Lien Viet Post Bank officially changed its abbreviated name

05/15/2023 12:20 Nhat Linh Print article

ANTD.VN - The State Bank has approved the change of the abbreviated name of Lien Viet Post Joint Stock Commercial Bank from Lienvietpostbank to LPBank .

On May 12, 2023, the State Bank of Vietnam issued Decision No. 899/QD-NHNN allowing Lien Viet Post Joint Stock Commercial Bank to change its English abbreviation to LPBank.

LPBank is officially the abbreviation of Lien Viet Post Bank.

Previously, the Bank's General Meeting of Shareholders also approved the change of the abbreviation. The reason was that the old abbreviation LienVietPostBank was considered to have too many characters, difficult to pronounce, difficult to remember, leading to difficulty in recognition, and low communication effect.

Meanwhile, the general trend of banks today is to use abbreviations in the shortest possible form, easy to read and easy to remember.

LPBank leaders said that in the coming time, the Bank will continue to comprehensively change the logo system and LPBank brand identity to synchronize services, products and enhance customer experience.

Currently, LPBank is 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, the bank's business results were quite positive. Capital mobilization reached more than VND 272,500 billion, outstanding loans reached VND 242,100 billion, LPBank was also one of the 10 banks with the lowest bad debt ratio in the first quarter.

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