Eximbank, MSB, VPBank announce senior leadership changes in late July 2026

Overview

Several Vietnamese banks, including Eximbank (EIB), MSB, and VPBank (VPB), announced senior leadership changes in late July 2026. Eximbank held an extraordinary general meeting on July 24 to elect a new board of directors with a majority of independent members, while MSB and VPBank appointed new deputy general directors and a vice chairperson. These moves aim to strengthen governance and operational capacity ahead of the half-year earnings season.

Key Facts

• Eximbank’s extraordinary general meeting on July 24, 2026 approved adjusting the board size to 7 members, including 6 independent directors.
• The meeting elected 5 new independent board members and one new member of the supervisory board.
• Nguyen Le Quoc Anh, 60, was elected Chairman of Eximbank. He holds a PhD in Nuclear Engineering from Purdue University and previously served as CEO of Techcombank.
• Other new board members include Richa Goswami, Ooi Huey Tyng, Michael Richard Harte, and Chua Teck Huat Bill, all with experience at HSBC, Standard Chartered, UOB, DBS, Visa, and Citigroup.
• Nguyen Quoc Hung, former Director of the Credit Department at the State Bank of Vietnam and Vice Chairman of the Vietnam Banks Association, was elected to the supervisory board.
• On July 23, MSB appointed Hoang Viet Phuong as Deputy General Director, effective immediately. He has been with MSB since 2008 and previously served as CEO of MSB Enterprise Bank.
• In early July, VPBank’s board approved the appointment of Pham Thi Nhung as Vice Chairperson of the board.

What Happened

Eximbank held an extraordinary general meeting on July 24, 2026, where shareholders approved changes to the board structure for the 2025-2030 term, increasing the board to seven members with six being independent. The meeting elected five new independent board members and one new member of the supervisory board. Immediately after, the new board convened and elected Nguyen Le Quoc Anh as Chairman. The new board members bring extensive international banking experience from institutions such as HSBC, Standard Chartered, and Citigroup.

Separately, MSB announced on July 23 the appointment of Hoang Viet Phuong as Deputy General Director, also serving as CEO of MSB Enterprise Bank. He has been with MSB since 2008 and has held various leadership roles in corporate and retail banking. VPBank, in early July, appointed Pham Thi Nhung as Vice Chairperson of the board, according to a board resolution.

Market Context

EIB closed at VND 17,500 on July 26, 2026, MSB at VND 15,950, and VPB at VND 24,950. The banking sector has been under pressure from rising bad debts and tighter regulatory oversight. Leadership changes at these banks come as they seek to improve governance and operational efficiency. Eximbank, listed on HOSE, has been restructuring its board to enhance independence, which may appeal to foreign investors.

Strategic Significance

The appointment of experienced international bankers to Eximbank’s board signals a strategic push to strengthen risk management and corporate governance, potentially improving the bank’s credit profile and access to foreign capital. MSB’s internal promotion of Hoang Viet Phuong underscores a focus on deepening corporate banking relationships. VPBank’s new vice chairperson may help steer the bank through its ongoing digital transformation and expansion. These changes align with broader regulatory expectations for better governance in Vietnamese banks.

What to Watch

• Eximbank’s half-year 2026 earnings report, due in August, for signs of improved asset quality and profitability.
• Any further board or management changes at MSB or VPBank in the coming months.
• Foreign ownership limits and potential interest from international investors in Eximbank following board restructuring.
• Regulatory updates from the State Bank of Vietnam on governance requirements for banks.
• Market reaction to the new leadership, particularly EIB’s stock performance and trading volumes.