According to the audited financial report, at the end of 2024, ABBANK (An Binh Commercial Joint Stock Bank) recorded growth in important indicators: ABBANK's total assets reached VND 176,619 billion, up 9.04% compared to the end of 2023, reaching 103.9% of the 2024 plan.
Outstanding credit reached VND 110,099 billion, up 7.47% compared to 2023. Mobilized from customers and issued documents with a price of VND 109,960 billion, down slightly compared to 2023.
In 2024, ABBANK has set aside VND 1,412 billion in credit risk reserves to improve risk resilience, ensure financial safety, and sustainable development.
At the same time, the Bank has adjusted lending interest rates to promptly support businesses and individuals according to the Government's orientation from the beginning of the year.
Accordingly, pre-tax profit in 2024 after audit was recorded at 779 billion VND, an increase of 51.68% compared to 2023. Bad debt on total outstanding debt at the end of 2024 was at 2.48%, in compliance with the regulations on controlling bad debt under 3% of the SBV in Circular No. 11/2021/TT-NHNN.
In 2024, ABBANK recorded growth in the number of customers in both individual and small- and medium-sized-sized customer groups, respectively 7.17% and 4.81% compared to 2023 thanks to providing financial solutions based on understanding the micro-market, continuously improving and enhancing the Customer experience.
In 2024, ABBANK's strong transition of the strong digital transformation focuses on technology solutions, non-cash payments, remote transactions, increasing utilities for customers such as electronic payment systems (E-Payment) directly connected with EVN, building authentic systems and signing of concentrated numbers, collecting households via Virtual Account virtual accounts, seaport payment with seafood plans ...
In particular, the Bank has developed the ABANK app for individual customers and the ABBANK Business platform for corporate customers based on customer understanding and in line with the Bank's service development orientation.
The scale of transactions on digital banking channels therefore also recorded growth, with the number of transacting customers increasing by 11.8% and the number of transactions on digital channels increasing by 70.08% compared to 2023.
In 2024, ABBANK reviewed and implemented a restructuring of the business model, enhancing proactive risk control based on Mc Kinsey's strategic consulting platform and analyzing and evaluating the effectiveness of practical operations.
Organizing the 2025 Annual General Meeting of Shareholders
Along with the announcement of the 2024 Financial Report after the audit, ABBANK informed the Shareholders about the organization of the Annual General Meeting of Shareholders on April 18, 2025.
At the meeting of the General Meeting of Shareholders in 2025, ABBank plans to submit to the Congress for approval of business targets in 2025 as follows: Profit before tax reached VND 1,800 billion, up 131% compared to 2024; Total assets reached VND 200,000 billion, up 13% compared to 2024; Mobilizing from customers increased by 5% to 115,458 billion dong; Credit balance increased by 16% to 127,810 billion dong (adjusted according to the management mechanism of credit growth from the SBV); Continue to control the bad debt ratio to be below 3% in accordance with the regulations of the State Bank.
Regarding the profit distribution plan for 2024, ABBANK proposed to leave all remaining undistributed profits to supplement capital to implement the strategic plan, creating internal accumulation to increase charter capital in the future.
The remaining after-tax profit after setting aside the Bank's funds in 2024 is VND 470.4 billion. Accordingly, along with the remaining unused profits of previous years, ABBANK's total united profit is VND2,311 billion.
At the Congress, it is expected that Shareholders will also approve the change of Board of Directors (BOD) members for the 2023-2027 term due to the change of 1 capital representative of Maybank Joint Stock Company and 1 independent board member with a resignation letter according to personal wishes.
On January 5, 2025, foreign strategic shareholder Maybank sent a document to ABBANK announcing the nomination of Mr. Syed Ahmad Taufik Albar as a member of the Board of Directors of ABBANK and as the representative of 50% of Maybank's capital at ABBANK to replace Mr. John Chong Eng Chuan, effective immediately after completing related legal procedures.
On January 18, 2025, Mr. Tran Ba Vinh - an independent member of the Board of Directors submitted a resignation letter according to his personal wishes, effective from the time the General Meeting of Shareholders approved the dismissal.
