LPBank
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LPBank (old name: LienVietPostBank) is a Vietnamese retail bank based in Hanoi.
Native name | Ngân hàng TMCP Bưu điện Liên Việt |
|---|---|
| Type | Private |
| Industry | Banking and Finance |
| Founded | 28 March 2008 |
| Headquarters | , Vietnam |
Key people | Nguyen Duc Thuy (Chairman) Ho Nam Tien (CEO) |
| Total assets | VND 350,000 billion (2022) (equivalent to USD 15 billion) |
Number of employees | 10.500 (As of Oct 30 2023) |
| Website | www |
Background Edit
Lien Viet Post Joint Stock Commercial Bank or LPBank in short, formerly known as LienVietBank before 2011, is a private Vietnamese retail bank. It provides banking products and services through its own transaction offices across 63 cities and provinces, postal transaction offices and Lienviet24h, its mobile wallet developed in-house, merchants nationwide .[1]
LPBank is ranked 27nd in Top 500 private enterprises in Vietnam in 2022.[2]
In May 2023, the Bank adopted LPBank as the new official brandname.
By May 2023, the Bank’s customer base has reached 7 million clients. Its charter capital is 20,576 billions (USD 840 million). LPBank is providing banking products and services through out 566 bank-own branches/transaction offices and over 600 postal transaction offices across all the 63 cities and provinces in Vietnam. [3]
Milestones Edit
| Time | Milestones |
|---|---|
| 2008 | • Established as LienVietBank and opened the first branch in Hau Giang Province respectively in March and May 2008.[4] |
| 2011 | • Signed a 50-year co-operation agreement with Vietnam Post to merge with Vietnam Postal Savings Service Company (VPSC) and changed name to LienVietPostBank. • Became a member of the World Savings & Retail Banking Institute (WSBI).[5] |
| 2011 | • Moved headquarters to Ho Chi Minh City |
| 2015 | • Integrated LienVietPostBank’s ATM system into Smartlink.[6] |
| 2016 | • Officially launched Vi Viet E-wallet – a payment gateway and a financial management tool. • Vi Viet became the winner of the UNCDF SHIFT Challenge Fund Second Window, granted US$325,000 to promote financial inclusion for Vietnamese women. • Moved headquarters to Hanoi |
| 2017 | • LienVietPostBank is listed on the UPCOM stock exchange as LPB[7] |
Key financial figures Edit
| Unit: USD million | 2013[1] | 2014[1] | 2015[1] | 2016[1] | 2017[1] | 2018H1[1] |
|---|---|---|---|---|---|---|
| Total Assets | 3,784 | 4,745 | 4,807 | 6,402 | 7,288 | 7,765 |
| Owners’ Equity | 346 | 348 | 340 | 376 | 419 | 432 |
| Income before Tax | 32 | 25 | 19 | 61 | 79 | 29.4 |
| Net income | 27 | 22 | 16 | 48 | 61 | 24.1 |
| Return on average equity (ROAE) (%) | 7.72% | 6.36% | 4.67% | 13.34% | 15.45% | 11.4% |
| Non-performing loans (NPL) (%) | 2.48% | 1.1% | 0.88% | 1.08% | 1.04% | 0.96% |
| Dividend payout ratio (%/year) | 8.00% | 6.00% | 4.5% | 10% | 15% | 10% |
References Edit
- ^ a b c d e f g Annual Reports http://finance.vietstock.vn/LPB/tai-tai-lieu.htm
- ^ Top 500 largest private companies in Vietnam in 2017 http://vnr500.com.vn/Charts/Index?chartId=2&year=2017
- ^ LienVietPostBank is among the highest rated private commercial banks in Vietnam (Vietnamese) http://research.lienvietpostbank.com.vn/lienvietpostbank-duoc-moodys-xep-hang-cao-nhat-trong-cac-ngan-hang-co-phan
- ^ "Retail banks prepare strategies to serve nation's poor | Business | Vietnam+ (VietnamPlus)". 22 May 2014.
- ^ http://english.thesaigontimes.vn/Home/business/financial-markets/31563/La-Poste-Group-strikes-deal-to-assist-LPB .html
- ^ Him Lam JSC sells entire stake in LienVietPostBank http://vietnamnews.vn/economy/379141/him-lam-jsc-sells-entire-stake-in-lienvietpostbank.html
- ^ Vietnam's LienVietPostBank plans selling 25 percent to foreigner investors: media https://www.reuters.com/article/us-lienvietpostbank-sale/vietnams-lienvietpostbank-plans-selling-25-percent-to-foreigner-investors-media-idUSKCN1C91NP