Lien Viet Post Joint Stock Commercial Bank | APEA - Asia Pacific Enterprise Awards Asia Pacific Enterprise Awards
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CORPORATE EXCELLENCE CATEGORY

Lien Viet Post Joint Stock Commercial Bank

Information about the Company
Lien Viet Post Joint Stock Commercial Bank or LPBank, formerly known as LienVietPostBank and LienVietBank. It operates under Banking License No. 91/GP-NHNN issued by the Governor of the State Bank of Vietnam on 28th March 2008. In July 2011, Vietnam Post Corporation (VNPost) became the bank's major shareholder by contributing capital to the bank equal to the total value of the Vietnam Postal Savings Service Company (VPSC).

Besides that, LPBank and VNPost signed a 50-year cooperation agreement. LienVietBank then changed its name to Lien Viet Post Joint Stock Commercial Bank and became the first postal bank in Vietnam. This gives LPBank the opportunity to be present in 63 cities and provinces with 90% coverage at the communal level around the country. In May 2023, the bank adopted LPBank as the new official brand name.

After 15 years of operation, LPBank is now getting closer to the target of being in the top 10 largest commercial banks in terms of assets. By May 2023, the bank's customer base has reached 7 million clients and its chartered capital is worth VND 17,291 billion (USD 729 million). LPBank is providing banking products and services throughout 561 bank-owned branches and transaction offices, and over 300 postal transaction offices across all the 63 cities and provinces in Vietnam.

LPBank aims to become the most trusted financial partner and a top choice for individuals, households, and SMEs in rural and urban areas. Its mission is to integrate and contribute to local economies' development, fostering prosperity via comprehensive, professional, and effective financial services.

Corporate Culture & Company Activities
The bank's core values include Integrity, Responsibility, Solidarity, Creativity, and Customer Focus. The bank has a long-term strategy to build up its corporate culture, focusing on training, internal communication, team-building, and philanthropic programs.

"Integrate social responsibility into business” is LPBank’s long-term business awareness over the last 15 years. Key CSR programs include the sponsoring of construction or equipment for over 250 schools, the allocation of more than USD 20 million for the needy (poverty alleviation, heroic mothers, relatives of martyrs, and wounded soldiers), the allocation of more than USD 15 million for healthcare, the allocation of more than USD 10 million for sport and culture activities, and the allocation of more than USD 10 million for infrastructural construction.

Thus, LPBank has been recognized as one of the best CSR banks in Vietnam.
Achievements and Impact
To date, LPBank's total assets have exceeded USD 1.5 billion. On August 15, 2023, the international credit rating agency, Moody's Investors Service (Moody's), continued to maintain LPBank's long-term deposit/long-term issuer rating at B1 with a stable outlook.

In addition to maintaining the credit rating according to Moody's, LPBank was also recently ranked 33/100 by Brand Finance - the world's leading organization in brand valuation - among the most valuable brands in Vietnam 2023. Concurrently, the value of the brand has reached USD 248.84 million, the brand rating index (Brand Rating) is currently rated AA-, and the brand strength index (Brand Strength Index) has reached 65.34 points.

Future Direction
The bank's visionary management team is fully committed to building a rising star in the banking sector. Thus, LPBank is strongly reforming itself institutionally and technologically. The bank will continue developing retail-driven business models, focusing on digitalization to improve banking services to customers, implementing stringent risk management practices, and adopting international ESG standards.

The bank’s key growth initiatives include growing the retail segment supported by its nationwide presence and strong brand name as a bank for everyone, further increasing the proportion of retail loans, developing low-cost CASA funding based on IT infrastructure developed, improving NIM, growing the sustainable non-interest income from retail banking fees and wholesale banking fees, and improving insurance-cross sale.

CORPORATE EXCELLENCE CATEGORY

Lien Viet Post Joint Stock Commercial Bank

Information about the Company
Lien Viet Post Joint Stock Commercial Bank or LPBank, formerly known as LienVietPostBank and LienVietBank. It operates under Banking License No. 91/GP-NHNN issued by the Governor of the State Bank of Vietnam on 28th March 2008. In July 2011, Vietnam Post Corporation (VNPost) became the bank's major shareholder by contributing capital to the bank equal to the total value of the Vietnam Postal Savings Service Company (VPSC).

Besides that, LPBank and VNPost signed a 50-year cooperation agreement. LienVietBank then changed its name to Lien Viet Post Joint Stock Commercial Bank and became the first postal bank in Vietnam. This gives LPBank the opportunity to be present in 63 cities and provinces with 90% coverage at the communal level around the country. In May 2023, the bank adopted LPBank as the new official brand name.

After 15 years of operation, LPBank is now getting closer to the target of being in the top 10 largest commercial banks in terms of assets. By May 2023, the bank's customer base has reached 7 million clients and its chartered capital is worth VND 17,291 billion (USD 729 million). LPBank is providing banking products and services throughout 561 bank-owned branches and transaction offices, and over 300 postal transaction offices across all the 63 cities and provinces in Vietnam.

LPBank aims to become the most trusted financial partner and a top choice for individuals, households, and SMEs in rural and urban areas. Its mission is to integrate and contribute to local economies' development, fostering prosperity via comprehensive, professional, and effective financial services.

Corporate Culture & Company Activities
The bank's core values include Integrity, Responsibility, Solidarity, Creativity, and Customer Focus. The bank has a long-term strategy to build up its corporate culture, focusing on training, internal communication, team-building, and philanthropic programs.

"Integrate social responsibility into business” is LPBank’s long-term business awareness over the last 15 years. Key CSR programs include the sponsoring of construction or equipment for over 250 schools, the allocation of more than USD 20 million for the needy (poverty alleviation, heroic mothers, relatives of martyrs, and wounded soldiers), the allocation of more than USD 15 million for healthcare, the allocation of more than USD 10 million for sport and culture activities, and the allocation of more than USD 10 million for infrastructural construction.

Thus, LPBank has been recognized as one of the best CSR banks in Vietnam.
Achievements and Impact
To date, LPBank's total assets have exceeded USD 1.5 billion. On August 15, 2023, the international credit rating agency, Moody's Investors Service (Moody's), continued to maintain LPBank's long-term deposit/long-term issuer rating at B1 with a stable outlook.

In addition to maintaining the credit rating according to Moody's, LPBank was also recently ranked 33/100 by Brand Finance - the world's leading organization in brand valuation - among the most valuable brands in Vietnam 2023. Concurrently, the value of the brand has reached USD 248.84 million, the brand rating index (Brand Rating) is currently rated AA-, and the brand strength index (Brand Strength Index) has reached 65.34 points.

Future Direction
The bank's visionary management team is fully committed to building a rising star in the banking sector. Thus, LPBank is strongly reforming itself institutionally and technologically. The bank will continue developing retail-driven business models, focusing on digitalization to improve banking services to customers, implementing stringent risk management practices, and adopting international ESG standards.

The bank’s key growth initiatives include growing the retail segment supported by its nationwide presence and strong brand name as a bank for everyone, further increasing the proportion of retail loans, developing low-cost CASA funding based on IT infrastructure developed, improving NIM, growing the sustainable non-interest income from retail banking fees and wholesale banking fees, and improving insurance-cross sale.