ABBANK profit ups 11.3 per cent in 2020

Saturday, Jan 30, 2021 08:00

ABBANK meets all business targets set for 2020.— Photo courtesy of the bank

An Binh Commercial Joint Stock Bank reported an 11.3 per cent increase in pre-tax profit to VND1.368 trillion (US$59.39 million) last year.

It had deposits and loans outstanding of VND78.128 trillion ($3.39 billion) and VND69.469 trillion ($3.02 billion), up 4 per cent and 10.2 per cent.

Its non-interest income increased by 5.2 per cent to VND209 billion ($9.09 million), while earnings from interest fell by 3.8 per cent to VND2.345 trillion ($101.9 million).

Non-performing loans were 1.44 per cent. Its return on asset and return on equity were 1.4 per cent and 16.5 per cent, respectively.

At the end of last year the bank listed 571.3 million shares on the Unlisted Public Company Market (UPCoM), which will enable it to improve its financial capacity, governance and transparency.

Le Hai, its CEO, said 2021 is expected to bring challenges and the bank would focus on sustainable development and customer centricity, improving its services and creating more value added services. — VNS

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