LPBank
Vietnamese retail bank
From Wikipedia, the free encyclopedia
Fortune Vietnam Joint Stock Commercial Bank or LPBank (previously known as: LienVietBank or LienVietPostBank) is a Vietnamese retail bank based in Hanoi. As of December 31, 2023, LPBank's total assets reached over VND382,953 billion,[1] up 17% from the beginning of the year. Market segment 1 mobilization activities reached VND285,342 billion;[2][3] credit growth reached VND39,686 billion with a rate of 16.83%, in line with the ceiling allowed by the State Bank of Vietnam.[4][5] As of the end of 2023, LPBank's NPL ratio was 1.26%, lower than the same period (1.45%) and much lower than the third quarter of 2023.[6][7][8]
 | |
Native name | Ngân hàng Lộc Phát Việt Nam |
|---|---|
| Company type | Joint-stock |
| Industry | Banking and Finance |
| Founded | March 28, 2008 |
| Headquarters | , Vietnam |
Key people | Nguyen Duc Thuy (Chairman) Ho Nam Tien (CEO) |
| Total assets | VND 365,000 billion (2023) (equivalent to USD 15 billion) |
Number of employees | 10,600 (As of Nov 30 2023) |
| Website | lpbank |
LPBank was granted a license to operate on March 28, 2008 with the original name LienVietBank and officially launched on May 1, 2008 with a charter capital of VND3,300 billion.[9][10] In 2011, LPBank changed its name to LienVietPostBank.[11][12][13][14]
The year 2023 marks the 15th year of operations, and the bank has updated its brand identity to a simplified, memorable, and easily readable format as LPBank.[15] In July 2024, LPBank will change its name to Fortune Vietnam Joint Stock Commercial Bank.[16]
Milestones
| Time | Milestones |
|---|---|
| 2008 |
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| 2011 |
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| 2015 |
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| 2016 |
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| 2017 |
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| 2020 |
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| 2023 |
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| 2024 |
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Key financial figures
| Unit: USD million | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2021 | 2022 | By end of 3rd Q, 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 3,784 | 4,745 | 4,807 | 6,402 | 7,288 | 7,765 | 11,920 | 14,000 | 15,000 |
| Owners’ Equity | 346 | 348 | 340 | 376 | 419 | 432 | 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 |
