In 2022, LienVietPostBank's total pre-tax profit reached 5,689 billion VND, an increase of 54% compared to the same period in 2021. Currently, this bank owns more than 418 trillion VND of mortgage real estate, accounting for 68% of the total collateral value, 1.77 times higher than total outstanding loans, up 44% compared to the same time last year.Lien Viet Commercial Joint Stock Bank (LienVietPostBank, HOSE: LPB) has just announced its 2022 audited financial statements.

Accordingly, by the end of 2022, LienVietPostBank's total pre-tax profit reached  5,689 billion VND, up 54% over the same period in 2021. Net interest income reached nearly 12,000 billion VND, up 31% over the same period in 2021. Stock investment trading reached 345 billion dong, a sharp increase over the same period of more than 1 billion dong. Interest from insurance activities also helped this bank earn more than 1,600 billion VND, an increase of 2.4 times, equivalent to an increase of 146% compared to the same period in 2021.

Provision fee for credit risks jumped to 3,200 billion, up 140% over the same period last year

In 2022, LienVietPostBank's net profit from business activities reached VND 8,863 billion, but this bank had to spend nearly 3,200 billion VND on credit risk provision expenses, this cost was 2.4 times higher, equivalent to an increase of 140 % over the same period in 2021.

In which, provision for customer’s loans rocketed from 1,080 billion VND to more than 2,910 billion VND, 2.6 times higher, equivalent to an increase of 170% compared to the same period last year. This bank also created 2 new provisions including, 58 billion dong for loans to other credit institutions and nearly 3 billion dong for the risk of debt purchases.

"Holding" more than 418 trillion VND of mortgaged real estate, 1.77 times higher than the total loan

According to the financial statement of 2022, LienVietPostBank recorded collateral reaching 611,000 billion VND, up 35% compared to the same period in 2021. In which, the value of collateral being real estate reached VND 418,000 billion, accounting for 68.5% the total value of collateral at the bank, increased by more than 128,500 billion VND (equivalent to 44% increase) compared to the same period last year and 1.77 times higher than the total loan balance in 2022.

Thus, each VND of loan at LienVietPostBank is guaranteed by 1.77 VND of real estate as collateral.

About to auction more than 140 million shares at LienVietPostBank

On April 21, the Hanoi Stock Exchange (HNX) will hold an auction of shares of LienVietPostBank owned by Vietnam Post Corporation (VNPost).

The transfer of VNPost invested capital in LienVietPostBank is to implement the Government's direction on restructuring VNPost's capital contribution in the banking and insurance sectors. At the request of the Ministry of Information and Communications about divesting implementation of LienVietPostBank.

LienVietPostBank was founded in 2008 with the name Lien Viet Commercial Joint Stock Bank and 3 years later changed its name to Lien Viet Post Commercial Joint Stock Bank. After 9 times of increasing charter capital. By January 2023, the Bank's actual contributed charter capital was more than 17,291 billion VND.Currently, LienVietPostBank has a head office, three representative offices, 80 branches, and 481 transaction offices in 63 provinces and cities nationwide.Products and services provided by LienVietPostBank include credit products, Lienviet 24h digital banking products, insurance products and other traditional products and services to each field of the bank.LienVietPostBank is currently investing and contributing capital to Lien Viet Securities Joint Stock Company and Viet Lao Electricity Joint Stock Company with a total value of nearly 316 billion VND.Currently, LienVietPostBank's LPB share price opened on April 17 and the trading price at 14,800/share.

Source: Taichinhdoanhnghiep