Up to December 26, 2007, the total asset of ABBANK has been recorded at VND 17,000 billion, approximately more than USD 1 billion, which was an 538% increase. The chartered capital of ABBANK, in comparison with that of 2006, surged by 103%, which equaled to VND 2300 billion, and the entire outstanding account was VND 6300 billion, escalating by 557%. Mobilized capital from financial organizations and individuals accomplished VND 6700 billion, rising by 425%. Especially, the before-tax profit, in comparison with that of 2006, saw an 280% increase, which made up VND 226 billion, going up by 15.8% on the average capital basis.
Moreover, ABBANK always attempts to become one of the banks which meet the standards of the most secure Banks and has limited debt under 2%. Right after the State Bank released Instruction No.03, ABBANK has planned to applied proactive solutions to deal with due date loans. Therefore, although it has not been the deadline of implementation of December 31, 2007, ABBANK has restricted this ratio below the level regulated by the Bank of State (outstanding debt below 3%), the outstanding balance for stock business of ABBANK is currently 2.46%/total outstanding account.
The year 2007 is also marked as a year of rapid development of ABBANK. As of the end of December 2007, branch network and agencies of ABBANK 5 folds increased in comparison with that of 2006 with 54 branches and agencies all over the country; and 1,200 employees, an 288% year-on-year rise.
One of the outstanding characteristics of ABBANK in the previous year was product development. ABBANK has launched series of products and services in order to meet the demand of all customers, including enterprises, organizations and individual in a flexible, secure and effective way.
ABBANK has not only achieved a striking growth rate but also affirmed its prestige and operating performance by taking part in huge projects consisting of financing Tranh River hydropower project No.2 with the total investment of VND 1,450 billion. In this project, ABBANK is the only joint stock commercial bank along with other 4 state-owned commercial banks. ABBANK has guaranteed for the issue of over 3,000 stocks of EVN and VND 720 billion of bonds for EVNTelecom. In keeping with An Binh Securities Company (ABS), ABBANK has provided consulting services for Power Plants in terms of equitization. And also, the bank has financed and co-financed 6 big power projects and dozens of small and medium-sized ones with the entire outstanding account of about VND 1,500 billion, guaranteed for power projects with more than VND 2,500 billion, and supplied accounting service within or out of the nation for a number of power projects, etc.
In particular, ABBANK accompanied by ABS and CitiBank has provided consulting service and has successfully endorsed for the issue of VND 1,500 billion of stocks for Vietnam Coal and Mineral Corporation (Vinacomin).
With this development, ABBANK is proving its competence and position of a bank that supplies products and services sufficiently and effectively in such areas as investment, banking, securities and fund management.
Along with the vigorous growth rate, ABBANK believes that 2008 will be the year for selecting the leading banks and credit organizations in the world to be its strategic partners.