Mr. Nguyen Duc Thuy's family has 6 siblings. Each one is holding their own "sky" in enterprises with capital of thousands of billions.
The Board of Directors (BOD) for the 2023-2028 term of LienVietPostBank ( LPBank ) has Mr. Nguyen Van Thuy. Mr. Thuy is the younger brother of Chairman of the Board of Directors Nguyen Duc Thuy. Mr. Thuy officially joined this bank from March 30.
At the time of recruiting Mr. Thuy, the bank also announced information about approving the purchase of comprehensive insurance and computer and electronic crime insurance for the period 2023-2024 with Xuan Thanh Insurance.
Meanwhile, Xuan Thanh Insurance is a non-life insurance company with Mr. Thuy as Chairman and General Director.
At the same time, LPBank also announced cooperation with Xuan Thanh Insurance to deploy 3 insurance products through cross-selling insurance.
This is not the first time Mr. Nguyen Duc Thuy has worked alongside his relatives at an organization.
Previously, Mr. Thuy and his other younger brother, Mr. Nguyen Van Thuyet, used to jointly manage Thaiholdings JSC (TDH), before Mr. Thuy became a member of LPBank.
"Empire" Xuan Thanh
Mr. Nguyen Duc Thuy and his brothers are known to come from Xuan Thanh Group (the predecessor of Thaigroup, Thaiholdings and Xuan Thanh Insurance).
The Xuan Thanh empire was built by Mr. Nguyen Xuan Thanh (Mr. Thuy's biological father) from a private construction business in Ninh Binh . Until now, Ninh Binh people still call Mr. Thanh "Cai Thanh", because he used to be a construction contractor.
This business family has many successful and famous people: Mr. Nguyen Duc Thuy (born in 1976, Chairman of the Board of Directors of LienVietPostBank); Ms. Nguyen Thi Thao; Mr. Nguyen Van Thuy (born in 1981, member of the Board of Directors of LienVietPostBank, Chairman and General Director of XTI); Mr. Nguyen Van Thuyet (born in 1986, Chairman of the Board of Directors of Thaiholdings); and Mr. Nguyen Xuan Thuy (born in 1988, General Director of Xuan Thanh Cement Company).
Thaigroup, Thaiholdings, Xuan Thanh Group, Xuan Thien Group,... operate in many fields from banking, insurance, cement, hydropower, renewable energy, construction, hotels, transportation,...
In June 2022, Mr. Nguyen Duc Thuy completed the divestment of all 87.4 million shares at Thaiholdings (TDH), equivalent to 24.97% of charter capital, and is no longer a shareholder at TDH. However, Mr. Thuy's younger brother, Mr. Nguyen Van Thuyet, is currently the Chairman of the Board of Directors at this enterprise.
Thaigroup Corporation used to be the parent company of THD, but the two legal entities later switched roles after THD owned more than 80% of the charter capital at Thaigroup.
The ecosystem of Thaigroup and THD also includes enterprises including: Kim Lien Tourism JSC, in which TDH owns 17.20% of the charter capital, equivalent to 1.196 million shares. This is a subsidiary of Thaigroup, directly managing and operating Kim Lien Hotel; Thai Ciment Ha Tien JSC (a subsidiary of Thaigroup, in which Thaigroup owns 98% of the charter capital, equivalent to 38 million shares).
There are also Enclave Phu Quoc JSC (an affiliated company of Thaigroup, with Thaigroup owning 49% of charter capital, equivalent to 24.5 million shares); Binh Minh Group JSC (an affiliated company of Thaigroup); Ton Dan Hanoi JSC (the company owning the Thaiholdings and LienVietPostBank headquarters building).
Recently, Thaigroup and Thaiholdings have been aggressively dissolving or divesting capital from a series of subsidiaries and affiliates. In particular, THD completed the divestment of 88% of charter capital at THD Investment and Development Company Limited on July 29, 2022.
Previously, THD completed the divestment of 100% of charter capital (2 million shares) at Nam Ha LLC. Both of these enterprises were established by THD and are headquartered in Thanh Liem, Ha Nam.
In September 2022, THD also completed the divestment of 16.98% of charter capital at Bai Thom Phu Quoc Investment, Trade and Service Company Limited (Thaispace). This is also an affirmation of the official withdrawal from the space flight project that THD had previously announced.
In 2022, THD will complete the divestment of 16% of charter capital (4,288 million shares) of Thaihomes Investment JSC (now Tuan Nguyen Company).
On Thaigroup's side, in June 2022 alone, 3 enterprises were dissolved, including: Xuan Thanh Binh Phuoc Joint Stock Company (a subsidiary established by Thaigroup in 2017 and holding 98% of charter capital); Thaigroup Binh Phuoc One Member Co., Ltd. (a subsidiary established by Thaigroup in 2018 and holding 100% of charter capital); and Kaito Ha Tien Cement Joint Stock Company (a company established by Thaigroup in 2015 and holding 80% of charter capital).
Vietnamnet
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