LienVietPostBank

This article is about the banking company. For volleyball club, see Thông tin Liên Việt Post Bank.
LienVietPostBank
Native name
 Ngân hàng TMCP Bưu điện Liên Việt
Private
Industry Banking and Finance
Founded March 2008
Headquarters Ho Chi Minh City (From 2015)
Hau Giang (2008–2015), Vietnam
Number of locations
 131 transaction offices
1,067 postal transaction offices
(57 cities and provinces; QI/2016)
Key people
 Duong Cong Minh (Chairman)
Pham Doan Son (CEO)
Total assets ₫108 billion (2015)
Number of employees
 4,037 (2015)
Website http://www.lienvietpostbank.com.vn/

Lien Viet Post Joint Stock Commercial Bank or LienVietPostBank, formerly known as LienVietBank, is a private Vietnamese retail bank which has transaction offices across 57 cities and provinces and 1,067 postal transaction offices across Vietnam.[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 consecutive years[2] and ranked 44th in VNR500 - Top 500 largest private companies in Vietnam in 2015.[3]

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 founder shareholders included Him Lam Corporation, Saigon Trading Group and Southern Airport Service Company.

Milestones

Time Milestones
Mar 2008 • Received operation license from the SBV (formerly known as Lien Viet Joint-stock Commercial Bank) [4]
May 2008 • Opened the first branch in Hau Giang Province [5]
Sep 2009 • Established LienVietBank’s E-Banking.[5]
Jul 2011 • Signed a 50-year-co-operation agreement with Vietnam Post to merge with Vietnam Postal Savings Service Company (VPSC), one of the most notable M&A events in Vietnam in 2011, and changed name to LienVietPostBank. LienVietPostBank becomes the exclusive bank to provide banking services throughout more than 10,000 post offices.
• Became a member of the World Savings & Retail Banking Institute (WSBI).[6]
Sep 2011 • Integrated LienVietPostBank’s ATM system into the biggest ATM network of Vietnam – Smartlink.[5]
May 2014 • Successfully co-organized the 20th World Savings and Retail Bank Institute (WSBI) Asia Pacific Regional Group Meeting.[4]
Jun 2014 • Launched LienVietPostBank MasterCard International Debit Card.[5]
Jun 2015 • Received permission from the SBV to move the headquarter to Ho Chi Minh City.[5]
Sep 2015 • Reduced the 20 digit length of account number to only 12 digits.[1]

Main shareholders

1.Him Lam Joint Stock Corporation: 14.98%

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

Strategic Partners

1. VietnamPost Corporation

2. World Savings and Retail Banking Institute (WSBI)

3. French La Poste Group

Network

▪ As of Quarter I of 2016, LienVietPostBank has totally 1,198 transaction points in 53 out of 63 cities/provinces which includes: • Bank network: 131 own transaction offices which are consists of: 61 branches, 70 bank transaction offices.

• Postal transaction office (PTO) network: 1,067 PTOs. ▪ Network expansion plan: • In 2016, LienVietPostBank’s own branches will cover all 63 cities/provinces in Vietnam.

• By the end of 2020, postal transaction offices will be upgraded to full banking transaction offices and presented in 700 districts of Vietnam.

• More than 10,000 post offices can be upgraded to postal transaction offices. In the next 10 years, the Bank’s goal is to expand full banking services to at least 80% of this network throughout 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: ViViet e-wallet (for unbanked segments), MasterCard Debit card, MasterCard Credit card, Internet banking, Mobile banking, SMS banking, Bankplus… Vi Viet E-wallet is a payment gateway for various e-commerce transactions and an efficient financial management tool for all individuals and households. Vi Viet offers banking and financial services via mobile phone, and, accordingly, promotes financial inclusion in Vietnam.

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 Saving and Retail Banks 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.[7] 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.

Reception

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

Year Awards Conferring body/organization
2010 - 2014 High Straight- Through Rate for Payment processing (STP) Wells Fargo Bank
2011 The Best Equity Deal of 2010 – 2011 Investment Review and AVM Vietnam Company [8]
2011 - 2014 • Top 100 Vietnam Strong Brand Vietnam Economic Times [8]
2011 - 2015 Top 500 Largest Private Companies in Vietnam Vietnam Report 500
2013 The most active bank in standardizing payment activities JP Morgan Chase
2014 - 2015 - Best CSR Bank in Vietnam 2014 & 2015[9]
- Best Savings Bank Vietnam 2014 & 2015 		Global Banking and Finance Review (UK) [10]
2013 Outstanding achievements in Technology Application in International Payment Business Wells Fargo Bank

See also

References

  1. 1 2 Annual Reports http://www.lienvietpostbank.com.vn/en/about/technology/content/annual%20report
  2. ↑ http://www.lienvietpostbank.com.vn/tin-tuc-su-kien/su-kien-noi-bat/noi-dung/lienvietpostbank-nhan-giai-thuong-thuong-hieu-manh-lan-thu-40
  3. ↑ Top 500 largest private companies in Vietnam in 2015 http://www.vnr500.com.vn/Charts/Index?chartId=2
  4. 1 2 http://en.vietnamplus.vn/retail-banks-prepare-strategies-to-serve-nations-poor/60706.vnp
  5. 1 2 3 4 5 6 7 http://www.lienvietpostbank.com.vn/en/about/introduction/content/about-us-111111
  6. 1 2 http://english.thesaigontimes.vn/Home/business/financial-markets/31563/La-Poste-Group-strikes-deal-to-assist-LPB .html
  7. ↑ http://vaytientieudung.com/ngan-hang-hdbank/13-vaytientieudung-com/tin-tuc/t%C3%A0i-ch%C3%ADnh-ng%C3%A2n-h%C3%A0ng/179-lienvietpostbank-duoc-chi-dinh-lam-ngan-hang-phuc-vu-du-an-cua-wb.html
  8. 1 2 Vietnam Deals Review 2011 - Stoxplus http://www.stoxplus.com/download.asp?id=2780
  9. ↑ http://www.globalbankingandfinance.com/lienvietpostbank-overcoming-the-challenges-of-an-economic-crisis/
  10. ↑ http://www.globalbankingandfinance.com/global-banking-finance-review-awards-2015/

External links

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