AsemconnectVietnam - Marking the 15-year milestone of establishment and development on March 28, 2023, Lien Viet Post Commercial Joint Stock Bank (LienVietPost Bank - stock code: LPB) has been in the top of the largest joint stock commercial banks in Vietnam with a charter capital of VND17,291 billion and a network covering 63 provinces and cities nationwide.

The financial report for the fourth quarter of 2022 shows that LPB still achieved positive results despite the volatile context of domestic and foreign financial markets. Accordingly, net interest income was almost flat, unchanged from the same period last year, reaching VND2,772 billion, but profit before tax still grew positively, reaching VND867 billion (up 3.8%), profit after tax recorded at VND668 billion, up 3.6%.
The good control of operating costs and the efficiency of the service segment is a remarkable point in LPB's business results report in the fourth quarter. Specifically, the bank's income from service activities in the period reached VND1,106 billion, net profit from this segment reached VND882 billion, a very strong increase over the same period (up 2.8 times). Meanwhile, operating expenses have been reduced by nearly VND258 billion to VND1,507 billion. This is also the basis for the bank to have resources to support customers and improve business performance.
By the end of 2022, LPB achieved VND5,690 billion in pre-tax accounting profit and VND4,510 billion in after-tax profit, up 56% and 57% respectively compared to the previous year. Basic earnings per share (EPS) increased from VND2,135 in 2021 to VND2,671 in 2022.
In 2022, LPB's credit structure will shift towards retail, with retail accounting for more than 65% of total annual credit growth. Along with maintaining the core activities of the bank, LPB promotes insurance services, cards, digital banking...
Currently, LPB is one of the joint stock commercial banks with the largest network in the country. Thanks to the exclusive exploitation on VNPost's postal transaction office system, combined with the strategy of developing online transaction channels - LienViet24h, LPB is one of the fastest growing retail banks in Vietnam 2022 by the Magazine Global Business Outlook.
It can be said that when the urban market is fiercely competitive, the rural market will be a potential area that many banks will target in the near future. With cheap and sustainable deposits, rural areas where retail space is still very large will help credit institutions have the opportunity to improve profits, add financial space to support customers.
LPB's capital structure in 2022 is generally improved significantly with the increase of charter capital, medium and long-term capital... The bank also pays great attention to the assessment of capital adequacy (ICAAP) ensures safe and effective capital management through the use of modern computational modeling tools. Also in the past year, LPB completed the implementation of the Basel III project, contributing to gradually improving its financial capacity and risk management level approaching international standards.
In a recent report, Viet Capital Securities Company (VCSC) raised its forecast of LPB's profit after tax in 2023 by 5.6%, to VND5,100 billion (up 13.1% over the same period) mainly by interest income (NII) up 4% due to a 14 bps increase in the NIM forecast and down 9.5% in operating/operating expenses.
N.Nga
Source: VITIC/Tinnhanhchungkhoan