May 07, 2021 – “Bau Thuy” become BOD Vice Chairman

On May 6, 2021, in the first meeting of LienVietPostBank’s Board of Directors (BOD) held right after the General Meeting of Shareholders in 2021, Mr. Nguyen Duc Thuy, also known as “Bau Thuy” was elected by the Board of Directors as Vice Chairman of LienVietPostBank’s Board of Directors.

As a person with many years of experience in holding leadership positions at large enterprises, the Board of Directors believes that as Vice Chairman of LienVietPostBank’s BOD, Mr. Thuy will actively contribute to the Bank’s operations, together with the members of the Board of Directors, continue to build a solid foundation for LienVietPostBank to realize its business strategies and affirm the Bank’s position in the new development phase.

During this meeting, the LienVietPostBank’s BOD discussed and proposed a plan to implement the contents approved by the General Meeting of Shareholders in 2021, such as: business plan 2021; plans to increase charter capital to VND 15,700 billion through the issuance of shares, including issuing 265 million shares to existing shareholders (VND 2,650 billion), issuing 35 million shares (VND 350 billion) under the Employee Stock Ownership Plan (ESOP), private placement of 66.7 million shares to foreign investors, raising the maximum foreign ownership ratio in the bank to 9.99%, dividend payout in 2020 in shares up to 12% from the issuance of 129 million shares (VND1,290 billion), and many other important contents.

By the end of March 31, 2021, LienVietPostBank’s total assets reached more than VND 245,200 billion, an increase of over 20% compared to the same period last year. Capital mobilization from economic institutions and residents continued to grow well, reaching nearly VND206,300 billion. Market 1’s outstanding loans reached over VND 183,100 billion, an increase of more than VND 6,100 billion compared to the end of 2020. Notably, the retail growth in credit growth in the first quarter of 2021 was more than 80%. In particular, the bank’s pre-tax profit reached VND 1,112 billion, nearly double compared to the same period last year. This is the quarter with the best business results ever at LienVietPostBank, even surpassing the profit of some years ago.