In terms of business plans, the bank aims to achieve a pre-tax profit of VND 22,000 billion in 2024, an increase of 10% compared to the previous year. The target total assets will increase by 12% to VND 805,050 billion. Customer deposits and valuable papers will increase by 11% to VND 593,779 billion. Outstanding loans to customers will increase by 14% to VND 555,866 billion. The bad debt ratio will be controlled below 2%.
ACB said that the 14% credit growth is considered appropriate given the market situation, as well as complying with the credit growth limit for 2024 as assigned by SBV under Dispatch No. 10167/NHNN-CSTT on December 31, 2023.
The Board of Directors of ACB assessed that in 2024, the domestic economy will still face many difficulties and challenges as the global recovery is not yet strong. With the government’s solutions to overcome difficulties in various markets such as real estate, corporate bonds, etc., the economy in 2024 is expected to recover.
Therefore, ACB expects the early recovery of business production of enterprises and the production and consumption needs of households.
In terms of profit distribution plan, ACB plans to distribute dividends in the form of 10% cash and 15% stock this year.
Specifically, ACB’s after-tax profit in 2023 was over VND 15,500 billion. After setting up reserves, the remaining profit in 2023 is VND 13,300 billion. The undistributed profit from the previous year is over VND 6,500 billion. Accordingly, the profit that can be used to distribute dividends in 2023 is nearly VND 19,900 billion. The bank plans to use VND 9,700 billion to distribute dividends in 2023 (15% stock, 10% cash).
The current charter capital of ACB is VND 38,840 billion. It is expected that after distributing dividends in the form of 15% stock, the bank’s charter capital will increase by more than VND 5,800 billion to VND 44,666 billion. ACB expects to complete the increase in charter capital in the third quarter of 2024.
