Lien Viet Post Joint Stock Commercial Bank was changed to LPBank. Photo courtesy of the bank

Lien Viet Post Joint Stock Commercial Bank was officially given approval from the State Bank of Viet Nam to change its abbreviated name from LienVietPostBank to LPBank.

The change aims to grasp the general trend of banks today in which the abbreviation is as short as possible, easy to read and remember.

The LPBank’s change of name and brand identity marks a period of transformation, comprehensive and drastic change to a new stage with the goal of becoming the leading retail bank in Viet Nam. LPBank will continue to make comprehensive changes to the LPBank logo and brand identity system to synchronise services and products as well as improve customer experience.

After more than 15 years of establishment and development, LPBank is now gradually growing, affirming its position in the financial and banking market. It is one of the joint stock commercial banks with a large network of more than 1,200 transaction points across the country.

At the end of the first quarter of 2023, in the context of the economy facing many difficulties, LPBank's business activities still achieved some positive highlights thanks to the optimal implementation of capital efficiency due to flexible capital adjustment in line with credit growth.

The bank’s capital mobilisation reached more than VND272.5 trillion (US$11.6 billion), outstanding loans VND242.1 trillion. LPBank was in the top 10 banks with the lowest bad debt ratio in the first quarter of 2023. — VNS