LienVietPostBank welcomes new chairman

Nguyen Duc Thuy has been appointed by LienVietPostBank as chairman from December 12, replacing Huynh Ngoc Huy who has resigned for personal reasons.

Thuy, 46, had graduated from Colorado State University in the U.S. Before joining the banking industry as vice president of LienVietPostBank in May 2021, he had held many managerial positions in various fields like securities, finance, cement, and energy.

He became chairman of Xuan Thanh Group in 2006, then chairman of Saigon Xuan Thanh Football Club, and of Xuan Thanh Securities JSC in 2011.

Between 2012 and 2013, Thuy served as chairman of Xuan Thanh Ha Nam Cement Co., and Xuan Thanh Quang Nam Cement Co.

The 2017-2018 period saw him as vice chairman of two solar power companies, Xuan Thien Ninh Thuan and Xuan Thien Daklak.

Thuy became Thaiholdings Group's chairman in 2019. Currently, the two most prominent businesses associated with his name are Thaiholdings and Thaigroup, which own a series of large-scale real estate projects in Vietnam.

With more than 1,000 transaction points nationwide, LienVietPostBank is one of the banks with the largest network in the country.

In the first nine months of 2022, the bank's pre-tax profit reached more than VND4,800 billion ($193 million), up 72% year-on-year; after-tax profit hit more than VND3,842 billion ($154.6 million).

Of this, net profits from service activities reached VND779 billion ($31.35 million), up 43% year-on-year.

In 2022, the bank targeted pre-tax profit at VND4,800 billion ($193.2 million), a 32% rise compared to 2021. Therefore, after only the first nine months of the year, LienVietPostBank has completed its profit target for the whole year.

By September 30, 2022, the bank's total assets exceeded VND313 trillion ($12.6 billion), an increase of 8.5% compared to the beginning of the year. Outstanding loans to customers reached nearly VND228 trillion ($9.18 billion), while customer deposits hit more than VND193 trillion ($7.77 billion).

Its non-performing loans ratio decreased from 1.39% at the end of June 2022 to 1.32% at the end of September.