At the end of the third quarter of 2024, ACB achieved business results with well-maintained financial indicators, affirming its position as a leading joint stock bank in terms of operational efficiency.
As of September 30, ACB's credit reached VND555 trillion, mobilization reached VND512 trillion, growth compared to the beginning of the year recorded at 13.8% and 6.1% respectively. Notably, the credit growth rate was 1.5 times higher than the industry average and was the highest net increase in the past 10 years.
Maintain retail and corporate credit advantage
The above information shows that ACB continues to maintain its advantage in the retail segment and implements a balanced growth strategy between individuals and businesses quite well, with accumulated corporate credit growth in the past 9 months at a rate of more than 15%.
Regarding CASA (non-term deposits), ACB has promoted solutions to attract deposits by increasing customer benefits such as implementing the Smart Ally campaign - providing solutions and store management benefits for business households; upgrading high-end financial services for Priority Customers. As a result, ACB's non-term deposits reached VND 114 trillion, up 24% over the same period in 2023, continuing to be one of the retail banks with the highest CASA ratio in the market at 22.2%.
ACB's pre-tax profit in the first 9 months of the year was VND15.3 trillion, up slightly by 2% year-on-year, mainly due to growth in credit scale, service fees and effective cost management. In the 2019-2023 period, ACB is one of the banks with the highest compound growth rate in the industry (about 28%/year) and maintains high growth even in the context of many economic difficulties.
ACB's bad debt ratio in the third quarter was 1.49%, among the banks with the lowest bad debt in the market. The provisioning cost in the third quarter was lower than the average provisioning level in the first two quarters of the year.
ACB strictly complies with the liquidity safety ratio regulations as prescribed by the State Bank of Vietnam (SBV), with an LDR ratio of 82.4% and the ratio of short-term capital for medium and long-term loans accounting for 20.7%. The capital safety ratio (individually) by the end of the third quarter was at 11.3%, far exceeding the SBV's regulations. In addition, ACB has made efforts to control well and optimize Operating expenses were VND8.2 trillion, up slightly by 3.8% year-on-year. CIR remained low at 32.7%. ACB's ROE remained high at 22.2%, continuing to be among the industry leaders.
As for ACBS (ACB Securities Company), in the second quarter, it continued to record good business results with pre-tax profit increasing by more than 44% over the same period. Accumulated in the first 9 months of the year, pre-tax profit increased by 67% thanks to the growth in income from ACBS's main business activities, including interest income from margin loans increasing by 3 times, income from proprietary trading activities increasing by 44% and income from brokerage activities increasing by 14% over the same period with market share reaching 2.68%, up 0.24%.
Promoting digital banking, expanding green credit
Following the Government 's orientation on green growth 2021-2030, ACB is implementing business activities in line with the banking industry's sustainable development action program, contributing significantly to ACB's positive business results in the first 9 months of the year.
ACB ONE Digital Banking products and services have been promoted. By the end of the third quarter, transaction turnover and the number of online transactions increased sharply, up 32% and 57% respectively compared to 2023. ACB ONE is highly appreciated by customers for its convenient experience, a program to accumulate transaction points to exchange for thousands of types of gifts, rich and very suitable for the diverse needs of customers. Recently, ACB ONE has also received very positive feedback from customers when it has promptly prevented fraudulent acts with technological solutions to help warn and suspend suspicious transactions.
In the third quarter, ACB increased the Green/Social credit package limit from VND2,000 billion to VND4,000 billion with an interest rate of only 6%/year, preferential terms of up to 24 months. By the end of September, ACB had disbursed 73% of the Green/Social credit package, accounting for VND2.9 trillion. Previously, ACB announced the Sustainable Finance Framework, creating standards for activities in the green finance sector. Most recently, at the event "Unblocking capital, welcoming opportunities" connecting banks and businesses organized by the State Bank, Mr. Tu Tien Phat - General Director of ACB - said that the bank is currently spending about VND5,000 billion to finance capital for small and medium enterprises, meeting the needs of production, business and import-export. This credit package can increase to VND10,000 billion or VND20,000 billion if businesses have a need for green credit capital to meet the requirements of foreign partners.
Actively carry out social responsibility
In the third quarter of 2024, ACB has accompanied local and central agencies, departments and branches in social security activities to improve and enhance people's quality of life, such as: donated 80 billion VND to support the program to eliminate temporary and dilapidated houses nationwide launched by the Government; contributed 2.2 billion VND to join hands with the banking system to help people in some northern provinces affected by storms and floods; spent nearly 4 billion VND to sponsor educational activities and care for people in difficult circumstances through a series of community activities called "Journey I love life" in many localities across the country.
In particular, on October 19, ACB presented the Ho Chi Minh City People's Committee with 10 billion VND to sponsor social security programs in Ho Chi Minh City.
Through community support activities, ACB is contributing to creating sustainable social values under the letter "S" (Society) in the ESG (Environment - Society - Governance) sustainable development strategy as well as in its pioneering role in building a sustainable and responsible financial system. In 2023, ACB contributed VND 5,214 billion to the State budget, ranking in the Top 3 private banks and Top 8 private enterprises with the largest budget contributions of the year.
With impressive results from optimizing operational processes to minimize environmental impacts to ensure transparency in corporate governance and fully implement social responsibility according to ESG, ACB was ranked in the Top 50 typical sustainable development enterprises in Vietnam (for the 3rd consecutive time) by Nhip Cau Dau Tu Magazine in August 2024. Next, ACB excellently achieved a "double" of prestigious awards at the Asia Pacific Enterprise Awards (APEA) 2024, including the Corporate Excellence Award - Asian Excellent Enterprise (6th consecutive time) and the Inspirational Brand Award - Inspirational Brand (5th consecutive time) in early October 2024.
Source: https://nld.com.vn/acb-tang-truong-tinh-dung-gap-15-lan-binh-quan-nganh-ngan-hang-196241024192348287.htm
Comment (0)