BAC A BANK builds on its prestige
BAC A BANK builds on its prestige
BAC A BANK has been growing strongly in pursuit of sustainable development, with stellar achievements and even brighter prospects ahead.
As of June 2024, the bank had $6.43 billion in total assets and $373.3 million in charter capital, with a network of up to 175 transaction points in 42 provinces and cities nationwide.
BAC A BANK has made a strong imprint in the market as a pioneer bank in investment consultancy and credit granting for high-tech enterprises investing in rural and agricultural development, as well as social security in a bid to create values which are friendly to the environment. This also helps BAC A BANK send a message on developing a sustainable future.
In addition, BAC A BANK is also a big contributor with profound impacts on the community through charitable and social security activities, such as taking care of heroic Vietnamese mothers; building schools, bridges, roads, and toilets for poor children in remote areas; and supporting those in need of sustainable livelihoods.
“With its strategy and experience, BAC A BANK always directs its credit activities to the field of high-tech application in agriculture and rural areas with the lending rate in this field always reaching over 40 per cent, contributing to changing the value of agricultural products, bringing more benefits to farmers, promoting socioeconomic development in rural areas and restructuring the agricultural sector according to the policies of the Party, the state and the banking sector,” said a representative from the State Bank of Vietnam.
BAC A BANK was established in 1994 as the only joint stock commercial bank in central Vietnam, with an initial charter capital of VND20 billion ($833,000). With the mindset of harmonising the interests of enterprises, customers, partners, and the community, the bank has made all decisions and steps with the promotion of humanistic values.
The lender has since then stood side by side with customers through many major changes of the times, such as economic difficulties of the country in the early 1990s, the 2008 Asian financial crisis, and the 2011 global financial crisis.
Under the sound leadership of Thai Huong, one of the youngest bank general directors at that time, BAC A BANK took its first steady steps. The bank has also introduced breakthrough initiatives, fully dedicated to customers, such as proposing a flexible savings interest rate scheme to optimise the interests of depositors even in cases of having to withdraw the principal before maturity.
Meanwhile, BAC A BANK became an investment consultant of TH Group with a revolutionary project: the $1.2 billion state-of-the-art dairy cow farm and fresh milk processing plant in the central province of Nghe An.
TH Group has created a fresh milk revolution, changing the nature of the domestic dairy industry. It is the harmonious combination of Vietnamese intelligence and resources, and the world’s best technology, with the addition of management science in order to create international quality products.
From the world’s largest modern project in Nghe An and a chain of high-tech farms in the country, TH Group has reached out to the international market, with a dairy farm project in Russia, and a corn and cotton plantation project in Australia.
At present, TH Group continues to expand its activities to projects aimed at protecting health, with products completely made from nature, such as food, drinks, and especially medicinal herbs.
The pair also boast projects in sectors aimed to develop social security, health, and education, such as the TH School system and the high-tech TH Medical system, which are implemented with a methodical roadmap towards building a true happy life for Vietnamese people.
“Continuing to pursue the goal of creating a generation of sustainable businesses, BAC A BANK will prioritise investment consultancy and credit provision for high-tech projects involving agro-forestry-fishery production, clean medicinal materials, healthcare and education, and processing and manufacturing industries,” said Thai Huong, vice chairwoman of the board and general director of BAC A BANK.
“The bank will also further consolidate the comprehensive financial product and service ecosystem, optimising customers’ experiences and benefits according to the banking model of the future.”
