ABBANK meets targets in 2021

An Binh Commercial Joint Stock Bank has announced its 2021 results, saying it fulfilled all targets.

Its pre-tax profits were worth VND1.97 trillion (US$86.72 million), loans outstanding increased by 13.2 per cent to VND78.64 trillion, and deposits edged up to VND79.26 trillion.

To accomplish its business plans even as the economy was hit hard by COVID-19, ABBANK implemented programmes to strengthen its finances, controlled costs and improved the efficiency of operation, risk and credit management and debt settlement.

As a result, its capital adequacy ratio reached 12. 79 per cent and return on assets and equity were 1.5 per cent and 16.5 per cent, and bad debts were controlled at 1.45 per cent, within the safe threshold prescribed by the State Bank of Viet Nam.

Le Hai, CEO of the lender, said fulfilling business targets while also supporting customers affected by the pandemic was no easy task, especially in an unpredictable market."

In 2022 ABBANK will continue with its customer-centric strategy, improve the quality of business, operations and administration in a modern, efficient and flexible manner to make it easy to adapt to the new situation, he added

ABBANK won a number of honours last year, such as finding a place in the YouGov BrandIndex top 10 improvers in the banking sector and Forbes Vietnam's 25 top financial brands. — VNS