According to documents just released by ABBANK, the Bank's foreign strategic shareholder, Maybank, officially authorized Mr. Syed Ahmad Taufik Albar to be the 100% capital representative of Maybank at ABBANK from 05 June 2025.
At the same time, according to Maybank's announcement, Mr. Michael Foong Seong Yew is no longer Maybank's capital representative at ABBANK. Mr. Michael Foong Seong Yew accordingly is no longer a member of the Board of Directors of ABBANK from June 5, 2025 based on the provisions of Point c, Clause 1, Article 45 of the Law on Credit Institutions 2024 and Point c, Clause 1, Article 25 of the ABBANK Charter.
Mr. Syed Ahmad Taufik Abar, born in 1972, was nominated by Maybank and elected as a member of the Board of Directors of ABBANK at the General Meeting of Shareholders of ABBANK on April 18, 2025. Mr. Syed Ahmad Taufik Albar is an expert in the fields of Accounting, Finance - Banking with 27 years of experience and holds important positions at Shell Oil and Gas Group (Malaysia, Australia), Axiata Telecom Group (Malaysia, Cambodia), RHB Bank (Malaysia), Maybank (Malaysia). Mr. Syed Ahmad Taufik Albar is currently the Director of Community Financial Services of Maybank Group.
Maybank currently owns 16.4% of ABBANK's charter capital. Accompanying since 2008, ABBANK and Maybank regularly implement cooperation activities, sharing experiences in the fields of Retail Banking, Digital Banking and the segment of Small and Medium Enterprises (SME) ... These are areas in which Maybank has experience and strengths in the market, in line with ABBANK's strategic orientation for retail banking development.
In the first 5 months of the year, ABBANK continued to maintain a stable and sustainable business pace, and digital transformation work was strongly implemented. By the end of May 2025, ABBANK recorded nearly VND 1,500 billion in pre-tax profit, credit increased slightly compared to the beginning of the year. May 2025 is also the pivotal month for the digital banking sector when ABBANK has completed the shift of existing customers to a new Digital Banking platform called ABBANK (replacing the old AB Ditizen application). It is expected that the ABBANK digital banking platform for individual customers will be launched and widely introduced to the community in June 2025.
Along with that, from the beginning of 2025, ABBANK has shown its determination to pursue a sustainable development strategy, focusing on the Social pillar (S) through the implementation of signing cooperation agreements with organizations and enterprises to accompany the implementation of CSR initiatives with depth and creating long-term impacts on society, including: Vietnam Science and Technology Enterprise Startup Fund (Startup Vietnam Foundation - SVF), Vietnam Community Enterprise Development Group Joint Stock Company - VietED Group, 315 Medical Technology System.
