LPBank successfully raised $80 million from ADB.

LPBank has announced the successful signing of an $80 million syndicated loan from the Asian Development Bank (ADB) to enhance access to finance for women-owned small and medium-sized enterprises (WSMEs) in Vietnam. The signing ceremony took place on June 12, 2024, in Hanoi, with the participation of representatives from LPBank, ADB, and relevant financial institutions.

Mr. Vu Quoc Khanh - Standing Deputy General Director of LPBank (seated in the middle) with representatives from ADB and other relevant parties signing the agreement.

Under the agreement, LPBank will receive a direct loan of US$80 million from the ADB. This is a medium-term, unsecured syndicated loan with a 3-year term, aimed at boosting financing for the Women-Owned Small and Medium-Sized Enterprise (WSME) Project. The loan is also accompanied by a US$750,000 technical assistance package funded by the Women Entrepreneurs Finance Initiative (We-Fi). With this assistance package, LPBank will better meet the needs of WSME customers through modern and convenient products, initiatives, and services. Speaking at the event, Mr. Le Minh Tam, Permanent Vice Chairman of the Board of Directors of LPBank, said: “Small and medium-sized enterprises (SMEs) are a strategic customer segment, and supporting SMEs in accessing capital has always been a top priority for LPBank. With this loan package, LPBank not only gains more resources to implement effective financial solutions for customers, but also demonstrates the efforts of all parties in strengthening support for the WSME Project, especially in the context of businesses having a great need for capital to recover and develop production and business.”

Mr. Le Minh Tam - Standing Vice Chairman of the Board of Directors of LPBank, delivered a speech at the event.

Ms. Suzanne Gaboury, Managing Director of the ADB Private Sector, emphasized that this project is an important first step in enhancing the capacity to support small and medium-sized enterprises (SMEs) in Vietnam, especially those owned by women. “Today’s event marks the beginning of ADB’s cooperation with LPBank in the areas of finance and capital. Through this collaboration, we hope to provide appropriate capital and advisory services to SMEs, thereby supporting them in participating in and contributing to the country’s economic development,” Ms. Suzanne Gaboury shared.

Ms. Suzanne Gaboury, Managing Director of the Private Sector at ADB, shared at the event.

The successful securing of a syndicated loan from the ADB demonstrates the trust and positive assessment that international financial institutions have placed in LPBank. This also affirms LPBank's commitment to supporting small and medium-sized enterprises in Vietnam in accessing flexible, safe, and effective loan financing.

The successful signing of the $80 million syndicated loan from ADB affirms the trust and high regard that international financial institutions have for LPBank.

Alongside upgrading and expanding its efficient financial ecosystem, LPBank focuses on developing policies to support businesses in accessing loan capital with preferential interest rates. Since the beginning of 2024, LPBank has simultaneously implemented several large-scale loan financing packages, such as: the "Super-Fast Loan - Accelerate Business" program for micro-enterprises with interest rates starting from only 6.5%/year; and the "Preferential Interest Rate - Opening the Way to Trade" program supporting import-export businesses, with a total limit of up to VND 5,000 billion, preferential USD loan interest rates starting from only 4%/year and preferential VND loan interest rates starting from only 6.15%/year. Through this solution, LPBank continues to demonstrate its role in supporting businesses by reducing capital pressure, expanding access to loans, and optimizing cash flow to explore new business opportunities, contributing to the economic and social development of the country.

LPBank is one of 15 Vietnamese banks included in the 2024 Top 500 Global Banks with the Highest Brand Value, as announced by Brand Finance, a leading global brand valuation consulting firm. Last May, LPBank received a long-term issuer credit rating of A+ with a "stable" outlook from VIS Rating. VIS Rating assessed LPBank's asset quality as outstanding due to its ability to control the non-performing loan ratio, and also rated LPBank's profitability as good, expecting stable profitability over the next 12-18 months.

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