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ABBANK sees surge in digital business
An Bình Commercial Joint Stock Bank (ABBANK) recorded 37.2 per cent and 99.58 per cent increases in the number of digital customers and digital transactions in the first quarter of the year.
An ABBANK branch in HCM City. — Photo courtesy of the bank
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They reflected a strong shift to digital channels by individual customers, thanks to the bank’s efforts to invest in technology and developing digital banking towards personalisation and providing greater convenience for users, it said.
It made credit risk provisioning of VNĐ177 billion (US$6.98 million) for the quarter, an increase of 51.5 per cent year-on-year. Its pre-tax profit was worth VNĐ178 billion ($7.02 million).
As of March 31, it had deposits of VNĐ127.38 trillion and loans outstanding of VNĐ125.1 trillion, up 8.29 per cent and 10.06 per cent.
Its capital adequacy ratio was 11.49 per cent, much higher than the 8 per cent prescribed by the State Bank of Vietnam, and bad debts ratio was below 3 per cent.
ABBANK in coordination with the Ministry of Natural Resources and Environment have donated 50,000 large tree saplings to disadvantaged families living in Thượng Trạch Commune in Quảng Bình Province’s Bố Trạch District.
It follows its community fundraising campaign "Green An Bình - Green Vietnam" run between January 29 and March 31 this year.
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