LPBank and PGBank experience “fluctuations” before the General Meeting of Shareholders
State Bank of Vietnam ready to intervene in exchange rates
On April 19, the State Bank of Vietnam (SBV) held a press conference to announce the Q1/2024 banking activities results.
Speaking at the press conference, SBV Deputy Governor Dao Minh Tu said that in the recent past, the SBV has flexibly managed exchange rates, helping to absorb shocks, combined with the issuance of VND credit notes to reduce excess VND liquidity, thereby reducing the pressure. short-term impact on exchange rates.
Basically, market liquidity is smooth, all legitimate foreign currency needs are fully met, the exchange rate fluctuates in line with market conditions and the trend of international currencies against the USD.
“Vietnam’s exchange rate management approach is flexible, stable but not fixed, up and down appropriately, avoiding strong global impacts, reducing fluctuations in imports and exports, and creating a harmonious balance. We are ready to intervene if the exchange rate continues to have adverse effects, even from today. With the current foreign exchange reserves and resources added since 2023, we guarantee the role of state management of exchange rates to ensure the goal of stability with exchange rates in the coming time”, SBV Deputy Governor Dao Minh Tu emphasized.
3 “blind spots” in personal financial management: Point number 2 is a misconception of many people
For many people, personal financial management is simply following a list of “boring” things, such as never borrowing money to get into debt, always paying bills on time, prioritizing paying yourself first by saving money right away when money comes into your account,…
All of those habits are positive, however, according to experts, applying the rules mechanically in personal financial management may not be really effective if you do not know about these 3 “blind spots”. Those are Emergency Fund, Credit Score and Retirement Fund.
LPBank may change its name to Vietnam Loc Phat Bank
Lien Viet Post Bank ( LPBank , LPB) has just updated the documents for the 2024 Annual General Meeting of Shareholders. Accordingly, the bank has added a name change option.
In the original plan, LPBank wanted to change its name from Lien Viet Post Bank to Vietnam Post Bank. Another option has just been added to the meeting documents, which is Vietnam Loc Phat Bank. The first two characters of “Loc Phat” also coincide with the stock code LPB and the abbreviated name LPBank of this bank.
Last year, the bank changed its brand identity from LienVietPostBank to LPBank, after the Vietnam Post Corporation (VNPost) planned to divest. The changes in branding and personnel also took place after Mr. Nguyen Duc Thuy became Chairman of the Board of Directors.
Mr. Thuy was elected to the Board of Directors of LPBank from the end of April 2021 and became Vice Chairman of the bank about a week later. At the end of 2022, Mr. Thuy was elected to the position of Chairman of the Board of Directors.
Just ahead of PGBank’s 2025 AGM, two senior leaders resigned, TC Group factor emerged
Right before the 2024 Annual General Meeting of Shareholders (April 20), two senior leaders at PGBank resigned after completing a capital increase of 1,200 billion VND.
According to information from Thinh Vuong and Phat Trien Joint Stock Commercial Bank ( PGBank ), the Deputy General Director and an independent member of PGBank’s Board of Directors both submitted their resignations a few days before the General Meeting of Shareholders.
Mr. Nguyen Thanh To, Deputy General Director of PGBank in charge of the Balance and Capital Mobilization Block, has just submitted his resignation from May 21. In a petition signed on April 15, Mr. To said he had worked at PGBank for more than 14 years and asked to terminate his employment contract for “personal reasons”.
One day after Mr. To signed the resignation petition, Mr. Nguyen Thanh Lam, an independent member of the Board of Directors, also resigned due to personal work reasons. Mr. Lam has been a member of PGBank’s Board of Directors since October 2023.
The人事变动 at PGBank takes place right before the 2024 Annual Shareholders’ Meeting, which is scheduled to take place on April 20.
Previously, on April 11, PGBank completed the registration to increase its charter capital by 1,200 billion VND, thereby raising the bank’s charter capital to 4,200 billion VND.
