VNPost to sell over 122 mln LienVietPostBank shares

The Hanoi Stock Exchange has announced an auction to sell shares of Lien Viet Post Commercial Joint Stock Bank owned by Vietnam Post Corporation.

The number of shares for auction is equivalent to 10.15% of LienVietPostBank's share capital. The starting price is about 34% higher than the market price of LPB on the stock market.

If the divestment is successful, VNPost will collect at least more than VND3,534 billion. The auction is scheduled to be held on February 23.

VNPost successfully divested 18 million PTI shares of Post and Telecommunications Insurance Corporation (HNX: PTI) with the starting price of VND47,310 apiece.

The highest bidding price was VND82,000 per share and the lowest bidding price was VND56,100 a share. The highest bid volume was over 11 million shares and the lowest bid volume was over 7.22 million shares.

LienVietPostBank reported 2021 pre-tax profit at over VND3,639 billion, up 50% from 2020. The main contributor to the bank's profit came from net interest income, which increased by more than 34%.

Net profit from services also increased by 36.9%, bringing in nearly 858 billion dong for the bank; income from foreign exchange business increased sharply by 125% over the same period last year with nearly VND140 billion.

Net profit from LienVietPostBank's operations reached more than VND 4,961 billion, 1.6 times higher than the same period last year.

As of end-2021, the bank's total assets increased by 19.3% compared to the beginning of the year to VND 289,194 billion, of which customer loans increased by 18.3% to VND208,954 billion.

Customer deposit balance at LienVietPostBank increased by 3.3% to more than VND180,200 billion.