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Loc Phat Bank Vietnam opens new LPBank HCM Headquarters and Southern Headquarters Office at Thaisquare The Merit Building: Affirming its position and development strategy

Việt NamViệt Nam01/08/2024

On the journey of strong transformation, Loc Phat Commercial Joint Stock Bank (LPBank) Vietnam has just officially opened the new LPBank Ho Chi Minh Headquarters and Southern Headquarters Office at Thaisquare The Merit Building. The event marks a new milestone, affirming the scale and continuous development of LPBank to become one of the banks with great stature and influence in the Southern market.

Representatives of the State Bank of Vietnam , Ho Chi Minh City Branch , leaders of LPBank and the Southern Headquarters Office cut the ribbon at the opening event.

Pioneering in raising its position With an increasingly large scale, on July 31, 2024, LPBank opened the new LPBank Ho Chi Minh Headquarters and Southern Headquarters Office at Thaisquare The Merit Building, (43 - 45 - 47 Nguyen Thi Minh Khai - Ben Nghe Ward - District 1), welcoming a new journey of success after officially changing its name to Loc Phat Vietnam Joint Stock Commercial Bank. In the journey of more than 16 years of development, LPBank has affirmed its reputation and position as one of the 14 most important Vietnamese banks in the system, ranked in the Top 500 banks with the highest brand value globally in 2024, and won many prestigious awards at home and abroad. Choosing Thaisquare The Merit Building as the new Headquarters for LPBank Ho Chi Minh and Southern Headquarters Office shows the Bank's strategic vision of brand positioning. As a pioneer bank investing in both the number of branches and service quality across the system, LPBank is not only increasing its presence in a large network of operations, covering 63 provinces and cities across the country, but also continuously upgrading, bringing outstanding appearances and worthy facilities to key branches and transaction offices in prime locations.

LPBank Ho Chi Minh City 's new headquarters and Southern Headquarters Office at Thaisquare The Merit Building, (43 - 45 - 47 Nguyen Thi Minh Khai - Ben Nghe Ward - District 1)

The new headquarters of LPBank Ho Chi Minh City and the Southern Headquarters Office located in the Grade A standard building in the center of District 1, Ho Chi Minh City is considered a standard symbol of green office buildings, with a total usable area of ​​up to 12,861 m2, will be a gathering place for many talented personnel in the Finance - Banking industry in the Southern region with a friendly and different working environment, bringing a wonderful experience space with the best and most classy financial services for customers, thereby clearly demonstrating the motto "Taking customers as the center" of LPBank. With modern facilities, sustainable design, focusing on promoting creativity and cooperation, the new headquarters of LPBank Ho Chi Minh City and the Southern Headquarters Office mark a comprehensive transformation, opening up opportunities for cooperation and strong business development in this market, while demonstrating the Bank's strategic vision in moving towards prosperity and prosperity with customers, the community and the country. Promoting development strategy in the Southern market Along with the wave of artificial intelligence and many breakthrough mechanisms, Ho Chi Minh City is at the ideal time to realize its position as the leading financial center in the region. In the first quarter of 2024, Ho Chi Minh City's GRDP (Gross Regional Product) increased by 6.54%, the highest increase in the past 5 years, much higher than the same period last year. This result reflects the significant contribution of bank credit activities that have supported businesses to expand production and business, promoting economic recovery and growth. With the spirit of "Strong growth - Comprehensive efficiency", LPBank is a bright spot in the picture of the banking and financial system. In the first 6 months of 2024, LPBank recorded pre-tax profit of VND 5,919 billion, an increase of 142% over the same period. Previously, the bank's pre-tax profit in the first 3 months of the year reached more than VND 2,886 billion. With a profit in the second quarter of over VND3,033 billion, LPBank recorded profit growth for two consecutive quarters and increased nearly 3.5 times compared to the same period last year. The Southern Headquarter Office is especially beneficial for promoting marketing, expanding customer base, spreading LPBank's brand, products and services strongly in the largest market in the country. This event also continues to affirm LPBank's outstanding efforts in the journey of innovation, comprehensive development according to the set strategy and vision of becoming the No. 1 retail bank in Vietnam.

Mr. Le Minh Tam, Permanent Vice Chairman of LPBank Board of Directors, spoke at the opening ceremony.

Sharing about this opening event, Mr. Le Minh Tam, Standing Vice Chairman of LPBank's Board of Directors, said: "LPBank has been and is having many outstanding activities in the Southern market through a diverse system of products and services, bringing many benefits to customers. The presence of LPBank in Ho Chi Minh City with a large-scale, modern headquarters in the city center, affirms its determination and strategy to develop more strongly in this key market, helping customers in Ho Chi Minh City in particular and the South in general to have the best experiences and services". As the old saying goes, "choose the face, entrust the gold", LPBank Ho Chi Minh City and the Southern Headquarters Office choosing Thaisquare The Merit Building as their new headquarters will open a new financial coordinate, an important element in the bank's strategy to "capture" the Southern market share and accompany the aspiration to become the leading financial center in the region of Ho Chi Minh City.

On July 15, LPBank officially changed its name to Loc Phat Bank Vietnam. Accordingly, the word "Loc" means luck, opening up opportunities for cooperation and business development not only for customers but also for the Bank itself. "Phat" is a good result of cooperation and development, and at the same time demonstrates the Bank's vision of moving towards prosperity and well-being with customers, the community and the country. The change of name and brand identity marks the beginning of a new development phase of LPBank with a new business strategy, aiming for new values ​​for customers, partners and shareholders.

K.Oanh


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