May 15, 2023: LPBank officially the acronym of Lienvietpostbank

Lien Viet Post Joint Stock Commercial Bank has been approved by the State Bank of Vietnam to change its abbreviation from Lienvietpostbank to LPBank. Along with intensive and comprehensive transformation strategy, LPBank aims to gradually become the leading retail bank in Vietnam in the period of 2023 – 2028.

On May 12, 2023, the State Bank of Vietnam issued Decision No. 899/QD-NHNN approving for Lien Viet Post Joint Stock Commercial Bank to change its English abbreviation to LPBank (pronounced: el – pi – bank). Changing into a new abbreviation is an important event of the Bank.  LPBank is considered to correctly grasp the trend of existing banks, the abbreviation is as short as possible, easy to read and remember.

The changes of LPBank’s name and brand recognition mark the Bank’s transformation into a new intensive and comprehensive transformation, aiming to become a leading retail bank in Vietnam. In the coming time, LPBank will continue changing its logo and brand recognition to synchronize services and products and improve customer experience.

After more than 15 years of establishment and development, LPBank gradually grows, affirming its position in the banking and financial market as one of the joint stock commercial banks with a large network of more than 1,200 transaction points nationwide.

At the end of the first quarter of 2023, in the context of the difficult economy, LPBank’s business activities still achieved some positive highlights thanks to optimizing capital usage by adjusting capital flexibly in harmony with credit growth while ensuring operational safety ratios. Capital mobilization reached more than 272,500 billion VND, outstanding loans reached 242,100 billion VND, LPBank is in the top 10 banks with the lowest bad debt ratio in the first quarter of 2023.