Billionaire Phạm Nhật Vượng. — Photo courtesy of Vingroup

HÀ NỘI — Vietnamese billionaire Phạm Nhật Vượng has acquired a near-5 per cent stake in LPBank, becoming the lender's second-largest shareholder and marking a rare investment by the Vingroup chairman in a listed bank.

LPBank disclosed on Tuesday that Vượng owns more than 146.2 million LPB shares, equivalent to 4.894 per cent of the bank's charter capital, according to its latest list of shareholders holding at least 1 per cent of charter capital.

The stake places Việt Nam's richest businessman just below the 5 per cent threshold required to qualify as a major shareholder under securities regulations.

LPBank said the change took effect on June 23.

Following the update, LPBank has only two shareholders owning more than 1 per cent of its charter capital. Vietnam Post Corporation (VNPost) remains the largest shareholder with a 6.54 per cent stake, while Vượng ranks second with 4.89 per cent.

Representatives of both Vingroup and LPBank said the investment was made using Vượng's personal funds for financial investment purposes and 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 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 (US$570.3 million), while the lender is exploring new business models and opportunities linked to Việt Nam's planned international financial centre.

Based on LPBank's closing share price on Tuesday, Vượng's holding was valued at around VNĐ7.7 trillion ($293 million).

LPB shares rose by the daily limit to VNĐ52,600 following the disclosure. — BIZHUB