ABBANK announced positive business results in the first half of 2024, with VND 558 billion in pre-tax profit, reaching 56% of the annual plan. Total mobilization and outstanding loans reached VND 135,086 billion and VND 131,784 billion, respectively, completing 94% of the annual target. The bank set aside VND 640 billion in risk provisions, the bad debt coverage ratio increased by more than 10.36% over the same period, maintaining the bad debt ratio below 3%. Capital adequacy ratio (CAR) reached 12.1%, up 1.0% compared to the end of 2023. Digital banking also recorded positive growth, with the number of customers and transactions increasing by 4.77% and 98.18% respectively over the same period last year.

At the end of the second quarter, ABBANK recorded completion of the first 6-month target of 2024.

In 2024, ABBANK will focus on digital transformation, cooperating with McKinsey to support customers more deeply, and improve the experience on digital platforms. The bank has implemented many preferential loan packages for SMEs, such as the "Industry Understanding - Superior Solutions" package for the Pharmaceutical and Medical Equipment industry, the "X2 Benefits - Steady Steps to Success" package for the construction and installation industry, and the "Connecting Needs - Expanding Solutions" package with a limit of up to VND 5,000 billion. The free program "Zero Fee Account - Transactions as Desired" and the Loyalty SME program have also been successfully implemented.

ABBANK focuses on supporting customers based on understanding their needs and specific industries.

Positive business results in a difficult market context demonstrate ABBANK's positive transformation, especially in the growth of digital channels for individual customers. The bank continues to focus on transforming and improving customer experience, while supporting SMEs through preferential financial solutions.

Source: An Binh Commercial Joint Stock Bank