AsemconnectVietnam -  In 2024, Nam A Commercial Joint Stock Bank's profit exceeded the target by 13.6%, Kien Long Commercial Joint Stock Bank exceeded VND1,100 billion. Notably, VietBank's (VBB) profit exceeded VND1,000 billion for the first time and ABBANK recorded a profit increase of 58% compared to 2023.

Nam A Bank
At the end of 2024, the business results of Nam A Commercial Joint Stock Bank (Nam A Bank, code NAB - HOSE) recorded growth in operating scale, increased asset quality, and effective mobilization and credit balance indicators...
Although the macro economy still faces many challenges, the Bank has maintained the above results thanks to its correct business strategy, flexible adaptation and strict risk management system.
Credit increased by 18.34%, profit exceeded the target by 13.6%
In 2024, Nam A Bank's total assets reached more than VND245,000 billion, an increase of nearly 16.8% over the same period in 2023; Capital mobilization reached nearly VND179,000 billion, an increase of more than 9% over the same period in 2023.
In 2024, Nam A Bank's credit activities reached nearly VND168,000 billion, an increase of 18.34% compared to the beginning of the year. The growth of these indicators contributed to Nam A Bank's pre-tax profit in 2024 reaching more than VND4,545 billion (exceeding the assigned target by 13.6% and growing by nearly 38%).
The ROE (return on equity) ratio remained at 20%, ROA was 1.5%, showing that the Bank not only grew in scale and achieved profitability but also improved the quality of operations.
Controlling bad debt at 2.1%
By the end of December 31, 2024, Nam A Bank's bad debt was at 2.1%, the Bank also increased its provisions to cover bad debt to 60%. The consolidated capital adequacy ratio (CAR) reached 12.46% (the minimum level prescribed by the SBV is 8%).
Last year, the SBV adjusted the credit growth target for credit institutions (CIs) twice according to specific principles, ensuring publicity and transparency. In addition, the SBV required CIs to strictly implement instructions on monetary and credit activities, regulations on credit granting to improve business efficiency, ensure system safety and stabilize the monetary market; safe, effective and healthy credit growth, limit the increase and occurrence of bad debts, and ensure the safety of CIs' operations.
Together with joint stock commercial banks to promptly implement the above policies, Nam A Bank proactively reviewed and adjusted credit policies, ensuring compliance with market developments and minimizing potential risks. Liquidity indicators are always kept at a safe level with the LDR ratio (loan to deposit) reaching 80.64%, while the ratio of short-term capital to medium and long-term loans remains at around 21.41%.
Nam A Bank's risk management system is continuously upgraded according to international standards on Basel II and Basel III, Basel Reform... Also in 2024, Nam A Bank has completed financial reporting according to international standards (IFRS).
From 2020, Nam A Bank has strongly transformed digitally as well as expanded its scale of operations across provinces and cities across the country. In 2024 alone, Nam A Bank will open and put into operation 05 more branches, 03 new transaction offices and expand the ONEBANK digital transaction point to 14 points.
KienlongBank
According to the consolidated financial report, Kienlong Commercial Joint Stock Bank (KienlongBank; UpCOM: KLB) has impressive business growth, with pre-tax profit surpassing VND1,100 billion for the first time in 2024.
According to data from the recently released financial report, Kienlongbank's pre-tax profit in the fourth quarter of 2024 reached VND352 billion.
Operating expenses in the quarter showed signs of a slight increase, mainly due to investment in technology enhancement and improvement, focusing on developing products and services on digital channels according to each segment and customer group. With this result, the total accumulated pre-tax profit in 2024 exceeded VND1,100 billion, completing 139% of the annual plan.
By the end of the fourth quarter of 2024, KienlongBank's total assets reached VND92,176 billion, an increase of VND5,204 billion (equivalent to 6%) over the same period last year, affirming its position as a sustainable commercial bank.
Total capital mobilization reached VND82,906 billion, an increase of VND6,963 billion (equivalent to 9.2%); outstanding credit reached VND61,431 billion, an increase of VND8,852 billion (equivalent to 16.8%) over the previous year - recording a credit growth coefficient higher than the average rate of the entire banking industry.
