AsemconnectVietnam - At the end of the fourth quarter of 2024, An Binh Commercial Joint Stock Bank (ABBANK - stock code: ABB) recorded a 58% increase in pre-tax profit compared to 2023, reaching VND809 billion.

As of December 31, 2024, the Bank's total assets reached VND176,628 billion, an increase of 9% compared to 2023, reaching 104% of the annual plan; Total mobilization reached VND155,900 billion, an increase of 7.7% compared to 2023, reaching 108% of the annual plan; Total outstanding loans reached VND154,426 billion, an increase of 14.1% compared to 2023, reaching 110% of the annual plan.
Accordingly, ABBANK's pre-tax profit in 2024 increased by 58% compared to 2023, reaching VND809 billion, equivalent to completing 81% of the annual plan.
ABBANK's bad debt ratio as of December 31, 2024 continued to be strictly controlled and maintained below 3% as prescribed in Circular No. 11/2021/TT-NHNN of the State Bank of Vietnam (SBV). Along with a portfolio of high-value collateral for loans, ABBANK made provisions of VND1,387 billion for credit risk provisions, ensuring compliance with regulations on asset quality management. The capital adequacy ratio (CAR) continued to be ensured according to SBV standards.
ABBANK's digital transformation in 2024 also achieved positive results. In November 2024, ABBANK launched the ABBANK Business Digital Banking platform to the market, providing corporate customers with safe and convenient digital banking transaction experiences. The successful transition of existing corporate customers to digital channels has contributed to a sharp increase in the number of digital channel transactions of corporate customers at ABBANK, recording over 32% compared to the third quarter of 2024 and an increase of more than 129% compared to 2023.
For individual customer transactions, the number of transactions on digital channels also continued to grow well with an increase of 34% compared to the third quarter of 2024 and more than 66% compared to 2023.
In addition, the work of improving governance capacity and competitiveness according to the effective development strategy associated with sustainability has begun to be implemented by ABBANK through the launch of the project "Environmental and Social Management System" (ESMS) dedicated to Trade Finance, and the establishment of the ESG Sustainable Development Strategy Committee with the participation of senior personnel in the ABBANK Board of Directors.
N.Nga
Source: VITIC/Tinnhanhchungkhoan