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

What are your real estate targets?

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

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

Minh 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)

Following the temporary detention of Mr. Do Anh Dung, Chairman of Tan Hoang Minh Group, in October 2022, the group announced that it had found a partner to take over the aforementioned project.

Tan Hoang Minh did not disclose specific information about the partner acquiring the project. Only when the contractor Delta, whether intentionally or unintentionally, "leaked" renderings of the high-rise building bearing the LPBank logo, did the public speculate that LPBank was the partner acquiring the project. Meanwhile, LPBank has also not commented on the transaction.

LPBank also demonstrated that real estate is a preferred investment sector, as most recently, on November 22nd, LPBank and the LTQ real estate group signed a comprehensive cooperation agreement.

Accordingly, LPBank will provide comprehensive financial solutions to LTQ Holdings to support its business operations, construction activities, real estate investment projects, and manufacturing 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

Beyond investing in real estate, LPBank's recent investment strategy has shown diversification, with the bank continuously signing large-scale financing agreements for energy and agricultural projects.

A few days ago, LPBank announced a credit facility of VND 2,000 billion for the green energy project of Ea Súp 1 Joint Stock Company (Ea Súp district, Dak Lak province) to support the company with construction and operating costs.

Ea Súp 1 Joint Stock Company is a member enterprise of the Xuân Thiện Group ecosystem, a conglomerate chaired by Mr. Nguyễn Văn Thiện (brother of bầu Thụy). This is a multi-sector conglomerate operating across various fields including energy, construction materials, agriculture, hotels and tourism, and real estate. In the energy sector alone, Xuân Thiện has invested in more than 10 hydropower plants and 7 solar power projects nationwide.

Regarding LPBank's investment activities in the energy sector, the bank's financial report also shows a long-term investment of VND 300 billion in Vietnam-Laos Electricity Joint Stock Company.

In its company introduction, Viet Lao Electric stated that LPBank is both a major shareholder holding 9.23% of the company's charter capital and the main financier for the company's investment projects.

Vietnam-Laos Electricity is currently implementing six hydropower projects in Laos and Vietnam.

Returning to LPBank's cooperation activities, recently, the partnership between this bank and Hoang Anh Gia Lai Group (HAGL) of Chairman Duc has also become a focal point 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 parties on October 23rd has unlocked the flow of credit capital for HAGL to invest in the fields of crop cultivation and livestock farming.

In addition, HAGL also announced that from November 18-20, HAGL Chairman Doan Nguyen Duc led a delegation of LPBank leaders, including two Vice Chairmen of the Board of Directors and a working group, to visit agricultural projects invested in by HAGL in Vietnam, Laos, and Cambodia.

Immediately after the trip, on November 23rd, 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), which registered to purchase 50 million HAG shares.

However, on November 24th, HAGL issued a document "correcting" the information regarding the list of prospective investors for the share offering.

HAGL, with Mr. Doan Nguyen Duc as Chairman of the Board of Directors, suddenly canceled the list of investors planning to buy shares for updating.

The reason HAGL's board of directors requested the cancellation of the resolution passed earlier this week is "due to negligence in the information exchange process, resulting in errors." HAGL will adjust the information regarding the list of prospective investors for the offering.

It is unclear whether there have been any changes to LPBank Securities' investor, however, this also reflects 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 total outstanding loans of VND 263,640 billion, equivalent to an increase of 11.8% compared to the beginning of the year, and mobilized capital of 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 VND 1,241 billion, an increase of 41% compared to the previous quarter. Cumulative pre-tax profit for the first three quarters of 2023 reached VND 3,678 billion, a decrease of 24% compared to the same period last year and achieving 61.45% of the annual profit target.