ACB CREDIT GROWTH DOUBLES THE INDUSTRY AVERAGE LEADING THE MARKET IN EFFICIENCY IN THE FIRST 6 MONTHS OF 2024

(HCMC) - Halfway through 2024, ACB achieved pre-tax profit of 10.5 trillion VND, credit growth of 12.8%, continuing to be in the group of banks with the lowest bad debt ratio in the context of economic fluctuations and the banking and finance industry facing many challenges.

ACB: Credit growth doubles industry average, leading the market in efficiency

In the first 6 months of 2024, the bank's consolidated pre-tax profit reached VND10.5 trillion. In the second quarter of 2024 alone, pre-tax profit reached VND5.6 trillion, up 16% year-on-year thanks to good growth in scale, improved service fees and tight cost control. ACB's ROE ratio continues to remain high at 23.4%, leading the market in terms of efficiency.

Specifically, ACB's mobilization reached 512 trillion VND, up 6% compared to the beginning of the year, exceeding the industry average growth. The CASA ratio reached 22%, among the market leaders. Meanwhile, ACB's credit reached 550 trillion VND, up 12.8% compared to the beginning of the year, double the industry average and this is the highest growth rate in nearly a decade. Credit growth shows that ACB is on the right track towards the goal of balancing credit growth in both the personal and corporate segments, the report shows that both segments grew by over 12% compared to the beginning of the year.

Good growth in scale also helped ACB's interest income increase by 11% over the same period. Income from service activities achieved high growth of 13%, mainly from core products such as card fees, international payments, etc., bringing the total accumulated income in the first two quarters of the year to 16.8 trillion, up 5.5%.

In the first 6 months of the year, ACB continued to be in the group of banks with the lowest bad debt ratio in the market. By the end of the second quarter of 2024, ACB's bad debt ratio at 1.5% mainly increased according to the general market situation and was affected by the debt group that entailed CIC. ACB strictly complied with the regulations on liquidity safety ratio as prescribed by the State Bank of Vietnam with an LDR ratio of 82.2%, the ratio of short-term capital for medium and long-term loans accounting for 17.6%.

ACBS: Outstanding business results for 2 consecutive quarters, market share increased compared to the same period

In the second quarter of 2024, ACBS continued to record good business results with pre-tax profit increasing by more than 70% over the same period. In the first 6 months of the year, ACBS's pre-tax profit nearly doubled compared to the same period, mainly due to the increase in most of ACBS's income sources.

In particular, the main contribution comes from income from margin lending activities increasing 4 times and income from brokerage activities increasing 45% over the same period. Thanks to that, ACBS's market share has grown significantly, in the first 6 months of the year, ACBS's total transaction turnover reached 2.67% of the market share, up 0.15% over the same period.
With ACBS's capital increase to VND 7,000 billion in the first quarter and positive results achieved in the first 6 months of 2024, it demonstrates ACBS's commitment to effective and sustainable business.

ACB ONE Digital Banking Ecosystem: increasing support features, enhancing user experience

In the second quarter of 2024, ACB ONE Digital Bank continuously launched many products, services and support features to enhance seamless experiences, bringing peace of mind to customers.

Specifically, ACB has actively deployed and implemented communication activities to encourage customers to use the facial authentication feature, an advanced technology that helps to maximize account security and protect online transactions according to Decision No. 2345/QD-NHNN. With this feature, customers are guaranteed genuine transactions through a biometric information comparison technology system, minimizing the risk of remote device control and account money being stolen. To date, nearly 1,000,000 ACB customers have successfully performed facial authentication on the ACB ONE application, achieving one of the highest facial authentication success rates in the industry.

Previously, the bank also proactively eliminated accounts that were not in its name through eKYC identification methods, Video Call Face Identity or IDCheck compared with CCCD data stored at the Ministry of Public Security, effectively preventing the forgery of identification documents when transacting with the bank, while updating the feature to automatically detect and warn of suspicious applications that are granted Accessibility rights, which are at risk of taking control of the phone and appropriating money in the bank account. ACB customers can rest assured when transacting with the multi-layered authentication system. Products and services are also constantly updated with technology.

Products and services are also constantly updated with technology. Most recently, dynamic QR is a payment solution suitable for many types of businesses such as medical services, schools, supermarkets, restaurants, coffee chains, travel services, and convenience store chains, helping businesses create payment codes for each order with specific amounts and transaction content, solving problems of errors when entering transaction information. This solution helps individual customers experience convenient and fast payments, while corporate customers can easily separate revenue sources for each store, separate cash flows, and help track revenue and reconcile transactions. Last July, ACB also made its mark with the award "Best Bank for Apple Pay Payment Technology Application (Visa card) - Best Retail Payments Initiative in Vietnam" from the leading prestigious financial magazine The Asian Banker for the Bank's outstanding achievements in applying Apple Pay payment technology as well as its strategy of understanding customers and perfecting the experience in the digital space.

ACB's positive results in the first 6 months of 2024 show that ACB's Board of Directors and staff have continuously made efforts as well as been creative and sensitive to finding directions suitable to the market context, meeting customer requirements in line with the Bank's motto of "customer-centric".