Prosperity and Development Joint Stock Commercial Bank (PGBank) has released additional documents for an upcoming extraordinary general meeting of shareholders. Among the agenda items, PGBank will propose to its shareholders the relocation of its head office.
Specifically, the PGBank management proposes to move the head office to the 4th, 5th, and 6th floors of the Thanh Cong Tower, located in the P-D17 land plot of the new Cau Giay Urban Area, Dich Vong Hau Ward, Cau Giay District, Hanoi.
Thanh Cong Tower (Source: Thanh Cong Asset Management and Services Company)
Previously, at the extraordinary general meeting of shareholders held on October 23, 2023, PGBank had approved the relocation of its head office to the HEAC Building at 14-16 Ham Long, Phan Chu Trinh Ward, Hoan Kiem District, Hanoi.
However, according to PGBank, the HEAC Building is currently under renovation and is expected to take a significant amount of time to complete. As it does not meet the requirements for the bank’s head office, PGBank continues to temporarily operate from its previous location.
PGBank’s current head office is located in the Mipec Tower at 229 Tay Son, Ngan Tu So Ward, Dong Da District, Hanoi, with a usable area of approximately 3,600 square meters. It has been in use since 2012 when the bank’s total personnel was around 200 people.
As of now, the physical infrastructure has started to deteriorate, and in the future, it will not be able to accommodate the increasing number of employees as PGBank expands its business scale. Therefore, the relocation of the head office is necessary to meet the demands for workspace and support the bank’s growth strategy.
Additionally, at this extraordinary general meeting, PGBank will elect two new independent members to its board of directors. The candidates are Mr. Dao Quoc Tinh and Mrs. Cao Thi Thuy Nga.
The extraordinary general meeting of shareholders is scheduled to take place on August 26, 2024, at The Five Residences Hanoi hotel, located at 345 Doi Can, Ba Dinh District, Hanoi.
PGBank has undergone leadership changes following the divestment of Petrolimex Group, one of its founding shareholders. A new group of shareholders with ties to the Thanh Cong Group has since joined the bank.
At the 2024 annual general meeting of shareholders, PGBank’s leadership acknowledged the Thanh Cong Group as a supportive partner in the bank’s business operations. The bank has also focused on developing automotive-related products, particularly car dealership loans for Hyundai vehicles produced and assembled in Vietnam by TC Group.
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