The Grand Opening of LPBank’s Ho Chi Minh City Headquarters and Southern Head Office

Pioneering to Elevate Prestige

With its ever-growing scale, on July 31, 2024, LPBank inaugurated its new Head Office for Ho Chi Minh City Branch and Southern Headquarters at Thaisquare The Merit Building, (43 – 45 – 47 Nguyen Thi Minh Khai, Ben Nghe Ward, District 1). This marks a new chapter of success after officially changing its name to LPBank Vietnam Joint Stock Commercial Bank.

Over the past 16 years, LPBank has established its credibility and position as one of the 14 most important Vietnamese banks in the system, ranking among the top 500 most valuable banking brands globally in 2024. The bank has also been the proud recipient of numerous prestigious awards both domestically and internationally.

The choice of Thaisquare The Merit Building as the new Head Office for LPBank’s Ho Chi Minh City Branch and Southern Headquarters showcases the bank’s strategic vision for brand positioning. As a pioneer in investing in both the quantity of branches and the quality of services across its network, LPBank is not only expanding its presence with a vast network covering all 63 provinces and cities nationwide but also continuously upgrading and transforming its key branches and transaction offices located in prime locations, giving them a prominent new look and world-class facilities.

New Head Office of LPBank Ho Chi Minh City Branch and Southern Headquarters at Thaisquare The Merit Building, (43 – 45 – 47 Nguyen Thi Minh Khai, Ben Nghe Ward, District 1)

The new Head Office of LPBank Ho Chi Minh City Branch and Southern Headquarters is located in a Class A office building in the heart of District 1, Ho Chi Minh City. With a total usable area of up to 12,871 square meters, it will serve as a hub for top talent in the finance and banking industry in the Southern region. The office boasts a friendly and unique working environment, providing an excellent experience and the best financial services to its customers, thus embodying LPBank’s customer-centric approach.

With modern amenities and a sustainable design that fosters innovation and collaboration, the new Head Office of LPBank’s Ho Chi Minh City Branch and Southern Headquarters marks a comprehensive transformation. It opens up opportunities for stronger business development and collaboration in this market while reflecting the bank’s strategic vision of growing towards prosperity and success alongside its customers, community, and country.

Accelerating Development Strategy in the Southern Market

Ho Chi Minh City is at an ideal juncture to realize its vision of becoming a leading financial hub in the region, riding on the wave of artificial intelligence and breakthrough mechanisms. In the first quarter of 2024, the city’s GRDP (Gross Regional Domestic Product) increased by 6.54%, the highest growth rate in the last five years and a significant improvement over the same period last year. This impressive performance is largely attributed to the contributions of credit activities that have supported businesses in expanding their operations, thereby driving economic recovery and growth.

With the spirit of “Strong Growth – Comprehensive Efficiency,” LPBank stands out in the financial and banking landscape. In the first half of 2024, LPBank recorded a pre-tax profit of VND 5,919 billion, a remarkable 142% increase compared to the same period last year. Previously, in the first quarter of 2024, the bank’s pre-tax profit exceeded VND 2,886 billion. With a profit of over VND 3,033 billion in the second quarter, LPBank has achieved consecutive quarters of profit growth, nearly tripling its profit compared to the same period last year.

The Southern Headquarters will play a pivotal role in enhancing marketing efforts and expanding the customer base, propelling the LPBank brand, and its products and services to greater heights in the country’s largest market. This event also underscores the bank’s exceptional efforts in its journey of innovation and comprehensive development, in line with its strategic vision to become Vietnam’s leading retail bank.

Mr. Le Minh Tam, Vice Chairman of the Board of Directors, delivers a speech at the inauguration ceremony

Commenting on the inauguration, Mr. Le Minh Tam, Vice Chairman of the Board of Directors of LPBank, shared: “LPBank has been making significant strides in the Southern market through a diverse range of products and services that bring value to our customers. With our new, modern, and spacious Head Office in the heart of Ho Chi Minh City, we reinforce our commitment and strategic focus on this key market. This will enable us to provide our customers in Ho Chi Minh City and the Southern region with the best possible experiences and services.”

As the ancient proverb goes, “choose a safe place to keep your gold.” LPBank’s choice of Thaisquare The Merit Building as the new Head Office for its Ho Chi Minh City Branch and Southern Headquarters opens up a new financial hub and plays a crucial role in the bank’s strategy to capture market share in the South. It also aligns with Ho Chi Minh City’s aspiration to become a leading financial center in the region.

On July 15, LPBank officially changed its name to LPBank Vietnam. The word “Loc” in Vietnamese signifies luck and opens up opportunities for collaboration and business development for both customers and the bank itself. “Phat,” meaning prosperity, reflects the bank’s vision of growing towards prosperity and success together with its customers, community, and country. This change in name and brand identity marks a new phase in LPBank’s development, ushering in a new business strategy and a renewed focus on delivering new values to its customers, partners, and shareholders.