ABBank’s main source of revenue for the first quarter increased by 26% year-on-year, with net interest income reaching over VND 832 billion.
Non-interest income also grew, including service income (+55%), foreign exchange trading income (+24%), and other operating income, which quadrupled.
Additionally, operating expenses rose by only 8% to VND 551 billion, resulting in a net profit from business operations of nearly VND 756 billion, double that of the previous year.
In the first quarter, the bank set aside more than VND 340 billion for credit risk provisions and debt purchases from VAMC, a 92% increase. Despite this, ABBank still reported a pre-tax profit of nearly VND 416 billion, more than double that of the same period last year.
Compared to the full-year target of VND 1,800 billion in pre-tax profit, ABBank has achieved over 23% of its goal in just three months.
Pham Duy Hieu, CEO of ABBank, shared: “The first quarter of 2025 showed a positive improvement for ABBank compared to the previous year. The bank continues to maintain a stable and sustainable development orientation, and the pace of business results growth will be promoted in the following quarters.”
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ABBank’s Q1/2025 business results. Unit: VND billion
Source: VietstockFinance
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Total assets as of the end of Q1 increased by 4% from the beginning of the year to VND 183,753 billion. Specifically, deposits at the SBV increased by 49% (VND 3,967 billion), and deposits at other credit institutions rose by 11% (VND 48,630 billion). Customer loans and deposits remained stable at approximately VND 98,044 billion and VND 89,748 billion, respectively. The capital adequacy ratio (CAR) stood at 10.46%.
As of March 31, 2025, ABBank’s total bad debt was VND 3,729 billion, a slight increase of 1% from the beginning of the year. The bad debt ratio increased from 3.74% to 3.8%, while the bank’s bad debt ratio was 2.44%.
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ABBank’s loan quality as of March 31, 2025. Unit: VND billion
Source: VietstockFinance
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– 12:07 01/05/2025
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