ABBANK profits reach over $39.7 million

Thursday, Oct 22, 2020 08:00

An ABBANK branch. The lender’s pre-tax profit in the first nine months of the year reached VND924 billion (US$39.77 million). — Photo courtesy of ABBANK

An Binh Commercial Joint Stock Bank reported pre-tax profits of VND924 billion (US$39.77 million) for the first nine months of the year.

It had total assets of VND93.07 trillion ($3.99 billion) and loans outstanding of VNDD59.14 trillion ($2.5 billion), the latter representing 4 per cent growth for the year.

It has deposits of VND73.49 trillion, a year-on-year increase of 9 per cent.

Non-performing loans rose by 0.54 percentage points for the year to 2.26 per cent.

Indicators reflecting asset utilisation efficiency remained stable, with return on assets at 1.3 per cent and return on equity at 15.2 per cent.

The bank is preparing to list its shares on the stock market. — VNS

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