ABBank targets $170.8 million profits, HOSE listing in 2026

ABBank targets $170.8 million profits, HOSE listing in 2026

Shareholders of the UpCOM-listed An Bình Commercial Joint Stock Bank (ABBank) approved a number of key targets for this year at the lender’s annual general meeting on April 28, including pre-tax profits of VNĐ4.5 trillion (US$170.8 million), a capital hike to more than VNĐ20 trillion ($759.2 million), and a road map to list its shares on HOSE by Q4.

ABBank’s annual general meeting held in Hà Nội on April 28. — Photo courtesy of the bank

The profit target represents an increase of 28 per cent from last year.

Total assets are projected at VNĐ291 trillion ($11 billion).

The deposit and outstanding loan targets are VNĐ247.4 trillion and VNĐ138.9 trillion, up 153 per cent and 109 per cent from last year.

The bank also targets keeping its non-performing loan ratio below 1.5 per cent, reflecting its focus on prudent risk management.

To achieve the objectives, ABBank has a strategy centred on retail banking, which is expected to contribute around 70 per cent of total income in the coming years.

It will prioritise lending to key sectors indicated by the Government and State Bank of Vietnam, while developing integrated financial solutions based on a value chain finance approach.

It plans to increase low-cost deposits, targeting a CASA ratio of around 30 per cent, while maintaining a loan-to-deposit ratio below 70 per cent to ensure liquidity. It also aims to add five million retail customers in 2026, mainly through digital platforms.

It plans to actively explore proprietary investment opportunities to optimise capital efficiency.

In the first quarter of 2026 the bank reported pre-tax profit of VNĐ1.5 trillion, indicating strong early progress towards its full-year targets.

The AGM also approved an increase in charter capital of more than VNĐ6 trillion from the current VNĐ13.97 trillion in two phases with a 15 per cent bonus share issue for dividend (expected in Q2 2026), a 20 per cent rights issue to existing shareholders (expected in Q4 2026), and an employee stock ownership plan equivalent to 5 per cent (expected in Q1 2027).

The bank’s chairman, Vũ Văn Tiền, said the phased plan is designed to maintain capital adequacy, limit earnings dilution and safeguard shareholder interests.

The proceeds from the share issuance are expected to be deployed in 2027 to support lending activities.

Shareholders also approved the plan to list ABB shares on HOSE, with An Bình Securities JSC appointed as listing adviser. The road map includes preparation from May to August 2026, submission in September, and a targeted listing in the fourth quarter.

Tiền said the HOSE listing would enhance transparency, strengthen the bank’s reputation and improve access to medium- and long-term capital, while attracting greater interest from institutional and foreign investors.

He added that ABBank is entering a phase of stronger acceleration, seizing market opportunities while maintaining a firm commitment to sustainable growth without compromising risk discipline. The bank also aims to advance in step with its customers and the wider economy. 

Bizhub