Joint Stock Commercial Bank for An Binh (ABBANK – ABB) has just announced its business results for the first quarter of 2024.
Specifically, by March 31, 2024, ABBANK recorded a total mobilized capital of VND 127,382 billion, a total outstanding loan balance of VND 125,108 billion, respectively up 8.29% and 10.06% compared to the same period in 2023.
In particular, the number of customers using digital banking increased by 37.21% and the number of corresponding transactions also increased by 99.58% (reaching over 12.6 million transactions) compared to the same period in 2023. The above results reflect a positive trend in the shift to digital channels by retail customers at this bank after efforts to invest in technology and develop digital banking towards personalization and increase convenience for users.
In the first quarter, ABBANK set aside VND 177 billion for the credit risk provision fund, equivalent to an increase of 51.51% compared to the same period in 2023. After setting up provisions, pre-tax profit in the first quarter of 2024 reached VND 178 billion.
In addition, ABBANK continues to demonstrate a solid capital framework with a good capital buffer by maintaining the CAR ratio at 11.49%, higher than the minimum requirement (>= 8%) of the State Bank, ensuring the ability to pay debts, resolve risks. credit and operation. Asset quality is also guaranteed according to regulations with the bad debt ratio maintained below 3%.
In the past quarter, ABBANK also actively implemented many programs to support SME corporate customers, helping key customers of the Bank access capital with preferential interest rates to boost production and business activities. In the retail segment, ABBANK also strongly implemented preferential lending programs for individual businesses in parallel with consumer loans to meet small and medium business needs as well as shopping needs for life.
With the strategic orientation of transformation from 2024, ABBANK’s leadership said that the bank will focus on improving customer experience on both digital and physical channels, choosing the approach and fostering customer relationships in depth with the results of research surveys, streamlining and optimizing processes, as well as strengthening and enhancing the team’s capacity.
