ACB founder Tran Mong Hung passed away

Mr. Tran Mong Hung, founder of ACB Bank, first General Director of Asia Commercial Bank (ACB), passed away on April 25, 2024, at the age of 72.

He is a veteran banker, one of the founders of ACB and is considered the soul of this bank. He held the position of Chairman of the Board of Directors of ACB from 1994 to 2008, and a member of the Board of Directors from 2012 to 2018.

Since September 2012, the position of ACB Chairman was transferred to his son, Tran Hung Huy.

After 2018, ACB's founder withdrew from the Board of Directors and remained Deputy Chairman of the Bank's Risk Management Committee until 2023. His wife, Dang Thu Thuy, has also worked at ACB since the bank's inception and held many important positions. She has been a member of the bank's Board of Directors since 2011.

During more than 30 years of ACB's operation, founder Tran Mong Hung has been known as a visionary leader with a business spirit that respects the law, is practical and effective.

According to ACB, Mr. Hung operates with caution, prioritizing transparency. This has become a typical business method, helping the bank operate effectively and steadily in all contexts.

He also led the bank through difficult times with a leadership that harmoniously combined three perspectives on governance, corporate culture and human development.

Pursuing the philosophy that "people are the most important", former Chairman Tran Mong Hung laid the foundation for the human resource management style that ACB implements. His deep concern for human development has created generations of talented successor leaders and a team of high-quality, loyal employees. This is also the difference and the biggest competitive advantage of the bank to date.

Last year, ACB achieved a record profit of more than VND20,000 billion, ranking among the top 10 banks with the highest profits in the system. Excluding state-owned banks, the bank ranked third in the ranking of private banks with the highest profits. In the first quarter of this year alone, the bank earned nearly VND4,900 billion in profit, a slight decrease compared to the same period last year due to lower profits from non-credit activities and increased risk provisions.