The 5th ASEAN Economic Forum 2024 officially took place in Singapore on May 18, 2024. It is an annual event, rotating in ASEAN countries, with a large scale and significance, focusing on promoting economic cooperation and sustainable development in the region.
The 5th ASEAN Economic Forum 2024 officially took place in Singapore on May 18, 2024. It is an annual event, rotating in ASEAN countries, with scale and significance, focusing on promoting economic cooperation and sustainable development in the region.
At this year's announcement and award ceremony, BAC A BANK was honored to win the TOP 10 "OUTSTANDING ASEAN ENTERPRISES 2024" award. At the same time, Labor Hero Thai Huong - General Director of BAC A BANK was honored in the TOP 10 "EXCELLENT ASEAN MANAGERS 2024". After 30 years of construction and development, Bac A Commercial Joint Stock Bank has total assets of VND 152,243 billion (as of December 31, 2023), pre-tax profit of more than VND 1,060 billion. Regarding operational safety indicators, BAC A BANK's liquidity is maintained stably, the bad debt ratio is 0.92%, among the lowest in the industry thanks to its good risk management ability. The bank focuses on investment consulting and lending in government-encouraged, low-risk and low-volatility sectors such as high-tech agriculture.
BAC A BANK has also been maintaining a stable loan portfolio with more than half of the portfolio structure coming from essential and less volatile industry groups (processing and manufacturing industry accounts for 37%; agriculture , forestry and fishery industry accounts for 18%) - focusing on large enterprises in the industry with good credit quality and within the typical lending value chain of BAC A BANK.
The period from 2023-2024 also recognized the continuous efforts of Labor Hero Thai Huong herself in investment consulting activities and promoting the development of green economic models, knowledge-based economy, and circular economy on the basis of sustainable development.
The projects that BAC A BANK consults on all implement a very systematic sustainable development strategy with 6 pillars: Nutrition - Health, Environment, Education, People, Community and Animal Welfare. In 2023, under the leadership of Labor Hero Thai Huong, BAC A BANK consulted on investment for sustainable agricultural development projects in the Northwest, Western Nghe An, Central Highlands... to regenerate forests, preserve and exploit indigenous herbs to help people develop the economy, reduce poverty, and preserve the environment. Ms. Thai Huong's successful sustainable development models are continuing to be replicated with major projects in the Russian Federation, Australia...
The ASEAN Award 2024 announcement and award ceremony is within the framework of the ASEAN Economic Forum with the theme "Vietnam - ASEAN Business Cooperation: Opportunities and Prospects". Ms. Luong Thi Kim Xuan, Director of the Vietnam - ASEAN Entrepreneurship Development Research Institute, representing the Organizing Committee, delivered the opening speech: "In recent years, international economic integration and participation in free trade agreements (FTAs) have always been of interest and promoted by the Party and Government. This event is also an opportunity to listen to initiatives, recommendations and proposals from Vietnamese and Singaporean enterprises on economic development solutions, innovation, transformation of green economic models, digital economy, circular economy, sharing economy, knowledge economy... to strengthen friendly cooperation between the two sides".
Mr. Chu Nguyen Binh, Deputy General Director of BAC A BANK shared after the award ceremony: “Because people are one of the core values that BAC A BANK has always set and pursued in its business development goals since its inception. From the orientation of product and service development to operation and system improvement, we always take the needs and desires of individual and corporate customers in the fields of sustainable development as a guideline for our operations. The ASEAN Award 2024 aims to honor sustainable businesses - a great encouragement for BAC A BANK's efforts as well as creating motivation for the bank to continue developing its business for a prosperous society and happy community".
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