ABBank releases 2016 business results

Tuesday, Jan 31, 2017 11:31

Its strong retail banking service helped An Binh Commercial Joint Stock Bank post pre-tax profit of VND288 billion (US$12.8 million) for 2016. — Photo

The An Binh Commercial Joint Stock Bank (ABBank) has announced that its pre-tax profit reached VND288 billion (US$12.8 million) in 2016, representing an annual increase of 169 per cent, mostly thanks to strong returns from the retail banking segment.

Last year, the bank mobilised an amount of capital worth VND52.2 trillion, a year-on-year rise of 9 per cent, while lending surged by 30 per cent on last year’s figure to reach VND40.1 trillion.

The amount of non-performing loans was kept under 3 per cent.

 As of December 2016, ABBank’s charter capital was recorded at VND5.3 trillion, 10.8 per cent higher than the level posted by the end of last year.

ABBank general director Cu Anh Tuan said that the bank would continue focusing on the retail banking sector this year and list its shares on the stock market. — VNS

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