Loc Phat Vietnam Joint Stock Commercial Bank (LPBank - Code: LPB) has just announced a Board of Directors resolution on changing senior personnel, in which Mr. Ho Nam Tien was elected to hold the position of Chairman of the Board of Directors from December 23, 2025, replacing Mr. Nguyen Duc Thuy.
Previously, at the meeting before the extraordinary General Meeting of Shareholders, the Board of Directors (BOD) considered the resignation letter as a member of the Board of Directors of Mr. Nguyen Duc Thuy, Chairman of the Board of Directors. The resignation comes from a change in the bank's shareholder structure.
Speaking at the meeting, Mr. Ho Nam Tien - the new Chairman of the Board of Directors, on behalf of LPBank's Board of Directors, expressed his appreciation and deep gratitude to Mr. Nguyen Duc Thuy for his important and fundamental contributions during his time accompanying the Bank.
According to Mr. Ho Nam Tien, the period when Mr. Nguyen Duc Thuy joined the Board of Directors was the period when LPBank synchronously implemented many major policies, creating clear changes in both governance capacity and operational efficiency. Notably, the Bank successfully deployed the Core Banking T24 system with record-breaking progress, in just 7 months and 7 days - the project with the fastest implementation speed in Asia.
In parallel with technology investment, LPBank has repositioned its brand with the name of Loc Phat Bank Vietnam (LPBank), associated with a strong restructuring of the organizational model towards streamlining and efficiency.
The organizational structure was reduced from 17 groups to 8 professional groups; the personnel scale was streamlined, while the front-back personnel structure was adjusted to an optimal ratio of 74% - 26%, clearly reflecting the priority orientation for business activities and customer service. Along with that, the Bank will convert the model to centralized credit approval, standardize business processes and strengthen risk control.
For three consecutive years, LPBank has maintained ROE as a Top leader in the system, while the CIR ratio has been controlled, among the lowest in the industry, showing outstanding efficiency in cost management and capital use. The Bank's business results have continuously recorded new growth milestones, affirming the correctness of the restructuring and comprehensive transformation strategy.
The Bank's reputation in the international market was also strongly affirmed when Moody's upgraded LPBank's credit rating in many important categories: Long-term deposits (Ba3 level, stable outlook), Long-term issuers (Ba3 level, stable outlook) and basal credit assessment (BCA) to reach level b1. At the same time, the Bank also maintains its long-term credit rating at A+ with a "stable" outlook from VIS Rating.
In addition to business efficiency, the Bank continues to affirm its role as one of the leading flags of the banking industry in implementing social responsibility, with more than VND 3,576 billion spent on social security work over the years, linking business growth with spreading humanistic values and making practical contributions to the community.
In particular, LPBank's Board of Directors acknowledged that Mr. Nguyen Duc Thuy did not receive remuneration during his time as Chairman of the Board of Directors. In order to recognize those contributions, the Board of Directors agreed to give him a special reward of 10 billion VND.
However, Mr. Nguyen Duc Thuy proactively proposed to use all of these awards for charity activities, to support people in the Central provinces affected by natural disasters and floods, continue to spread the spirit of social responsibility and share with the community.
LPBank's Board of Directors emphasized that the foundations of governance, technology, brand and social responsibility built in the recent period are the common property of the Bank, and will continue to be inherited and promoted in the next development stage.
Also in the meeting, LPBank's Board of Directors also approved the resignation letter of Mr. Nguyen Van Thuy - Vice Chairman of the Board of Directors and approved the termination of the assignment of the duties of Deputy General Director to Ms. Nguyen Thi Kieu Anh according to personal wishes to change jobs. This decision will be implemented in accordance with internal regulations and relevant legal regulations.
