Vingroup's Pham Nhat Vuong buys 4.9% stake in LPBank for $293 million

Vingroup Chairman Phạm Nhật Vượng has acquired a nearly 5% stake in LPBank, a rare personal investment in a listed lender that makes Vietnam's wealthiest man its second-largest shareholder. The holding was valued at approximately VNĐ7.7 trillion ($293 million) based on the bank's closing share price on Tuesday.

LPBank disclosed the ownership change in a filing on Tuesday, stating that Vượng now holds more than 146.2 million LPB shares. This equates to 4.894% of the bank's charter capital, according to its latest list of shareholders with holdings of at least 1%. The change, which took effect on June 23, positions the billionaire just below the 5% ownership threshold required to qualify as a major shareholder under securities regulations.

Following the update, Vietnam Post Corporation (VNPost) remains LPBank's largest shareholder with a 6.54% stake. Vượng now ranks second, and they are the only two shareholders owning more than 1% of the lender's charter capital.

Representatives for both Vingroup and LPBank confirmed the investment was made using Vượng's personal funds for financial investment purposes. They also stated that he has no plans to participate in the bank's management or operations.

The stake disclosure follows a series of large transactions involving LPB shares in recent years, which had fuelled market speculation about potential changes in the bank's ownership structure. The investment also comes as LPBank pursues an ambitious expansion strategy. Shareholders have approved a 2026 pre-tax profit target of nearly VNĐ15 trillion ($570.3 million), while the lender explores new business models and opportunities linked to Vietnam's planned international financial centre.

In response to the news, LPB shares rose by the daily limit to close at VNĐ52,600 on Tuesday.