Mr. Pham Phu Khoi will be Senior Advisor to the Board of Directors of Loc Phat Bank Vietnam (LPBank)

Loc Phat Bank Vietnam ( LPBank ) announced that Mr. Pham Phu Khoi will be the Senior Advisor to the Board of Directors of LPBank. The announcement ceremony took place on the morning of September 26, 2024, at the Head Office, 210 Tran Quang Khai, Hoan Kiem, Hanoi.

Mr. Ho Nam Tien - Vice Chairman of the Board of Directors and General Director of LPBank (right) presented flowers to congratulate Mr. Pham Phu Khoi (left).

This decision is part of LPBank 's strategy to create strong and comprehensive changes, while strengthening management capacity and improving the quality of senior personnel. Mr. Pham Phu Khoi is expected to be a key factor, contributing to the implementation of a strong growth strategy, sustainable and effective development, with the goal of making LPBank a leading retail bank, a bank for everyone. Mr. Pham Phu Khoi is a prominent and influential figure in the field of finance and banking in Vietnam , with more than 37 years of experience. He was born in 1963, graduated from Wharton School, University of Pennsylvania, USA with a Master's degree in Business Administration majoring in Finance. Previously, Mr. Khoi studied a Master's degree in Aviation Economics at Riga Civil Aviation University, Latvia (former Soviet Union). In addition, Mr. Khoi completed the International Executive course at INSEAD Business School, Fontainebleau, France.

Mr. Pham Phu Khoi is expected to be a key factor contributing to LPBank's sustainable development.

He has many years of experience holding many senior leadership positions at large domestic and international financial and banking institutions. He was Deputy CEO, Director of Financial Markets, Director of VPBank's Asset and Liability Management Center, Chairman of VPBank Securities Company (VPBS); General Director - ACB Securities Company (ACBS); Executive Director - America Merrill Lynch Bank, Singapore; Director of Emerging Markets Credit Business Area, Director of Vietnam - Standard Chartered Bank, Singapore; Manager of Asia Corporate Bond Portfolio at Barclays Capital Asia - Hong Kong; Director of Northeast Asia - Vietnam Airlines Corporation ( Vietnam Airlines )... Currently, Mr. Khoi is Chairman of the Board of Directors of Vietnam Investment Credit Rating Joint Stock Company (VIS Rating); Vice Chairman of Vietnam Bond Market Association, Lecturer of VBMA training courses. On behalf of LPBank's Board of Directors, Mr. Ho Nam Tien - Vice Chairman of the Board of Directors and General Director presented the appointment decision and delivered a speech assigning tasks to the new Senior Advisor to the Executive Board. Mr. Tien said: "I believe that with his extensive experience, Mr. Pham Phu Khoi will maximize his abilities, contributing with the Board of Directors to realize the vision of building LPBank into one of the leading financial institutions, not only providing high-quality products and services but also being an ideal workplace for employees, while contributing to the sustainable development of LPBank." Responding to the expectations of the Board of Directors, Mr. Pham Phu Khoi shared: "This is not only an honor but also a great responsibility. With the experience accumulated over many years of working in important positions of large financial institutions and banks, I pledge to maximize my abilities to contribute to the development of LPBank."

LPBank's Board of Directors took a souvenir photo with Mr. Pham Phu Khoi (middle) at the appointment ceremony.

LPBank is implementing a strong transformation strategy, combined with sustainable development and prudence in business operations. Strengthening the leadership team will be a lever to help the Bank reach new heights, affirming its leading position in the banking and finance sector in the Vietnamese market. At the end of the first two quarters of the year, LPBank recorded a growth rate of 142% when earning VND 5,919 billion in pre-tax profit. As of June 30, LPBank was one of the banks with the highest pre-tax profit growth rate in the system. LPBank also ranked 2nd in the entire banking industry with ROE reaching 26.1% and was the bank with the highest growth rate when increasing by 6.9%. According to the latest statistics, LPBank is in the top joint stock banks contributing the most to the budget in 2023 with nearly VND 1,900 billion, equivalent to 27% of the total pre-tax profit of this bank. In the last 3 years, LPBank has contributed more than 4,460 billion VND to the state budget. The amount of money contributed to the budget is among the top, demonstrating the bank's social responsibility and commitment to the community, while also proving LPBank's stable growth, creating trust for investors and customers./.

K.Oanh