ABBANK reports pre-tax profit of VND 558 billion.

DNVN - At the end of the second quarter of 2024, An Binh Commercial Joint Stock Bank (ABBANK) recorded a pre-tax profit of VND 558 billion, reaching 56% of the annual plan.

According to the recently published financial report, as of June 30, 2024, ABBANK recorded total deposits of VND 135,086 billion, total outstanding loans of VND 131,784 billion, both achieving 94% of the targets set for 2024; pre-tax profit reached VND 558 billion, completing 56% of the annual plan.

ABBANK has set aside VND 640 billion in credit risk provisions, increasing its bad debt coverage ratio by more than 10.36% compared to the same period last year. The bad debt ratio at the end of the second quarter was maintained below 3%. In addition, ABBANK continues to demonstrate its strong capital adequacy ratio, maintaining its CAR at 12.1%, an increase of 1% compared to the end of 2023 and higher than the minimum requirement (>= 8%) of the State Bank of Vietnam (SBV).

The number of customers using digital banking and the number of online transactions via digital banking continued to grow strongly after the first six months of 2024, increasing by 4.77% and 98.18% respectively compared to the same period in 2023.

The above results reflect a positive shift in Q2 business performance amidst a still challenging market, and demonstrate a strong shift and growth in the digital channel for individual customers at ABBANK.

In 2024, ABBANK continued to focus its resources on implementing its transformation roadmap, with the advice and support of McKinsey – a global strategic management consulting firm. ABBANK aims to support customers based on a deep understanding of their specific needs and industries, choosing a more in-depth approach rather than simply expanding its reach to businesses; and enhancing customer experience on digital channels.

Phan Minh

Source: https://doanhnghiepvn.vn/kinh-te/tai-chinh-ngan-hang/abbank-bao-lai-truoc-thue-558-ty-dong/20240801071013792