LPBank
Native name
Ngân hàng TMCP Bưu điện Liên Việt
TypeJoint-stock
IndustryBanking and Finance
Founded28 March 2008
Headquarters
Hanoi
,
Vietnam
Key people
Nguyen Duc Thuy (Chairman)
Ho Nam Tien (CEO)
Total assetsVND 365,000 billion (2023) (equivalent to USD 15 billion)
Number of employees
10,600 (As of Nov 30 2023)
Websitewww.lpbank.com.vn

LPBank (old name: LienVietBank or LienVietPostBank) is a Vietnamese retail bank based in Hanoi.

Background

Lien Viet Post Joint Stock Commercial Bank, or LPBank in short, formerly known as LienVietBank before 2011, is a joint stock 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, to merchants nationwide.[1]

LPBank is ranked 27th in the Top 500 private enterprises in Vietnam in 2022.[2]

In May 2023, the Bank adopted LPBank as its new official abbreviated name and brandname.

By October 2023, the bank’s customer base will reach 7 million clients. Its charter capital is 25,576 billions (USD 1.05 billion). LPBank is providing banking products and services through out 566 bank-own branches and transaction offices and over 513 postal transaction offices across all 63 cities and provinces in Vietnam. [3]

Milestones

TimeMilestones
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]
  • 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]
2020
  • LPB is listed on HOSE (Ho Chi Minh City Stock Exchange).
2023
  • Changed abbreviated name to LPBank.
  • Launched T24 Corebanking Project.

Key financial figures

Unit: USD million2013[1]2014[1]2015[1]2016[1]2017[1]2018[1] 2021 2022 By end of 3rd Q, 2023
Total Assets3,7844,7454,8076,4027,2887,765 11,920 14,000 15,000
Owners’ Equity346348340376419432 620 710 1,000
Profit before Tax 150 230 150
Revenue 950 1,230 NA
Return on average equity (ROAE) (%)7.72%6.36%4.67%13.34%15.45%11.4% 18.52% 22.08% NA
Non-performing loans (NPL) (%)2.48%1.1%0.88%1.08%1.04%0.96% 1.24% 1.46% NA
Dividend payout ratio (%/year)8.00%6.00%4.5%10%15%10% 15% 19% NA

References

  1. 1 2 3 4 5 6 7 Annual Reports http://finance.vietstock.vn/LPB/tai-tai-lieu.htm
  2. ↑ Top 500 largest private companies in Vietnam in 2017 http://vnr500.com.vn/Charts/Index?chartId=2&year=2017
  3. ↑ 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
  4. ↑ "Retail banks prepare strategies to serve nation's poor | Business | Vietnam+ (VietnamPlus)". 22 May 2014.
  5. ↑ http://english.thesaigontimes.vn/Home/business/financial-markets/31563/La-Poste-Group-strikes-deal-to-assist-LPB .html
  6. ↑ Him Lam JSC sells entire stake in LienVietPostBank http://vietnamnews.vn/economy/379141/him-lam-jsc-sells-entire-stake-in-lienvietpostbank.html
  7. ↑ 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
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