LPBank has a new general director

Mr. Ho Nam Tien, who joined LPBank in 2010, has just been appointed as the bank's general director since today.

The State Bank has just issued an official dispatch approving the appointment of Mr. Ho Nam Tien as General Director of Lien Viet Post Bank (LPBank) from June 21.

Mr. Ho Nam Tien, new General Director of LPBank. Photo: LPB — Mr. Ho Nam Tien, new General Director of LPBank. Photo: *LPB*

Mr. Tien was born in 1971, has a Master's degree in Banking. He has 30 years of experience working in the field of finance and banking and has held senior management roles in financial organizations and institutions. He joined LPBank in 2010 and has held senior leadership positions for 13 years.

The Board of Directors expects LPBank's new CEO to lead the bank to fulfill its strategic goals for the 2023-2028 period. In particular, digital transformation and digitization of banking operations are given special attention to provide quality financial products and services and maximize benefits for customers. At this year's annual meeting, LPBank aims to become the leading retail bank in Vietnam.

In mid-March, Mr. Pham Doan Son, who has been with LPBank since 2008, resigned from the position of CEO for personal reasons. The change in senior personnel at the bank took place just a few months after Mr. Nguyen Duc Thuy became Chairman of the Board of Directors.

Mr. Thuy was elected to the Board of Directors of LPBank from the end of April 2021 and became Vice Chairman of the bank about a week later. At the end of 2022, Mr. Thuy was elected to the position of Chairman of the Board of Directors.

This year, LPBank aims to achieve pre-tax profit of VND6,000 billion, an increase of 11% compared to last year. The bank also submitted a plan to increase capital by more than VND11,000 billion through paying dividends in shares (increasing capital by VND3,300 billion) and issuing additional capital (more than VND8,000 billion).

Of which, the bank plans to issue 500 million shares (VND5,000 billion) to existing shareholders, issue 10 million shares (VND100 billion) under the employee stock option program (ESOP) and issue 300 million shares (VND3,000 billion) privately to foreign investors.

Minh Son

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