ABBANK reports nearly 200% profit surge in H1, achieves 93% of annual target

ABBANK reports nearly 200% profit surge in H1, achieves 93% of annual target

An Bình Commercial Joint Stock Bank (ABBANK) posted a pre-tax profit of VNĐ1.67 trillion (US$63.7 million) in the first half of 2025, a nearly 200 per cent year-on-year increase, completing 93 per cent of its full-year target.

Through the first half of the year, ABBANK achieved 93 per cent of its full-year 2025 pre-tax profit plan. — Photo courtesy of the bank

The strong performance was driven by robust growth in core business activities. Net interest income rose 21.1 per cent, while service income surged 202.1 per cent compared to the same period last year. Operational efficiency also improved, with a cost-to-income ratio of 31.3 per cent and return on equity at 18.3 per cent.

As of June 30, 2025, ABBANK’s total assets reached VNĐ204.8 trillion ($7.8 billion), up 16 per cent from the beginning of the year. Deposits and valuable papers rose 36 per cent to VNĐ149.6 trillion, while total outstanding credit increased over 11 per cent to VNĐ122.4 trillion, driven mainly by the retail banking segment.

The bank continued to uphold healthy asset quality, setting aside VNĐ865 billion in credit risk provisions. Its non-performing loan (NPL) ratio remained tightly controlled at 1.9 per cent, well below the 3 per cent cap set by the State Bank of Vietnam.

Capital adequacy ratio stayed above 8 per cent, and the loan-to-deposit ratio stood at 62.8 per cent, ensuring stable operations. Moody’s maintained ABBANK’s outlook as “stable,” acknowledging the bank’s resilience amid market volatility.

Phạm Duy Hiếu, CEO of ABBANK, noted: “Our strong Q2 performance highlights the effectiveness of our structural reforms and internal strength. We aim to sustain growth in credit, deposits, and services in the second half, with full-year profit expected to surpass the VNĐ1.8 trillion ($68.6 million) target. We retain committed to strict credit and NPL management.”

This year, the bank is accelerating its business transformation, focusing on operational efficiency and talent development. The bank is also advancing its ESG agenda with the establishment of an ESG Sustainable Development Strategy Committee and collaboration with partners to launch impactful initiatives. 

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