The Congress approved reports on ABBANK's 2024 performance and 2025 plan, emphasizing the goal of accelerating digital transformation, improving business efficiency based on customer understanding and sustainable development strategies.
The General Meeting of Shareholders of ABBANK has approved the 2025 business plan with important financial indicators, including:
Pre-tax profit reached VND1,800 billion, up 131% compared to 2024; Total assets reached VND200,000 billion, up 13% compared to 2024; Mobilization from customers and issuance of valuable documents reached VND115,458 billion, up 5% compared to 2024;
Outstanding credit reached VND 127,810 billion, up 16% compared to 2024 (adjusted according to the credit growth management mechanism from the SBV); Continue to strictly control the bad debt ratio, maintain it below 3% according to the SBV's regulations in Circular No. 11/2021/TT-NHNN and strive to reduce the bad debt level to 2%.
Commenting on ABBANK's 2025 plan, Mr. Dao Manh Khang - Chairman of the Board of Directors shared: "ABBANK sets a stronger growth target for 2025 based on the foundations built in recent years, promoting the bright spots achieved as well as drastic transformation actions in 2024.
At the same time, ABBANK will continue to strengthen internal resources, accelerate digital transformation, and focus on implementing a sustainable development strategy in 2025. We believe that, with the support of Shareholders, Partners, Customers and the community, ABBANK will continue to make steady progress, bringing value commensurate with potential and expectations.
Reporting at the General Meeting of Shareholders, ABBANK will focus on 5 key tasks in 2025, including:
Promote platform business activities, restructure business networks towards increasing customer experience; Streamline and optimize operating systems to reduce costs, improve efficiency and meet modern development trends; Strengthen and enhance business capacity, put customers at the center of the digital era;
Strengthen risk management and improve operational efficiency, create a safe foundation for sustainable credit growth, continue the commitment to building a reliable and efficient financial institution; Promote innovation through the implementation of sustainable development initiatives that comply with ESG standards, contributing to creating a comprehensive and responsible financial environment.
In 2025, ABBANK focuses on promoting sustainable development through a deep understanding of the micro market in key locations, while understanding customer needs to design specialized financial solutions to meet the needs of each segment.
The "customer awareness" strategy has contributed to ABBANK's positive business results in 2024, growing the number of target customers in both the science and technology and SMEs groups by 7.17% and 4.81% respectively over the same period in 2023.
In particular, the provision of convenient and continuously improved financial solutions to improve customer experience with convenient features on digital banking applications has helped the transaction scale on digital channels record good growth, with the number of transaction customers increasing by 11.8% and the number of transactions on digital channels increasing by 70.08% compared to 2023.
Following the successful launch of the digital banking application for corporate customers (ABBANK Business), in December 2024, the completely new digital banking application for individual customers developed by the self-developed bank named ABBANK was completed, bringing positive reception.
It is expected to complete the conversion of individual customers to a new digital application platform, completely replacing the current AB Ditizen application in the second quarter of 2025.
Within the framework of the Congress, ABBANK Joint Stock Company also approved the profit distribution plan for 2024, continuing to unify the removal of all remaining undistributed profits to supplement capital sources to implement the strategic plan, creating internal accumulation to increase charter capital in the future.
In 2024, the remaining after-tax profit after setting aside ABBANK's funds is VND 470.4 billion; together with the remaining profit of previous unused years, ABBANK's total united profit is VND 2.311 billion (not including the reserve funds that have increased charter capital, the financial reserve fund that has been set aside).
The congress approved the end of the Board member's status to Mr. John Chong Eng Chuan due to change of Maybank's capital representative at ABBANK. Exemption from independent members of the Board of Directors for Mr. Tran Ba Vinh according to the aspiration of Cu Nham. Electing Mr. Syed Ahmad Taufik Albar as a member of the Board of Directors and elected Mr. Trinh Thanh Hai as an independent member of the Board of Directors to replace new members of the Board of Directors.
The General Meeting of Shareholders also approved other reports and reports of the meeting of the meeting; Through the charter and internal regulations on management, operational regulations of the Board of Directors, the operation regulations of the Supervisory Board on the basis of reviewing, amending and supplementing current documents to synchronize and in accordance with the new provisions of the Law on Credit Institutions 2024; Through the expected remedial plan in case of early intervention as prescribed in Article 143 of the Law on Credit Institutions.
