LPBank will change its English name to Fortune Vietnam Bank
Việt Nam•05/05/2024
Besides changing its Vietnamese name to Loc Phat Bank, Lien Viet Post Joint Stock Commercial Bank ( LPBank ) will change its English name to Fortune Vietnam Joint Stock Commercial Bank.
On May 4, LPBank announced the resolution of the Board of Directors on implementing procedures to change the bank's name, marking a new stage of development. After the name change, the full name of LPBank is Loc Phat Vietnam Joint Stock Commercial Bank, the Vietnamese abbreviation: Loc Phat Vietnam Bank; the full name in English is Fortune Vietnam Joint Stock Commercial Bank, the English abbreviation remains the same (LPBank). The new Vietnamese name of LPBank was approved by the bank's 2024 annual general meeting of shareholders (AGM) on April 17. However, LPBank surprised everyone with the name "Fortune Vietnam", because the AGM had previously approved the Board of Directors' Proposal to change the English name from "Lien Viet Post Join Stock Commercial Bank" to "Loc Phat Vietnam Join Stock Commercial Bank". Resolution of LPBank Board of Directors on changing the bank's name. According to LPBank's explanation, in English, the word "Fortune" means both luck and wealth. Thus, LPBank will have a new name, including: Vietnamese name is "Loc Phat Vietnam Joint Stock Commercial Bank"; English name is "Fortune Vietnam Joint Stock Commercial Bank", abbreviated name in English is "LPBank". LPBank believes that the new name is more suitable for the new development strategy, demonstrating LPBank's commitment to bringing the highest benefits to customers, partners and shareholders on the journey to becoming one of the leading banks in Vietnam. However, LPBank still has to wait for the approval of the State Bank before carrying out necessary procedures such as: Changing information on the operating license, changing the seal,... then changing the brand identity on the website and the system of branches, transaction offices... Recently, LPBank's Board of Directors also issued a resolution on implementing the plan to increase charter capital in 2024 to VND 33,576 billion. After increasing capital, LPBank officially entered the Top banks with the highest charter capital in the system.
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