The early and proactive implementation of Basel III and synchronous ESG standards along with many modern management tools helps KienlongBank increase the proportion and quality of capital, build a larger reserve buffer to reduce operational risks. In addition, the Bank also improves its ability to grasp and create a solid risk management framework, contributing to the safe, effective and sustainable development of business activities.
In 2024, the Bank also elected additional members of the Board of Directors and the Supervisory Board at the Extraordinary General Meeting of Shareholders in October. The completion of the senior personnel structure not only aims to improve management capacity and promptly respond to the Law on Credit Institutions 2024, but also helps the Bank build and propose appropriate strategies and orientations in each period to achieve the set goals.
Regarding asset quality, as of December 31, 2024, KienlongBank recorded a bad debt ratio of 1.91%, which is low compared to the general level of the whole industry, ensuring compliance with the requirements of the State Bank. To achieve this result, the Bank has well controlled credit capital, limited risks, focused capital flows on selected areas, promoted capital sources for key products including expanding rice cultivation loans in the Mekong Delta and lending products associated with Women's Union members, farmers, etc.
Although controlling and maintaining the bad debt ratio well, with a cautious attitude and proactive mindset in all situations, KienlongBank has allocated and optimized resources in provisioning activities. This is to improve asset quality, strengthen the solid buffer, increase the bad debt coverage ratio, and ensure safe and sustainable operations. By the end of 2024, the Bank's bad debt coverage ratio reached 80%, a sharp increase compared to the previous year.
VietBank
Vietnam Thuong Tin Commercial Joint Stock Bank (VietBank, UPCoM: VBB) has just announced its consolidated financial report for the fourth quarter of 2024, with pre-tax profit of nearly VND311 billion. Accumulated for the whole year of 2024, the bank's pre-tax profit was more than VND1,131 billion.
In the last quarter of 2024, VietBank's net interest income decreased by 3% compared to the same period, to nearly VND699 billion. The reason given by VietBank was due to the promotion of capital mobilization activities, so the cost of capital mobilization increased, reducing net interest income. However, accumulated for the whole year, Vietbank's main income still increased by 41%, recording more than VND2,811 billion in total net interest income.
Net profit from services was nearly VND27 billion in the fourth quarter of 2024, up 5% compared to the same quarter. Accumulated for the whole year increased by 32%, recording nearly VND137 billion in net profit from services. At the same time, foreign exchange trading activities became a bright spot when earning more than VND25 billion in profit, 3 times higher than the same period, thanks to favorable fluctuations in market exchange rates. However, investment securities trading activities only earned more than VND7 billion in profit in the fourth quarter, down 80%, due to unfavorable interest rate developments in the market, so the bank maintained a stable portfolio for the rest of the year. Accumulated for the whole year of 2024, this segment of Vietbank's activities decreased by 76%.
Income from other activities was more than VND456 billion in the last quarter of 2024, 8 times higher than the same period, due to the collection of debts that had been handled for risks. Accumulated for the whole year also grew significantly when recording nearly VND454 billion in income from other activities.
As a result, VietBank's net operating profit reached more than VND751 billion in the fourth quarter of 2024, up 89% year-on-year. However, the Bank has set aside more than VND440 billion for credit risk provisions, 21 times higher than the same period, resulting in only nearly VND311 billion in pre-tax profit, down 21% compared to the fourth quarter of the same period. Accumulated for the whole year of 2024, VietBank set aside nearly VND804 billion for risk provisions. However, the bank still had a pre-tax profit of more than VND1,131 billion, up 39% compared to 2023. This is also VietBank's most positive profit in the past 5 years and for the first time exceeded VND1,000 billion. Compared to the target set by VietBank at VND950 billion and the target of VND1,050 billion in pre-tax profit for the whole year of 2024, this bank has completed both plans assigned by the 2024 annual shareholders' meeting.
By the end of 2024, VietBank's total assets reached VND162,855 billion, an increase of 18% compared to the beginning of the year. Of which, customer loans increased by 16%. Meanwhile, customer deposits only increased slightly by 5% compared to the beginning of the year. The ratio of bad debt/outstanding debt increased slightly from 2.56% at the beginning of the year to 2.66%.
ABBANK
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