xuan Thanh was appointed the Party Secretary of HauGiang Province in southern Vietnam.
Hung, 53, has a Master of Business Administration from Thailand’s Chulalongkorn University in an affiliated program with two U.S. universities. He was elected to be a Vietcombank director in April 2019.
Vietcombank made the biggest profit among Vietnamese lenders in the third quarter at VND9 trillion (US$375 million), up 20% year-on-year.