Asia Commercial Bank has new CEO

Jan 17, 20221 min read

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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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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