Mr. Nguyen Hoang Hai, Acting CEO of Eximbank
On November 28th, Vietnam Export Import Bank (Eximbank) held an extraordinary General Meeting of Shareholders (GMOS) in Hanoi, with one of the key agenda items being the proposal to relocate the bank’s head office to the city.
As per the plan submitted by Eximbank’s Board of Management, the bank will relocate its head office from the 8th floor, Office No. L8-01-11+16, Vincom Center, 72 Le Thanh Ton, Ben Nghe Ward, District 1, Ho Chi Minh City, to a new address at 27-29 Ly Thai To, Ly Thai To Ward, Hoan Kiem District, Hanoi.
The new address at 27-29 Ly Thai To is a complex of hotel, commercial services, and leased offices invested by the Gelex Group. The project’s commercial name is Fairmont Hanoi. In April 2024, Central Construction Joint Stock Company coordinated with Gelex to hold a roof-sealing ceremony for this project, which is one of Gelex’s key projects in a prime location.
Addressing shareholders’ concerns about the impact of the head office relocation on the interests of southern-based employees, Mr. Nguyen Hoang Hai, Acting CEO of Eximbank, stated: “This year marks Eximbank’s 35th year of operation, primarily focused on Ho Chi Minh City and the southern region. Eximbank has a customer base of 2.4 million, which has remained unchanged for the past decade. Meanwhile, our competitors, who started from a lower position, have far surpassed us.”
Mr. Hai also emphasized: “Eximbank is the Joint Stock Commercial Bank for Foreign Trade of Vietnam, not just Ho Chi Minh City or the southern region. Thus, we aim to expand our brand presence nationwide.”
According to the Acting CEO, beyond expanding the brand’s reach to the north, Eximbank also intends to focus on sectors expected to thrive in the region shortly, including not only finance but also logistics, transportation, infrastructure, and industrial park services.
Mr. Hai believes that the southern market has reached a saturation point after 35 years of development. In contrast, the northern market presents opportunities for growth, accompanied by the bank’s strategy to expand its branches and business locations. Eximbank aims to catch up with its peers in 3-5 years through new business strategies “instead of resting on the laurels of our 2.4 million customer base and a sense of false pride.”
Mr. Nguyen Hoang Hai also shared that Eximbank currently employs 6,300 people, 1,890 of whom are based at the Ho Chi Minh City head office.
“Relocating the head office to Hanoi will double Eximbank’s ability to seize opportunities and develop its market presence in the northern region. We will not make any decisions that compromise the interests of our dedicated employees. However, those with malicious intentions, acting against the organization’s interests and causing harm or suspected harm to Eximbank, will be automatically eliminated,” emphasized Mr. Hai.
“Additionally, there have been baseless rumors circulating in the market, creating a negative impact on the morale of Eximbank’s staff and resulting in tangible losses. The bank is currently working with authorized agencies to assess the extent of the damage and identify the perpetrators,” the Acting CEO further informed.
Regarding the project at No. 7 Le Thi Hong Gam, Mr. Hai shared that the total investment for this project was VND 3,000 – 4,000 billion. “The Eximbank leadership has chosen a better option, prioritizing business operations over the brand. Hence, we have temporarily halted the construction of the head office at this location,” he explained.
Answering shareholders’ queries about the costs already incurred for the head office project at Le Thi Hong Gam, Vice Chairman Tran Tan Loc stated that the expenses related to the construction of No. 7 Le Thi Hong Gam were incurred during the previous terms of the Board of Directors.
According to Mr. Loc, if the head office relocation proceeds and the construction of the head office at No. 7 Le Thi Hong Gam is discontinued, the Board of Directors will review the files with the partner from the previous term. If there are any incurred costs, they will negotiate a reasonable amount to minimize losses for the bank. Should there be any losses, they will be calculated and handled according to legal regulations, regardless of subjective or objective factors.
“Anyone causing losses due to subjective factors will be handled according to legal regulations,” Mr. Loc emphasized.
Following the vote, the GMOS of Eximbank approved the proposal to change the location of the head office, with 1,016 million shares, representing 58.73% of the shareholders in favor and 713 million shares, or 41.23%, against.
However, the two proposals to amend and supplement the Charter to align with the change of the head office location and to terminate the investment in the Eximbank head office project at No. 07 Le Thi Hong Gam were not approved. Both proposals received 58.73% approval and 41.23% disapproval.
As these are crucial issues, the approval of over 65% of the shareholders representing the total number of shares entitled to vote is required for these proposals to pass. For the remaining proposals, a simple majority of over 51% is sufficient for approval.
