When Hung Huy, now 45, became chairman of Asia Commercial Bank (ACB) in 2012, he was already the youngest bank chairman in the history of Vietnam by far.
Huy is the eldest son of ACB founder Tran Mong Hung and Dang Thu Thuy, a member of ACB’s board of directors.
At the 30th anniversary of ACB’s establishment on June 4, Huy went viral for his unhesitant performances of “Always Remember Us This Way” by Lady Gaga and “Co Don Tren Sofa” (Lonely On the Sofa) by Ho Ngoc Ha.
With a stage presence like the pop stars whose songs he sang, Huy’s freewheeling and free-spirited dance moves reminded some of Gene Kelly’s “Singin’ in the Rain”.
Huy’s also well-known as a talented and generous businessman who has achieved success using the merits of his own abilities, not the nepotism of coming from a powerful and wealthy family.
At the age of 24, after completing his master’s degree in Business Administration from Chapman University in Orange County, US, Huy applied for a job at ACB without telling his family. He only told his parents when he got the job.
For the first three years of his employment, Huy was a low-level employee at ACB. Then, with a desire to further his education and improve his skills, he returned to the US for a doctorate degree in economics at Golden Gate University. In 2011, Huy obtained his degree and devoted all his energy to building a career at ACB.
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Tran Hung Huy (C) performs at the 30th anniversary of ACB on June 4, 2023. Photo by Facebook/Tran Hung Huy |
Breakthrough
In 2012, as a deputy general director of ACB, Huy was appointed as chairman of the bank’s board of directors. This came following the arrest of Nguyen Duc Kien, co-founder of ACB for fraud, tax evasion, illegal trade and deliberate wrongdoing causing serious consequences.
It meant that at the age of 34, Huy became the youngest chairman in the history of Vietnam’s banking industry. The record still stands.
At first, many people thought that Huy was only a temporary option as chairman while ACB was in crisis. But at the next shareholder meetings, Huy maintained this position, partly due to the bank’s positive business results under his stewardship.
According to financial reports, in 2022, ACB recorded a pretax profit of VND17.11 trillion ($728.87 million), up 42.6% compared to the previous year. At the end of the first quarter this year, ACB earned nearly VND5.157 trillion in consolidated pretax profit, up 25% over the same period. The lender has also already completed 26% of its 2023 business plan this year.
Tran Hung Huy’s performance. Video by Facebook/Tran Hung Huy
Huy owns VND115.7 million of ACB’s shares, accounting for 3.43% of the bank’s charter capital. His asset value at ACB through stock ownership is estimated at VND2.9 trillion.
Huy is the only bank chairman in Vietnam with a public social media account. He regularly shares photos of his colorful life. Huy often travels and takes part in activities such as sailing, surfing and going to the gym.
However, Huy is very secretive about his love life and doesn’t share anything about his romantic relationships on social media. At the moment, it seems like the ACB chairman has yet to find “the one.”
