The awards acknowledged ACB’s efforts in ‘Using its ESG model as a foundation to encourage stakeholders to practice ESG and replicate this model to as many individuals and organizations in Vietnam as possible.’
The accolades affirmed the bank’s commitment to sustainability and its ability to balance short-term gains with long-term sustainable development, as well as revenue growth with value creation for stakeholders.
Sustainability Imprint 2023. Source: ACB’s 2023 Annual Report
In 2023, ACB officially released its Sustainability Report for 2022, becoming the first bank in Vietnam to publish a dedicated report on sustainability and ESG. This report highlighted the bank’s ability to balance short-term gains with long-term sustainable development, as well as revenue growth with value creation for stakeholders. ACB recently announced its business results for the first half of the year, with pre-tax profits reaching VND 10.5 thousand billion and credit growth of 12.8%. The bank continues to maintain one of the lowest NPL ratios in the industry, despite economic uncertainties and challenges faced by the financial sector.
ACB representative receiving the Top 50 Sustainable Businesses award organized by Nhip Cau Dau Tu magazine.
Launch of the “Green and Social Credit Package” with a limit of VND 2,000 billion
At the beginning of 2024, ACB introduced the “Green and Social Credit Package” with a limit of VND 2,000 billion and preferential rates for businesses with production and business plans that benefit the environment and society. ACB prioritizes lending to businesses with plans that fall under the Green category (renewable energy, energy efficiency, green buildings, pollution control and prevention, clean transportation, sustainable water management and wastewater treatment, sustainable environmental, natural resource, and land management) or the Social category (women-owned and -led enterprises that demonstrate progress and promote gender equality). This credit package is built on the frameworks and criteria of green/sustainable finance, advised and guided by the International Finance Corporation (IFC), ensuring compliance with international standards while remaining consistent with ACB’s internal processes.
99 tons of plastic reduction through ACB’s “Get Closer to Zero” journey
ACB’s management and staff participated in a beach cleanup in Phu Quoc City.
In 2023, ACB officially launched a program to collect 300 tons of plastic waste for the period of 2023-2025. With a humble initial target of collecting 45 tons in 2023, the dedication and efforts of nearly 14,000 staff members across 410 units and departments led to surpassing this goal. ACB successfully collected and sorted 85 tons of mixed waste and processed 68 tons of plastic waste nationwide. Additionally, 159 waste sorting bins were installed at ACB’s branches and transaction offices. This initiative reflects the bank’s commitment and determination to take concrete steps towards sustainability. In 2024, ACB aims to go beyond encouragement and promotion, striving for practical and impactful ESG practices that directly benefit the environment and society.
The most extensive bribery case ever in Thanh Hoa: Numerous suspects prosecuted for “Giving and Receiving Bribes”
The Provincial Security Investigation Agency (PSIA) of Thanh Hoa province announced on January 31st that it has made the decision to initiate a prosecution against 23 individuals in connection with the offenses of “Accepting bribes” and “Giving bribes” as stipulated in Article 354(3) and Article 364(2) of the Criminal Code.
Accelerating disbursement of the 120 trillion VND credit package for social housing
Deputy Prime Minister Trần Hồng Hà has recently issued directives regarding the implementation of the 120,000 billion VND credit package for investors and buyers of social housing, workers’ housing, and projects for the renovation and construction of apartment buildings.
“Prosecution of government officials, land registration officers, and tax department employees in the largest bribery case ever”
The Thanh Hoa Police Investigative Agency has initiated legal proceedings against 23 individuals involved in the crimes of “Bribery” and “Receiving bribes”. This is the largest bribery case in terms of the number of suspects ever discovered and apprehended by the Thanh Hoa Police.
Mobile World achieves revenue of VND118,000 trillion: TVs, tablets, and phones all decrease by 10% – 50%, while one product grows in both quantity and revenue.
Mobile World Investment Corporation (MWG) has recently announced its 2023 business results. According to the report, the company’s consolidated revenue reached over 118 trillion Vietnamese dong, equivalent to 89% of the revenue in 2022.
