January 17th, 2022

Asia Commercial Bank has new CEO

Deputy CEO of Asia Commercial Bank (ACB) Tu Tien Phat became its CEO Friday, replacing Do Minh Toan who led the bank for more than nine years.

Before his appointment as CEO for the 2022-2025 term, Phat was ACB’s Deputy CEO cum head of retail banking since 2015.

Phat, born in 1974, has an MBA degree and more than 25 years of experience in banking and finance.

Asia Commercial Joint Stock Bank said reported flat profits of VND2.6 trillion ($114.09 million) for Q3, 2021, as operating expenses and provision for bad debts rose sharply.

The bank’s total assets rose by 8 percent to VND479.3 trillion.

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