Mr. Nguyen Hoang Hai, Acting CEO of Eximbank
On November 28, Vietnam Export Import Commercial Joint Stock Bank (Eximbank) held an extraordinary General Meeting of Shareholders (GMSS) in Hanoi. One of the key agenda items that attracted shareholders’ attention was the proposal to relocate the bank’s head office to Hanoi.
As per the plan submitted by Eximbank’s Board of Management, the bank intends to 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: 27-29 Ly Thai To, Ly Thai To Ward, Hoan Kiem District, Hanoi.
It is understood that the address at 27-29 Ly Thai To, Ly Thai To Ward, is a hotel, commercial services, and office rental complex invested by Gelex Group. This project is commercially known as 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 with a prime location.
Addressing shareholders’ concerns about the impact of the head office relocation on the interests of employees in the Southern region, Mr. Nguyen Hoang Hai, Acting CEO of Eximbank, said: “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 Export and Import of Vietnam, not just Ho Chi Minh City or the Southern region. Therefore, we aim to establish our brand presence nationwide.”
According to the Acting CEO of Eximbank, in addition to expanding the brand’s reach to the North, the bank also wants to focus on sectors expected to thrive in this region in the near future, including not only finance but also logistics, transportation, infrastructure, and industrial park services.
Mr. Hai, the Acting CEO, believes that after 35 years of development in the Southern market, Eximbank has reached a saturation point. In contrast, the Northern market, along with the strategy to expand branches and business locations, offers the bank an opportunity to catch up with its peers within three to five years through innovative business strategies. “Instead of resting on the laurels of our 2.4 million customer base, we should strive to grow and improve,” he added.
Mr. Nguyen Hoang Hai also shared that Eximbank currently employs 6,300 people, with 1,890 of them working 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, or causing harm or suspected harm to Eximbank, will be automatically removed,” Mr. Hai emphasized.
“Additionally, there have been numerous unfounded 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 damages and identify the perpetrators,” the Acting CEO further informed.
Regarding the project at No. 7 Le Thi Hong Gam, Mr. Hai stated that the total investment for this project was VND 3,000-4,000 billion. “The Eximbank management 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.
Vice Chairman Tran Tan Loc addressed shareholders’ queries about the costs already incurred for the head office project at Le Thi Hong Gam. He clarified 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 Management will review the records with the partner regarding past expenses. They will negotiate a reasonable cost to avoid financial losses for the bank. In case of any damages, they will be calculated and handled according to legal regulations, regardless of whether they resulted from subjective or objective factors.
“Anyone who causes losses due to subjective factors will be handled according to legal regulations,” Mr. Loc emphasized.
Following the voting process, Eximbank’s GMSS 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 more than 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 more than 51% of the total number of shares entitled to vote is sufficient for approval.
