The State Bank of Vietnam (SBV) has promoted Ngo Quang Luong to become the central bank’s chief administrator, replacing Nghiem Xuan Thanh.

Nghiem Xuan Thanh left the position to become General Director of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), in place of Nguyen Phuoc Thanh.

Reportedly, Nguyen Phuoc Thanh left the CEO post after he had been appointed as Deputy Governor at the central bank on July 19, 2013.-VNA