LPBank Chairman Nguyen Duc Thuy did not receive the second consecutive remuneration despite the budget for him and the bank leaders up to 50 billion dong.
Auditing financial statements in 2024 of Loc Phat Vietnam Bank (LPBank, formerly LienVietPostBank) showed that Mr. Nguyen Duc Thuy was the only one in the Board of Directors not to receive remuneration.
Mr. Thuy, born in 1976, joined the LPBank Board of Directors from the end of April 2021 and became the president in 12/2022. In the first year, the Chairman, he received nearly 3.9 billion. He currently owns more than 70.7 million shares, equivalent to 2.76% of this bank capital.
Last year, the total remuneration of the LPBank leadership was much lower than the VND 50 billion passed by shareholders.
Specifically, three vice presidents include Mr. Nguyen Van Thuy, Hunan Tien and Bui Thai Ha received 1.2 billion dong each, higher than the previous year about 400 million. Other members of the Board of Directors receive about 1 billion.
Mr. Nguyen Duc Thuy, Chairman of LPBank. Image: LPB
The Bank Supervisory Board received a total of VND 2.6 billion, lower than the previous year. The Executive Board and Chief Accountant received a total of 9.4 billion dong.
LPBank last year spent more than 3,150 billion dong to pay salaries and bonuses for 11,505 employees. The average monthly salary of each employee is 19.76 million, and the average income is about 22.8 million dong, down about 1 million VND per month compared to the previous year.
The bank reported a pre -tax profit of VND 12,168 billion, completed 116% of the profit target and officially joined the banking group of over VND 10,000 billion. Total assets by the end of the year more than 508,330 billion, up 33% compared to the beginning of the year. Bad debt (group 3-5) is approximately 5,200 VND, resulting in a bad debt ratio increased from 1.34% to 1.4%.