The Board of Directors (BOD) of LienViet Post Joint Stock Commercial Bank (LPBank, stock code LPB) has just passed a Resolution on the implementation of procedures to change the bank’s name according to the plan approved by the General Meeting of Shareholders. Specifically, the following changes to the bank’s name are being made:
Full name in Vietnamese: Loc Phat Joint Stock Commercial Bank. Abbreviated name in Vietnamese: Loc Phat Bank. Full name in English: Fortune Vietnam Joint Stock Commercial Bank. Abbreviated name in English: LPBank (unchanged).
Thus, compared to the contents submitted to the previous General Meeting of Shareholders for approval, LPBank has changed its full name in English. Initially, the bank planned to change its English name to Loc Phat Vietnam Joint Stock Commercial Bank.
BOD authorized the General Director to decide on the content, edit, supplement, sign documents, and finalize the dossier to be submitted to the State management agency and related units (if any) to carry out the bank’s name change procedures in accordance with the provisions of law and LPBank’s regulations.
LPBank’s BOD stated that “the bank’s name change marks a significant milestone in the current stage, aiming to realize the strategy of strong and effective comprehensive changes towards the goal of sustainable development and bringing prosperity to the community”.
The name “Loc Phat Bank” in the perception of East Asians also carries the meaning of creating development, fortune, luck, prosperity, and flourishing. In its business philosophy, LPBank always focuses on bringing benefits to partners, customers, shareholders, employees, and the community. LPBank is committed to ensuring that customers always receive support from the Bank through effective financial solutions throughout their development.
