New chairman of VietinBank Tran Minh Binh. Photo courtesy of the bank

Vietnam Bank for Industry and Trade (VietinBank) has elected General Director Tran Minh Binh as the bank's new chairman for the 2019-2024 term.

The appointment came Tuesday, two months after the bank's former chairman, Le Duc Tho, was appointed secretary of Ben Tre Provincial Party Committee from July.

Tran Minh Binh, 47, holds a Master's degree in Business Administration from National Economics University - Belgium's ULB University.

Binh has more than 22 years of experience working at VietinBank, including 17 years as a professional manager at the head office and branches and eight years as a senior manager.

On the same day, the bank also assigned Nguyen Hoang Dung, its deputy general director, as general director in charge of the executive board, replacing Tran Minh Binh.

VietinBank, the third-largest lender by total assets in Vietnam, made a consolidated net profit of VND10.81 trillion ($473.69 million) in the second quarter of 2021, up 44.52 percent compared to the same figure in 2020, according to the bank’s financial report.