ABBANK promotes digital transformation, supports customers after the storm

(Dan Tri) - As of September 30, An Binh Commercial Joint Stock Bank (ABBANK) has made a breakthrough in the number of transactions on digital banking channels and growth in outstanding loans. The bank actively supports customers to recover from Typhoon Yagi and develop their business.

Total assets of ABBANK at the end of the third quarter reached VND 164,115 billion, up 8% compared to the end of the second quarter, up 1.3% compared to the beginning of the year; total mobilization reached VND 147,018 billion, up 8.8% compared to the second quarter, up 1.6% compared to the beginning of the year; total outstanding loans increased 6.3% compared to the second quarter and up 3.5% compared to the beginning of the year.

ABBANK's solid capital framework continues to be demonstrated through the capital adequacy ratio (CAR) reaching 11.02% - among banks with high capital adequacy compared to the 8% level prescribed by the State Bank.

In the third quarter, ABBANK's total outstanding debt increased by 3.5% compared to the beginning of the year.

With efforts to improve customer experience and service quality, ABBANK has recorded many positive results from digital transformation with the number of transactions per customer tending to increase steadily since the beginning of the year.

In the third quarter alone, the number of digital banking transactions of customers at ABBANK grew strongly: with individual customers increasing by 47% compared to the second quarter and increasing by 82% compared to the same period in 2023; with corporate customers increasing by an impressive 248% compared to the second quarter and increasing by 145% compared to the same period last year.

The number of online transactions of businesses increased by an impressive 248% compared to the second quarter.

ABBANK has a solid capital framework with a capital adequacy ratio (CAR) of 11.02% - among banks with high capital adequacy levels according to the State Bank's regulations.

The increase in the number of online transactions of corporate customers comes from the fact that ABBANK has started to introduce to customers the new ABBANK Business digital banking platform with many convenient features, effectively supporting corporate financial management.

In the third quarter, ABBANK recorded profit from service activities at VND 290 billion, an increase of 43% compared to the end of the second quarter.

As of September 30, ABBANK's bad debt ratio continued to be tightly controlled and maintained below 3% as prescribed in Circular No. 11/2021/TT-NHNN of the State Bank.

In order to be more proactive and cautious in credit granting activities, ABBANK has set aside VND 1,166 billion for credit risk provisions, with a bad debt coverage ratio of 53%, along with a portfolio of high-value collateral assets.

ABBANK's pre-tax profit in the first 9 months of the year reached VND252 billion. The profit level was lower than expected because the bank increased its provisioning according to actual developments as well as the general context of total market demand being negatively affected by natural disasters.

ABBANK actively joins hands in supporting recovery after typhoon Yagi and accompanies customers in developing production and business.

With constant efforts to improve customer experience and service quality, ABBANK is considered a trusted companion of millions of customers.

In order to support customers affected by Typhoon Yagi, in September, ABBANK announced a reduction in lending interest rates of up to 1.5%/year for individual customers with business loans at the bank and a maximum interest rate reduction of 1%/year for existing SME (small and medium enterprises) customers.

In addition to the policy to support customers in overcoming natural disasters, many interest rate support programs for production and business development have continued to be implemented by ABBANK since the beginning of the year, such as: the program "Connecting needs - Expanding solutions" for SME customers with a total limit of up to 8,000 billion VND, with special preferential interest rates from 5%/year; or the program "Easy loans - Business as desired" for individual customers with interest rates from only 4.99%/year and many other convenient solution packages.

Source: https://dantri.com.vn/kinh-doanh/abbank-day-manh-chuyen-doi-so-ho-tro-khach-hang-sau-bao-20241030115021901.htm