Vietnam Post's divestment from LienVietPostBank does not affect customers

SGGPO 03/24/2023 14:35

Implementing the capital contribution restructuring plan, Vietnam Post Corporation (Vietnam Post) will divest 140.5 million shares at Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank).

The divestment was carried out under the direction of the Government Office in Official Dispatch No. 4476/VPCP-DMDN dated June 4, 2020 on restructuring Vietnam Post's capital contribution in the banking and insurance sectors and the direction of the Ministry of Information and Communications in Official Dispatch No. 3145/BTTTT-QLDN dated August 17, 2020 of the Ministry of Information and Communications on Vietnam Post's divestment at LPB and PTI.

Vietnam Post's divestment from LienVietPostBank will not have any impact on current customers using the services provided by this Bank through the postal network. After the divestment, Vietnam Post and LienVietPostBank will continue to work together as strategic partners to deploy basic financial services and modern banking on the postal network to take advantage of the strengths of both parties.

According to a representative of Vietnam Post, after more than 10 years of cooperation in implementing banking services through the system of Post Office Transaction Offices located at Vietnam Post's Post Offices and Commune Culture Offices, by the end of 2022, the balance of postal savings deposits reached VND 79,770 billion and by the end of February 2023, the balance of savings deposits reached over VND 82,500 billion. Vietnam Post and LienVietPostBank have coordinated to build a system of service provision, management, network system, human resources, and control as a foundation for the development of retail banking services on the postal network. This is also a premise for the two sides to be able to develop new cooperative banking products and services on the national postal network.

With the motto of enhancing customer experience with the most modern and convenient banking services, the two sides have thoroughly applied IT to build and deploy special mobilization services, retirement credit services, and consumer loans for civil servants, public employees, and armed forces.

Not only that, Vietnam Post and LienVietPostBank have contributed significantly to supporting the development of other services through the money transfer system, experience, and capacity of the staff and service management team.

In the coming time, with the advantage of network and experience in deploying diverse financial and banking services, contributing to promoting comprehensive finance according to the orientation of the Government and the State Bank, while limiting the problem of "black credit" in the economy , Vietnam Post and LienVietPostBank will cooperate closely, diversify capital mobilization products, maximally meet the needs and interests of customers and society, while contributing to affirming the reputation and brand, towards sustainable and effective development of both parties.

Source: https://www.sggp.org.vn/viec-thoai-von-khoi-lienvietpostbank-cua-vietnam-post-khong-anh-huong-den-khach-hang-post683248.html