DNVN - On April 5, An Binh Commercial Joint Stock Bank (ABBANK) successfully held the 2024 General Meeting of Shareholders, approving the plan to improve business efficiency, promote digital transformation, focus on implementing the Banking Strategy Renewal project, and transform the operating model to suit the requirements of the new period.
Regarding business targets for 2024, ABBANK shareholders have approved the pre-tax profit plan expected to reach VND 1,000 billion. Other important targets are also expected to grow, such as: total assets expected to reach VND 170,000 billion, up 5% compared to 2023; outstanding credit balance reaching VND 116,272 billion and mobilization from customers reaching VND 113,349 billion, both up 13.5% compared to 2023. Bad debt on total outstanding debt is expected to be controlled at below 3% in accordance with regulations of the State Bank of Vietnam (SBV).
To achieve the set goals, ABBANK will increase activities to attract a large number of customers for individual customers and small and medium enterprises (SMEs), innovate products according to segments and improve customer relations based on in-depth analysis of customer needs.
Bad debt on total outstanding debt is expected to be controlled by the bank at below 3%.
Improve customer experience on physical and digital banking channels, review locations and redesign the branch/transaction office network model to optimize consulting and service activities for customers.
The bank also continues to streamline its operational processes. In particular, it focuses on optimizing lending processes through refining the credit model and redesigning the lending journey. It focuses on investing in improving the bank's operational capacity, identifying risk management and information technology as key capabilities that need to be strengthened and developed.
Sharing about ABBANK's development plan, Mr. Dao Manh Khang - Chairman of the Board of Directors said: "2024 will be the starting year of a new medium-term strategic phase that is fundamental and creates a foundation for future growth. Based on comprehensive market and customer analysis, ABBANK will complete and implement the Strategic Plan for the next 5 years with priority initiatives to serve the needs of customers in each key segment. With the determination to transform, we believe that ABBANK will break through again in the group of banks with quality services, safe operations and positive growth".
Regarding the 2023 profit distribution plan, ABBANK shareholders agreed to retain all remaining undistributed profits to supplement capital sources to implement strategic initiatives, creating internal accumulation to increase charter capital in the future. Specifically, the remaining after-tax profit after setting aside the bank's funds in 2023 is VND 298.7 billion. Accordingly, together with the remaining unused profits of previous years, ABBANK's total undistributed profits are currently VND 1,840.7 billion.
At the meeting, shareholders also approved the financial assessment reports; the activities of the Board of Supervisors in 2023 and the Board of Supervisors' 2024 Operation Plan; as well as approved the dismissal and election of replacement members of the Board of Supervisors for the 2022-2027 term. Accordingly, the list of new members of the Board of Supervisors includes: Ms. Nguyen Thi Hanh Tam (Head of the Board of Supervisors); Ms. Nguyen Thi Thanh Thai (Member of the Board of Supervisors) and Mr. Nguyen Hong Quang (Member of the Board of Supervisors - replacing Ms. Pham Thi Hang who previously resigned).
Tran Minh
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