LPBank

This article is about the banking company. For volleyball club, see Thông tin Liên Việt Post Bank.

LienVietPostBank

Native name	Ngân hàng TMCP Bưu điện Liên Việt
Company type	Private
Industry	Banking and Finance
Founded	28 March 2008
Headquarters	Hanoi , Vietnam
Key people	Nguyen Dinh Thang (Chairman) Pham Doan Son (CEO)
Total assets	VND 175,881 billion (2018) (equivalent to USD 7.7 billion)
Owner	VND 9,787 billion (As of June 30th 2018)
Number of employees	8,178 (As of June 30th 2018)
Website	www.lienvietpostbank.com.vn

LienVietPostBank is a Vietnamese retail bank based in Hanoi.

Background

Lien Viet Post Joint Stock Commercial Bank, formerly known as LienVietBank before 2011, is a private Vietnamese retail bank providing banking products and services through its own transaction offices across 63 cities and provinces, postal transaction offices and Vi Viet, its mobile wallet developed in-house, merchants nationwide .

LienVietPostBank is considered to be in the top 10 biggest private commercial banks in Vietnam in terms of assets and equity, ranks 107th in VNR500 - Top 500 largest enterprises and 42nd in Top 500 private enterprises in Vietnam in 2017. Currently, LienVietPostBank is the exclusive bank to provide postal savings services and other banking services throughout more than 10,000 post offices in Vietnam through its strategic 50-year cooperation agreement with Vietnam Post Corporation.

At the end of 2017, Moody's assigned first-time ratings to LienVietPostBank, which stated B2 ratings for Long-term local currency deposit, Long-term foreign currency deposit and Long-term local and foreign currency issuer. In addition, Moody’s also assigned LienVietPostBank’s short-term local and foreign currency deposits and issuer ratings of Not Prime, Baseline Credit Assessment (BCA) and adjusted BCA of b2 and Counterparty Risk Assessments of B2 (cr)/NP (cr). These are the highest ratings given to a private Vietnamese commercial bank by Moody's.

Milestones

Time	Milestones
2008	• Established as LienVietBank and opened the first branch in Hau Giang Province respectively in March and May 2008 with the charter capital of VND 3,300 billion. The founding shareholders included Him Lam Corporation, Saigon Trading Group and Southern Airport Service Company.
2011	• Signed a 50-year co-operation agreement with Vietnam Post to merge with Vietnam Postal Savings Service Company (VPSC), one of the most notable M&A events in Vietnam in 2011, and changed name to LienVietPostBank. LienVietPostBank becomes the exclusive bank in providing postal savings services and other banking services throughout more than 10,000 post offices. • Became a member of the World Savings & Retail Banking Institute (WSBI).
2011	• Moved headquarters to Ho Chi Minh City
2015	• Integrated LienVietPostBank’s ATM system into the biggest ATM network of Vietnam – Smartlink.
2016	• Officially launched Vi Viet E-wallet – a payment gateway and a financial management tool. • Vi Viet became the winner of the UNCDF SHIFT Challenge Fund Second Window, granted 325,000 USD to promote financial inclusion for Vietnamese women. • Moved headquarters to Hanoi
2017	• LienVietPostBank is listed on the UPCOM stock exchange as LPB

Main shareholders

Vietnam Post Corporation (VNPost): 11.45%

(Him Lam Corporation is no longer a shareholder of LienVietPostBank from June 2017)

Network

As of June 30, 2018, LienVietPostBank's network in Vietnam includes:

▪ Bank network: 327 branches and transaction offices.

▪ Postal transaction office (PTO) network: 975 PTOs.

▪ Transaction points for Vi Viet mobile wallet (shops, kiosks, retail outlets): more than 20,500

Network expansion plan (By 2020):

▪ Presence in every districts of Vietnam with over 800 bank-owned branches and transaction offices in total.

▪ 50,000 Vi Viet transaction points in every commune of Vietnam.

Vi Viet e-wallet

Vi Viet was developed from 2015 by LienVietPostBank and launched in September 2016 as a multi-platform mobile wallet, currently supporting Android and iOS operating systems as well as available on its website. Besides being a payment gateway for various e-commerce transactions, Vi Viet is also an efficient financial management tool for all individuals, households and small businesses.

Current features available on Vi Viet include online payment and transfer, cash in/cash out from/to most domestic bank account, utilities bill payments (electricity, water, internet, television, apartment fees, telecommunication, tuition fee, etc.), online shopping (air tickets, hotel booking/reservation, e-commerce payment, etc.), mobile recharge, micro savings and micro loans. Vi Viet is expected to promote cashless payment and eventually financial inclusion in Vietnam, especially in suburban and rural areas. As of Q1 2018, there have been 2.1 million Vi Viet users and 18,000 stores/merchants accepting Vi Viet payment.

In 2018, Vi Viet was also selected by The Asian Banker magazine for the best mobile banking application in Vietnam. Previously, Vi Viet was awarded the runner-up prize for Financial Industry Application by the Asia-Pacific ICT Alliance Awards program for 2017.

Key financial figures

Unit: USD million	2013	2014	2015	2016	2017	2018H1
Total Assets	3,784	4,745	4,807	6,402	7,288	7,765
Owners’ Equity	346	348	340	376	419	432
Income before Tax	32	25	19	61	79	29.4
Net income	27	22	16	48	61	24.1
Return on average equity (ROAE) (%)	7.72%	6.36%	4.67%	13.34%	15.45%	11.4%
Non-performing loans (NPL) (%)	2.48%	1.1%	0.88%	1.08%	1.04%	0.96%
Dividend payout ratio (%/year)	8.00%	6.00%	4.5%	10%	15%	10%