Asia Commercial Bank (ACB) has officially addressed certain points raised in the inspection report by regulatory authorities, reaffirming its commitment to transparency and the protection of shareholders, investors, and customers’ interests.
Previously, the inspection report revealed that ACB utilized funds raised from two bond issuances totaling VND 3.7 trillion for both medium- to long-term and short-term lending. However, the stated purpose of the bond issuance in the bank’s plan was to “meet medium and long-term credit needs.”
Specifically, on December 20 and 21, 2018, ACB disbursed over VND 2.6 trillion, with nearly VND 2.4 trillion allocated for short-term loans—contrary to the approved issuance plan.
Additionally, the Government Inspectorate concluded that several banks, including ACB, “failed to fulfill their capital management responsibilities from bond issuances as required.”
ACB’s Official Announcement
The audit results indicated that banks were unable to accurately track the use of funds from individual bond issuances for specific loans or customers. This was because the proceeds from bond issuances were not separately monitored but were pooled into the bank’s general operating capital, which was then disbursed to borrowers.
In response, ACB clarified that the two bond issuances on December 19, 2018, and December 6, 2019, were intended for medium and long-term lending, as stated in the issuance plan. However, during the inspection, some reporting data at specific times were found to be inconsistent, including short-term loans.
As a result, regulatory authorities required ACB to review and rectify the related issues. The bank confirmed that it has completed the necessary adjustments and submitted the corrective report on September 24, 2025, as requested by the inspection agency.
ACB emphasized its adherence to governance standards, financial transparency, and sustainable operations to best serve its customers, shareholders, and stakeholders.
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