ABBANK maintains steady growth

Thursday, Oct 21, 2021 07:01

ABBANK achieves positive results in the first nine months of the year. — Photo courtesy of the bank

An Binh Commercial Joint Stock Bank has announced its results for the first nine months of the year, with pre-tax profit rising 65 per cent to nearly VND1.56 trillion (US$68.8 million), after sustaining steady growth in the third quarter despite COVID-19.

Its capital adequacy ratio was 11.87 per cent, far above the Basel II minimum requirement of 8 per cent.

The bad debts ratio was 2.06 per cent, within the safe threshold prescribed by the State Bank of Viet Nam.

Its earnings from services in the first nine months increased by 42 per cent year-on-year to VND359 billion ($15.8 million).

The lender also provided great support to customers affected by the COVID-19 pandemic, reducing interest by VND 53.5 billion ($2.4 million) for 26,565 customers.

ABBANK was among YouGov BrandIndex’s top 10 improvers 2021 in Viet Nam in the banking sector.

It ranked among Forbes Vietnam’s 25 top financial brands in Viet Nam with an estimated value of $39.4 million. — VNS

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