LienVietPostBank denies rumour of merger with Sacombank

LienVietPostBank’s general director, Phạm Doãn Sơn, has denied rumours about the bank merging with Sacombank. - Photo LienVietPostBank

HÀ NỘI — LienVietPostBank’s general director, Phạm Doãn Sơn, has denied rumours about the bank merging with Sacombank.

Rumours about the merger have been afloat since LienVietPostBank’s former chairman, Dương Công Minh, became Sacombank’s chairman and Him Lam Co’s divestment from LienVietPostBank. Minh last week also registered to buy an additional  一 八 million shares of Sacombank, expecting to raise his stake at the bank to  三. 一 五 per cent.

Sơn affirmed that there will be no merger, adding that LienVietPostBank’s business performance is currently very good and will be even better in the next few years, so that it does not need to merge with anyone.

According to Sơn, LienVietPostBank has gradually become strong with more than  二00 bank transaction offices and more than  一,000 post offices, which have eased the bank in capital mobilisation and lending. The bank’s mobilised capital and lending through the post offices last year reached more than VNĐ 四0 billion (US$ 一. 七 六 million) and VNĐ 一 四 trillion, respectively. It also makes retirement salary payments through the post offices.

By September  三0, the bank’s capital adequacy ratio (CAR) was good, at  一 一 per cent, as against the central bank’s  九 per cent regulation.

The bank also nearly meets the  二0 一 七 pre-tax profit plan of VNĐ 一. 五 trillion as it gained a pre-tax profit of VNĐ 一. 四 五 trillion in the first three quarters.

LienVietPostBank will be listed on UPCoM this Thursday at an initial price of VNĐ 一 四, 八00 per share. — VNS