ABBANK reports $36.97 million profit in first nine months

An ABBANK branch. The lender’s pre-tax profit in the first nine months of the year increased by 30 per cent year-on-year to VND856 billion (US$36.97 million). — Photo courtesy of ABBANK

An Binh Commercial Joint Stock Bank has reported a pre-tax profit of VND856 billion (US$36.97 million) for the first nine months of the year, a 30 per cent increase over the same period last year.

Earnings from interest were worth VND1.82 trillion ($78.6 million), an increase of 17 per cent.

Its net profit from services was worth VND117 billion.

Non-performing loans continued to be under 3 per cent in accordance with State Bank of Vietnam regulations.

It had deposits of over VND67.65 trillion ($2.9 billion) at the end of September and loans outstanding of more than VND52.35 trillion ($2.2 billion), up 13 per cent and 15 per cent from a year earlier.

Its return on assets was 1.3 per cent and return on equity was 16.2 per cent. Its capital adequacy ratio was 11.1 per cent. — VNS