In a recent development, ABBANK’s foreign strategic shareholder, Maybank, officially authorized Mr. Syed Ahmad Taufik Albar as the representative of Maybank’s 100% capital at ABBANK from June 5, 2025, onwards.
Concurrently, according to Maybank’s notification, Mr. Michael Foong Seong Yew is no longer the capital representative of Maybank at ABBANK. Consequently, Mr. Michael Foong Seong Yew is no longer a member of ABBANK’s Board of Directors as of June 5, 2025, based on the provisions of Point c, Clause 1, Article 45 of the Law on Credit Institutions 2024, and Point c, Clause 1, Article 25 of ABBANK’s Charter.
Mr. Syed Ahmad Taufik Albar, born in 1972, was nominated by Maybank and elected as a member of ABBANK’s Board of Directors at the bank’s Annual General Meeting of Shareholders held on April 18, 2025.
Mr. Syed Ahmad Taufik Albar is an expert in the field of Accounting and Finance with a specialization in Banking, boasting 27 years of experience. He has held significant positions at renowned organizations such as Shell Oil Company (Malaysia, Australia), Axiata Telecommunications Group (Malaysia, Cambodia), RHB Bank (Malaysia), and Maybank (Malaysia). Presently, Mr. Syed Ahmad Taufik Albar serves as the Director of Maybank Group’s Community Financial Services.
Mr. Syed Ahmad Taufik Albar becomes the representative of Maybank’s 100% capital contribution at ABBANK.
It is worth noting that Maybank currently holds 16.4% of ABBANK’s charter capital. Since their partnership began in 2008, ABBANK and Maybank have consistently collaborated and exchanged expertise in the fields of Retail Banking, Digital Banking, and SME Banking.
Regarding the bank’s business operations, ABBANK maintained a stable and sustainable pace in the first five months of the year, with a strong focus on digital transformation. As of the end of May 2025, ABBANK recorded nearly VND 1,500 billion in pre-tax profit, and a slight increase in credit compared to the beginning of the year. May 2025 also marked a pivotal month for digital banking as ABBANK completed the migration of existing customers to the new digital banking platform, ABBANK, which replaced the previous AB Ditizen application. The ABBANK digital banking platform for individual customers is expected to be launched and introduced to the community in June 2025.
