Le Duy Hai was appointed as chairman of Vietnam-based Indovina Bank Ltd., replacing Nguyen Anh Tuan.

Le Duy Hai also replaces Nguyen Anh Tuan as representative director of the bank, according to a March 19 filing. Le Duy Hai serves as director of the corporate banking division of Vietnam Joint Stock Commercial Bank for Industry & Trade, or Vietinbank.

The appointment is subject to approval from the State Bank of Vietnam.

Indovina Bank is a joint venture between Vietinbank and Cathay Financial Holding Co. Ltd. unit Cathay United Bank.