LienVietPostBank

LienVietPostBank

Native name	Ngân hàng TMCP Bưu điện Liên Việt
Type	Private
Industry	Banking and Finance
Founded	March 2008
Headquarters	Hanoi (From December 2016) Ho Chi Minh City (From 2015) Hau Giang Province, Vietnam (2008 – 2015)
Key people	Mr. Nguyen Duc Huong as Chairman Mr. Pham Doan Son as Permanent Vice Chairman & CEO
Total assets	2016: VND 141,865 billion (equivalent to USD 6,400 million) (equivalent to USD 4,807 million)
Number of employees	5,957 (2017H1)
Website	http://www.lienvietpostbank.com.vn/

Introduction

Lien Viet Post Joint Stock Commercial Bank or LienVietPostBank, formerly known as LienVietBank, is a private Vietnamese retail bank providing banking products and services through its own transaction offices across 63 cities and provinces, 1,067 postal transaction offices and 3,000 transaction points nationwide .^[1]

LienVietPostBank is considered to be in the top 10 biggest private banks in terms of assets and equity, in the list of Top 100 Vietnam Strong Brands 2014 (for 4 years consecutively) ^[2] and ranked 44th in VNR500 - Top 500 largest private companies in Vietnam in 2015 ^[3].

The Bank is striving to become a leading retail and universal bank in Vietnam -“A bank for everyone”- by focusing on providing banking products and services for individuals, households and small and medium enterprises (SMEs) especially in the agriculture sector, and expanding its activities to rural and remote areas via the post office network.

Establishment

LienVietPostBank was established in Hau Giang Province on March 28, 2008 with the charter capital of VND 3,300 billion. At that time, LienVietPostBank was one of the top 10 private commercial banks in Vietnam in terms of charter capital. The founding shareholders included Him Lam Corporation, Saigon Trading Group and Southern Airport Service Company.

Milestones

Main shareholders

Vietnam Post Corporation (VNPost): 12.54% ^[5]

(Him Lam Corporation is no longer the shareholder of LienVietPostBank since June 2017) ^[9]

Strategic Partners

1. VietnamPost Corporation

2. World Savings and Retail Banking Institute (WSBI)

3. French La Poste Group

4. The World Savings and Retail Banking Institute (WSBI)

5. United Nations Capital Development Fund (UNCDF)

Network

▪ As of Quarter II of 2017, LienVietPostBank has totally 1,255 transaction offices and 3,000 transaction points in 63 out of 63 cities/provinces which include:

▪ Bank network: 188 own transaction offices which consist of: 68 branches, 120 bank transaction offices.

▪ Postal transaction office (PTO) network: 1,067 PTOs.

▪ Transaction points (shops, kiosks, retail outlets, etc. offering banking services): 3,000

▪ Network expansion plan (By 2020):

▪ At least 01 transaction point in each of 713 districts of Vietnam.

▪ 30,000 transaction points in every commune of Vietnam.

Products and Services

• A full range of capital mobilization products

• A full range of credit products for different customer segments

• A full range of services from International/domestic payment, collection, etc.

• Electronic banking and other products: Vi Viet E-wallet (for unbanked segments), MasterCard Debit card, MasterCard Credit card, Internet banking, Mobile banking, SMS banking, Bankplus, etc.

International Cooperation

Since its establishment in 2008, the Bank has approached and built relationships with the following international organizations and foreign financial institutions:

• WSBI – World Savings and Retail Banking Institute: Since its membership in WSBI, a global voice of the world’s retail and saving banks, LienVietPostBank has chances to exchange information and enhance partnership through in-depth discussions and experiences sharing with many foreign financial institutions all over the world.

• World Bank: In May 2012, the Bank participated in the third Rural Finance Program III sponsored by the International Development Association, a member of World Bank, to support end-borrowers including individuals, households and SMEs in rural areas. ^[10] In July 2015, LienVietPostBank committed to the Universal Finance Access (UFA) 2020 Goal proposed by the World Bank Group to promote financial inclusion worldwide.

• French La Poste Group: In October 2013, LienVietPostBank, VNPost and La Poste Group signed one-year Technical consultation and technology transfer Agreement, which aims to define the best coordination governance between LienVietPostBank and VNPost, design retail postal banking range and build the postal banking transaction office model for the nationwide roll-out plan. ^[6]

• IFC – International Finance Corporation, JICA – Japan International Cooperation Agency, Asian Development Bank (ADB) : the Bank participated in technical assistance, trade finance and lending programs sponsored by the development financial institutions. . ^[5]

• Maintained good relationship with Wells Fargo and JP Morgan Chase in the international payment services and Credit Suisse, Societe Generale, Nomura in global capital markets.

Key financial ratios

Business Strategies

Corporate Social Responsibility

From 2008 to 2016, LienVietPostBank and its founders actively contributed over USD 135 million, to the community and society through social activities. LienVietPostBank is the leading Bank in sponsoring and founding scholarship funds in Vietnam. Some notable programs are^[11]:

• Study and Talent Encouragement Funds – Total sponsorship VND 20 billion (2015) : Pham Van Tra Fund (Bac Ninh), Dat To Fund (Phu Tho), Luong The Vinh Fund (Nam Dinh), Nguyen Khac Nghien Fund (Phu Tho), Nguyen Dan Que Fund (Thanh Hoa), Dinh Bo Linh Fund (Ninh Binh) and Chu Van An Fund (Ha Noi).

• “Going home” program – Total funding VND 700 billion (2013) : Kicked off in 2008, the program coordinated with “Vietnamese heart” fund of the Vietnam Television (VTV) to become the program “1000 billion Going home” with a view to supporting and funding for the poor, poor households and difficult regions in 63 provinces through the country. Thousands of individuals, households and many difficult regions have been supported.

• Fund for the poor – Total funding over VND 40 billion: set up to fund the poor in Hau Giang, Can Tho, Quang Ngai and Ben Tre.

• Xin Man Development Company – Poverty rate from 63% in 2010 down to 26% in 2015, benefit for 65,000 people in Xin Man: established by LienVietPostBank and Him Lam Corporation to solely dedicate to project in helping Xin Man district, Ha Giang province (one of the poorest districts in Northern Vietnam). Until 2012, LienVietPostBank had funded nearly VND 100 billion for many projects related to public transportation infrastructure, healthcare and education; support the people in the district to earn their living and strengthen trade exchange for Xin Man district.

• ”Tam Nong” program – benefit for 19,000 rural households: Implemented since 2010 with aim to reducing lending rates for individuals and enterprises operating in agriculture and rural areas.

Besides, the Bank has committed itself to international standards and norms in corporate social responsibility as those set by Global Compact Network Vietnam (GCNV) and International Finance Corporation (IFC).

Recognition and Awards

Since its establishment in 2008, LienVietPostBank has received many awards and recognition from local and international organizations.

See also

VN Post http://www.vnpost.vn/

References

External links

Official Website:

• English:

• http://www.lienvietpostbank.com.vn/en/about/introduction/content/about-us-111111

• Vietnamese:

• http://www.lienvietpostbank.com.vn/