ABBANK recorded positive results in many fields

ANTD.VN - As of September 30, 2024, An Binh Commercial Joint Stock Bank (ABBANK) recorded a breakthrough in the number of transactions on digital banking channels and growth in outstanding loans. Capital framework indicators continue to be guaranteed according to regulations. ABBANK also actively joined hands in supporting recovery after Typhoon Yagi and accompanying customers in business development.

Specifically, ABBANK's total assets at the end of the third quarter of 2024 reached VND 164,115 billion, an increase of 8% compared to the end of the second quarter of 2024, an increase of 1.3% compared to the beginning of the year; Total mobilization reached VND 147,018 billion, an increase of 8.8% compared to the second quarter, an increase of 1.6% compared to the beginning of the year; Total outstanding loans increased by 6.3% compared to the second quarter and an increase of 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% - always in the group of banks with high capital adequacy compared to the 8% level prescribed by the State Bank.

With continuous 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 of 2024 alone, the number of transactions via Digital Banking of customers at ABBANK has grown 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. In particular, the number of online transactions of corporate customers increased because ABBANK has started to introduce to customers the completely new ABBANK Business Digital Banking platform with many convenient features, effectively supporting corporate financial management.

In the third quarter of 2024, ABBANK also achieved a profit from service activities of VND 290 billion, an increase of 43% compared to the end of the second quarter of 2024.

ABBANK's bad debt ratio as of September 30, 2024 continues to be strictly controlled and maintained below 3% as prescribed in Circular No. 11/2021/TT-NHNN of the State Bank of Vietnam (SBV).

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 for the first 9 months of 2024 reached VND 252 billion. The profit level was lower than expected due to: The bank increased provisioning according to actual developments as well as the general context of total market demand being negatively affected by natural disasters.

In order to support customers affected by Typhoon Yagi, in September 2024, ABBANK announced a reduction in lending interest rates of up to 1.5%/year for individual customers with production and business loans at the Bank and a maximum interest rate reduction of 1%/year for existing SMEs customers.

In addition to the policy to support customers to overcome natural disasters, many interest rate support programs for production and business development continue to be implemented by ABBANK throughout the beginning of 2024, such as: the program "Connecting needs - Expanding solutions" for SME customers with a total limit of up to 8,000 billion VND, 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.

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