LPBank and EY Consulting VN sign a contract for consulting and implementing a Multi-Dimensional Profitability Analysis System

DNHN - On February 5, 2024, in Hanoi, Lien Viet Post Bank (LPBank) and EY Consulting Vietnam Joint Stock Company (EY Consulting VN) signed a contract for consulting and implementing a Multi-Dimensional Profitability Analysis (MPA) System.

The Multi-Dimensional Profitability Analysis System (MPA) is being applied in many banks around the world as well as in the Vietnamese market, operating on the principle of building a system to synthesise and analyse all data on business results, analysing in detail each customer, product, and business unit. As part of the digital transformation strategy, the Multi-Dimensional Profitability Analysis System project will help LPBank complete the internal governance ecosystem, and the financial reporting system, and form a closely linked block of bank data governance.

In 2024 and the following years, with the motto of “strong growth, comprehensive efficiency”, LPBank will continuously increase its competitiveness by applying new technology standards. When operating, the Multi-Dimensional Profitability Analysis System will be a powerful tool to support the Bank’s Board of Directors in effectively managing profits, creating real value in business, and providing corresponding profit analysis information to effectively support LPBank’s strategic decision-making.

Speaking at the ceremony, Mr Ho Nam Tien - Vice Chairman of the Board of Directors cum General Director of LPBank emphasised: “I believe that with LPBank’s determination and strong commitment in combination with EY Vietnam’s professionalism and prestige in implementing this project, we will have a perfect product - a truly effective tool that will soon help LPBank improve its operational efficiency and service quality”.

Based on the prestige and experience of implementation in many countries, Ms Nguyen Thuy Duong - Chairwoman of EY Consulting VN affirmed: “The Multi-Dimensional Profitability Analysis Project will provide effective management financial information, serving as the basis for the Bank’s management and business decisions. With EY Consulting VN’s extensive experience in similar projects in the Vietnamese and international markets, together with the determination and management capacity of LPBank’s Board of Directors, we believe that the project will be successfully implemented with the highest quality, ensuring progress, and timely meeting the Bank’s business management needs.”

In addition to the MPA project, in 2023, LPBank successfully implemented digital transformation projects in internal governance such as RPA (internal process digitalisation by robots), and L-Office (paperless office), and initiated many important projects such as the project of replacing Corebanking with T24, the Kondor Treasury Font-to-bank system, etc. to improve competitiveness and increase value for customers, partners, and shareholders.

Thanh Cong