ABBANK reported pre-tax profit of 558 billion VND

DNVN - At the end of the second quarter of 2024, An Binh Commercial Joint Stock Bank (ABBANK) recorded VND 558 billion in pre-tax profit, reaching 56% of the yearly plan.

According to the recently announced financial report, as of June 30, 2024, ABBANK recorded a total balance sheet mobilization of VND 135,086 billion, total outstanding loans of VND 131,784 billion, completing 94% of the assigned target in 2024; pre-tax profit reached VND 558 billion, completing 56% of the annual plan.

ABBANK has set aside VND 640 billion in credit risk provisions, the bad debt coverage ratio increased by more than 10.36% over the same period. The bad debt ratio at the end of the second quarter was maintained below 3%. In addition, ABBANK continues to demonstrate that it is a bank with a good capital adequacy ratio by maintaining the CAR ratio at 12.1%, an increase of 1% compared to the end of 2023 and higher than the minimum requirement (>= 8%) of the State Bank of Vietnam (SBV).

The number of customers using digital banking and the number of online transactions on digital banking continued to grow well after the first 6 months of 2024, increasing by 4.77% and 98.18% respectively over the same period in 2023.

The above results show a positive change in the second quarter business results in the context of a still difficult market, while also demonstrating a good shift and growth on the digital channel of the individual customer group (KHCN) at ABBANK.

In 2024, ABBANK will continue to focus resources on implementing the transformation roadmap, with the advice and support of McKinsey - a global strategic management consulting firm. ABBANK aims to support customers based on an understanding of their needs and specific industries, choosing an in-depth approach instead of just aiming to expand the scale of access to businesses; enhancing customer experience improvement on digital channels.

Phan Minh

Source: https://doanhnghiepvn.vn/kinh-te/tai-chinh-ngan-hang/abbank-bao-lai-truoc-thue-558-ty-dong/20240801071013792