ABBank profits surges 102%

12/08/2010 15:18:00 - views: 3,138

An Binh Bank (ABBANK) made a pretax profit of 426.7 billion VND in the first 7 months of this year, posting a year-on-year rise of 102%.


By the end of July, the bank’s total assets reached 33,305 billion VND, up 74% against the same period last year. Meanwhile, its outstanding loans surged 77% to 16,172 billion VND, including corporate loans of 12,026 billion VND and individual loans of 4,146 billion VND. Capital mobilization increased 77% to 20,945 billion VND.

Now, income from credits accounts for 39% of ABBANK’s total incomes, and that from services such as international payment and guarantee is increasingly bigger, standing at some 19% of the total. By the end of July, the bank had housed over 100 branches and transaction offices.

In addition to network expansion, ABBANK is intensifying investment in upgrading systems and technologies. Its data center houses all important information technology application networks such as core banking, SWIFT, inter-bank payment and office automation. The bank also operates a standby data center. It is deploying the latest versions of information technology applications, including core-banking T24, CRM and MIS/BI.

Mr. Nguyen Hung Manh, General Director of ABBANK, said: “Regarding retail banking, Vietnamese banks still have limited services, technologies and governance. Therefore, ABBANK is shifting from extensive development to intensive development by focusing on renewing technology, and improving governance and risk management capacity. With this strategy, ABBANK is growing quickly with good financial indexes and business performances, while ensuring the network safety with sustainable development.”


Authour: Minh Long

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