CEO of LienVietPostBank resigns

Pham Doan Son, who has stepped down from LienVietPostBank’s CEO position. Photo courtesy of the bank

Son, born in 1967, joined LienVietPostBank (LPB) in 2008 as head of the control department, before being promoted to be CEO.

The board of directors said it has accepted his resignation, and “highly values Son’s contributions to the bank’s administration and the development of its retail sector.”

Temporarily replacing Son is Ho Nam Tien, born in 1971, who has been the bank’s deputy CEO since August 2010.

Ho Nam Tien, who will serve as LienVietPostBank’s CEO from March 17, 2023. Photo by LPB

The bank’s high-level personnel change came more than three months after Nguyen Duc Thuy became its board chairman. Thuy was voted into the board in April 2021, became its deputy chairman a week later and its board chairman in late 2022.

Former board chairman Huynh Ngoc Huy had praised Thuy as a person with administration experience, good connection in the sector and strategic vision.

LienVietPostbank’s total assets reached nearly VND350 trillion (US$14.85 billion) at the end of 2022, up 13% from the beginning of the year and including nearly VND17.3 trillion of registered capital. The bank’s pre-tax profit increased 56% year-on-year to VND5.69 trillion lat year. It is a commercial bank with one of the largest network of transaction points in Vietnam – more than 1,000.