LPBank has a new CEO.

Mr. Ho Nam Tien, who joined LPBank in 2010, has been appointed as the bank's general director effective today.

The State Bank of Vietnam has just issued a document approving the appointment of Mr. Ho Nam Tien as General Director of Lien Viet Post Bank (LPBank) effective from June 21st.

Mr. Ho Nam Tien, the new General Director of LPBank. Photo: LPB

Mr. Tien, born in 1971, holds a Master's degree in Banking. He has 30 years of experience working in the finance and banking sector, holding senior management roles at various financial institutions. He joined LPBank in 2010 and has served in senior leadership positions for 13 years.

The new CEO of LPBank is expected by the Board of Directors to lead the bank in achieving its strategic goals for the 2023-2028 period. In particular, digital transformation and the digitalization of banking operations are emphasized to provide high-quality financial products and services and maximize benefits for customers. At this year's annual meeting, LPBank set a target of becoming the leading retail bank in Vietnam.

In mid-March, Mr. Pham Doan Son, who had been with LPBank since 2008, resigned from his position as CEO for personal reasons. This senior management change at the bank occurred just a few months after Mr. Nguyen Duc Thuy took over as Chairman of the Board of Directors.

Mr. Thuy was elected to the LPBank Board of Directors in late April 2021 and became Vice Chairman of the bank about a week later. At the end of 2022, Mr. Thuy was elected Chairman of the Board of Directors.

This year, LPBank aims for a pre-tax profit of VND 6,000 billion, an 11% increase compared to last year. The bank also presented a plan to increase its capital by more than VND 11,000 billion through dividend payments in shares (an additional VND 3,300 billion increase) and a capital increase issuance (over VND 8,000 billion).

Specifically, the bank plans to issue 500 million shares (5,000 billion VND) to existing shareholders, issue 10 million shares (100 billion VND) under the employee stock option program (ESOP), and conduct a private placement of 300 million shares (3,000 billion VND) to foreign investors.

Minh Son

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