Eximbank (EIB) loses 3 deputy general directors; VNECO (VNE) denies 500kV project role

Overview

Eximbank (EIB) disclosed the resignation of three deputy general directors for personal reasons, leaving only four members in the management board. Meanwhile, VNECO (VNE) issued a statement denying its involvement in the VND 22,300 billion 500kV transmission line project and confirmed that its shares will be transferred to UPCoM. These developments affect investor perception of governance at EIB and project exposure at VNE.

Key Facts

• Three deputy general directors of Eximbank (EIB) resigned: Dao Hong Chau, Nguyen Ho Hoang Vu, and Nguyen Huong Minh, all citing personal reasons.
• After the resignations, EIB’s management board consists of four members: acting CEO Tran Tan Loc, two deputy general directors Pham Quang Dung and Nguyen Van Hoa, and chief accountant La Quang Trung.
• EIB shares closed at VND 21,500 on May 25, 2026, up 1.42% with volume of 4,991,800 shares.
• VNECO (VNE) denied participation in the VND 22,300 billion 500kV transmission line project (circuit 3).
• VNE shares closed at VND 2,550 on May 25, 2026, up 6.69% with volume of 5,063,600 shares, after three consecutive limit-down sessions.
• VNE confirmed that its shares will be transferred to UPCoM, but clarified that this does not mean the shares lose value or become untradeable.

What Happened

Eximbank (EIB) published an extraordinary disclosure on May 25, 2026, announcing that three deputy general directors had submitted resignations for personal reasons. The departing executives are Dao Hong Chau, Nguyen Ho Hoang Vu, and Nguyen Huong Minh. Following their departure, the management board now comprises only four individuals: acting CEO Tran Tan Loc, deputy general directors Pham Quang Dung and Nguyen Van Hoa, and chief accountant La Quang Trung. The bank did not provide further details on the reasons or succession plans.

Separately, VNECO (VNE) issued a statement to correct market rumors regarding its involvement in the 500kV transmission line project. The company denied participating in any construction packages for the VND 22,300 billion project, contrary to some media reports. VNE also addressed concerns about its stock transfer to UPCoM, stating that the move does not imply a loss of value or trading capability, but rather a change in listing venue.

Market Context

EIB shares on HOSE closed at VND 21,500 on May 25, up 1.42%, with relatively high volume of nearly 5 million shares. The leadership changes come amid a broader uptick in banking stocks, but the sudden departure of three senior executives may raise governance concerns among investors. VNE shares on HNX surged 6.69% to VND 2,550 after three consecutive limit-down sessions, suggesting a rebound driven by the company’s clarification. The broader VN-Index rose 0.47% to 1,886 points, still below the psychological 1,900 resistance.

Strategic Significance

For Eximbank, the simultaneous resignation of three deputy general directors signals potential internal discord or strategic shifts. The reduced management team may slow decision-making and execution, particularly as the bank navigates a competitive banking sector. Investors will watch for any further departures or appointments. For VNECO, denying involvement in the high-profile 500kV project removes a speculative catalyst that had driven recent volatility. The transfer to UPCoM may reduce liquidity and institutional interest, but the clarification could stabilize the stock in the near term.

What to Watch

• EIB’s announcement of replacements for the three deputy general directors and any further management changes.
• EIB’s Q2 2026 earnings report to assess operational impact from the leadership shake-up.
• VNE’s official listing date on UPCoM and any changes in trading volume or price post-transfer.
• Any new project announcements from VNECO that could provide alternative growth drivers.
• Market reaction to EIB’s governance developments, including foreign investor flows.