ABBank Posts Profit of over VND300 Bln

An Binh Commercial Joint Stock Bank (ABBank) said it made a pre-tax profit of VND307.6 billion in the first half of 2011, fulfilling 46.3 percent of its full-year target. The Hanoi-based lender’s total assets exceeded VND38,955 billion as of June 30, up 22 percent from a year earlier and equal to 81.2 percent of the full-year plan.

 

By the end of June 2011, it mobilised over VND25,940 billion of deposits, up 25.8 percent from the same period in 2009, and equal to 75.9 percent of the yearly plan in 2011.

 

ABBank’s outstanding loans totalled VND19,148 billion in the reporting period, or 79.8 percent of the annual plan. In detail, corporate lending accounted for VND14,482 billion and personal lending made up VND4,665 billion. To date, the lender has expanded its network to 125 branches and transaction offices in 29 provinces and cities in the country.

 

Ms Tran Thanh Hoa, General Director of ABBank, said: “Despite all the difficulties and high inflation threats anticipated in 2011, ABBank will focus on investing in technologies to develop retail banking services with more modern products and services; strengthen links with partners to diversify business operations while enhancing internationally standardised risk management to stay away from crisis.”