LPBank's 'taste', Mr. Thuy is pouring money into which targets?

Real estate target?

The first notable sign is that Delta Construction Group announced the image of the topping out ceremony of the office building at 43-45-47 Nguyen Thi Minh Khai, Ben Nghe Ward, District 1, Ho Chi Minh City, invested by Ngoc Vien Dong Real Estate Investment Joint Stock Company, the event took place in September 2023.

Ngoc Vien Dong is a business belonging to the Tan Hoang Minh ecosystem, but the event backdrop printed an image of a building with the logo " LPBank ".

devastated lbbank vietnamnet 1249.jpeg — The topping out ceremony of the D'. Saint Raffles project featured the 'LPBank' logo of Lien Viet Post Joint Stock Commercial Bank. (Photo: Delta Group Fanpage)

After Mr. Do Anh Dung, Chairman of Tan Hoang Minh Group, was temporarily detained in October 2022, the group said it had found a partner to transfer the above project.

Tan Hoang Minh did not disclose specific information about the project's acquisition partner. It was only when Delta contractor, whether intentionally or unintentionally, "leaked" the perspective image of the high-rise building with the LPBank logo, that public opinion assumed that LPBank was the partner receiving the transfer of this project. Meanwhile, LPBank did not confirm the deal.

LPBank also shows that real estate is the bank's favorite "taste" when most recently, on November 22, LPBank and real estate group LTQ signed a comprehensive cooperation agreement.

Accordingly, LPBank will provide comprehensive financial solutions to LTQ Holdings to serve production and business activities, construction fields, investment in real estate projects, and production projects of the group and its member companies.

Established in 2011, LTQ Holdings is a developer of tourism , commercial, service and residential projects in Phu Quoc island district, Kien Giang province.

Energy and agriculture goals

Not only investing in real estate, LPBank's recent taste has also shown diversity when this bank continuously signed "huge" capital financing contracts for energy and agricultural projects.

A few days ago, LPBank announced a credit of VND2,000 billion for the green energy project of Ea Sup 1 Joint Stock Company (Ea Sup district, Dak Lak province) to support the enterprise with construction and operating costs.

Ea Sup 1 Joint Stock Company is a member company of the Xuan Thien Group ecosystem, a group chaired by Mr. Nguyen Van Thien (brother of Mr. Thuy). This is a multi-industry group, operating in the fields of energy, construction materials, agriculture, hotels - tourism, real estate, etc. In particular, in the energy sector, Xuan Thien has invested in more than 10 hydropower plants and 7 solar power projects nationwide.

Regarding LPBank's own investment activities in the energy sector, the bank's financial report also shows a long-term investment of VND300 billion in Viet Lao Electricity JSC.

In the business introduction, Dien Viet Lao informed that LPBank is both a major shareholder holding 9.23% of the company's charter capital and the main capital sponsor for the company to invest in projects.

Viet Lao Electricity is implementing 6 hydropower projects in Laos and Vietnam.

Returning to LPBank's cooperation activities, recently, the cooperation relationship between this bank and Mr. Duc's Hoang Anh Gia Lai Group (HAGL) has also become the focus of market attention.

*Bau Duc and Bau Thuy watched a football match together in Hanoi on the afternoon of October 23. (Photo: Trieu Viet Linh).*

The comprehensive cooperation agreement signed between the two sides on October 23 has opened up credit flows for HAGL to invest in the fields of cultivation and livestock breeding.

In addition, HAGL also just informed that from November 18-20, HAGL Chairman Doan Nguyen Duc brought LPBank's leadership delegation including two vice chairmen of the Board of Directors and a working delegation to visit agricultural projects invested by HAGL in Vietnam, Laos, and Cambodia.

Immediately after the trip, on November 23, HAGL announced the list of investors participating in the upcoming issuance of 130 million HAG shares, equivalent to VND 1,300 billion. One of the three participating investors is LPBank Securities (a subsidiary of LPBank) with the registration to buy 50 million HAG shares.

But on November 24, HAGL issued a document "correcting" the information about the list of investors expected to be offered for sale.

HAGL, chaired by Mr. Doan Nguyen Duc, suddenly canceled the list of investors planning to buy shares to update.

The reason the HAGL board of directors requested to cancel the resolution passed in the middle of this week was "due to negligence in the process of exchanging information, errors occurred". HAGL will adjust information about the list of investors expected to be offered for sale.

It is unclear whether there will be any changes in LPBank Securities investors, but this also shows a target area that LPBank is looking to invest in.

According to LPBank's business results report, in the first three quarters of the year, the bank achieved a total outstanding loan balance of VND 263,640 billion, equivalent to an increase of 11.8% compared to the beginning of the year, capital mobilization reached nearly VND 274,580 billion, an increase of 9.4% compared to the end of 2022.

In the third quarter, LPBank's pre-tax profit reached VND1,241 billion, up 41% over the previous quarter. LPBank's accumulated pre-tax profit in the first 3 quarters of 2023 reached VND3,678 billion, down 24% over the same period last year and completing 61.45% of the annual profit plan.