LPBank completed 61.45% of the annual profit plan, main driving force from retail credit

ANTD.VN - Lien Viet Post Bank (LPBank, stock code LPB) has just announced its business results for the third quarter of 2023 and the first three quarters of the year.

Accordingly, in the first 3 quarters of the year, the Bank recorded a total outstanding loan balance of VND 263,640 billion, equivalent to a growth rate of 11.80% compared to the beginning of the year; capital mobilization reached nearly VND 274,580 billion, an increase of 9.4% compared to the end of 2022.

Tăng trưởng tín dụng LPBank vượt trội so với mặt bằng chung ảnh 1

LPBank's credit growth surpasses the general level

LPBank's credit growth momentum in the first 9 months of the year mainly came from retail lending, thanks to taking advantage of its large network to develop the small retail customer segment in rural areas, combining traditional banking and digital banking to provide a variety of products and services suitable to the needs of many customer segments.

In the third quarter, LPBank's pre-tax profit reached VND1,241 billion, up 41% compared to the previous quarter. However, the accumulated pre-tax profit of the first three quarters of the year reached VND3,678 billion, down 24% compared to the same period last year but still fulfilling 61.45% of the annual profit plan. The reason, according to LPBank, is due to the impact of many fluctuations in the world and domestic economic situation, at the same time the Bank implemented policies to reduce interest rates to support customers.

LPBank said that the Bank has been continuing to promote digitalization, actively investing in technological capacity and service quality, while expanding its cooperation network and linking with prestigious financial institutions to perfect the modern digital ecosystem, bringing the best experiences to customers.

At the end of September 2023, LPBank signed a contract to provide T24 Core Banking solution with Temenos Group - a leading core banking solution provider based in Switzerland. LPBank expects this project to open a breakthrough in core technology platform and be an important milestone in the digital transformation process for the Bank.

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