LPBank appoints new CEO

Tien, 52, has been with the bank since 2010 and has 30 years of experience in the financial and banking sector, including in senior positions at several companies.

He replaces Pham Doan Son, who resigned as CEO in March due to personal reasons.

LPBank is focused on digital transformation in the next five years and has ambitions of becoming the top retail bank in Vietnam.

LPBank targets a pre-tax profit of VND6 trillion this year, up 11% from 2022.

The company eyes to increase its capital by VND11 trillion ($468 million), mostly by rights issue.