ABBank gets approval for $232 million capital increase, launches online FX service

ABBank gets approval for $232 million capital increase, launches online FX service

ABBank has received central bank approval to raise its charter capital by more than VNĐ6.1 trillion (US$232.1 million), paving the way for an increase to over VNĐ20 trillion ($761.2 million).

ABBank gets approval from the State Bank of Vietnam to increase its charter capital by over VNĐ6.1 trillion (US$232.1 million). — Photo courtesy of the bank

An Bình Commercial Joint Stock Bank (ABBank) has received approval from the State Bank of Vietnam to raise its charter capital by more than VNĐ6.1 trillion (US$232.1 million) through dividend shares, a rights offering and an employee stock ownership plan (ESOP).

The capital increase, approved by shareholders at the bank’s 2026 annual general meeting, will lift ABBank’s charter capital from nearly VNĐ14 trillion to more than VNĐ20 trillion ($761.2 million) by the first quarter of 2027.

The bank said the additional capital will be used primarily to support lending activities and meet growing financing demand from both individual and corporate customers. The stronger capital base is also expected to create greater room for credit expansion while ensuring compliance with prudential ratios set by the SBV.

ABBank reported pre-tax profit of more than VNĐ3.5 trillion in 2025, nearly double its annual target.

The growth momentum continued in the first quarter of 2026, when pre-tax profit reached VNĐ1.5 trillion, 3.7 times higher than the same period a year earlier. The bank also reported improved asset quality, with its on-balance-sheet non-performing loan ratio falling to the lowest level in recent years.

As part of its digital banking push, ABBank has launched a new digital service that allows customers to purchase foreign currency online via the ABBank App.

The service allows customers to buy US dollar banknotes for overseas travel through a fully digital application process, with requests processed within two working hours. Customers can purchase up to $15,000 for visa-required destinations and up to $5,000 for visa-free destinations, with a minimum transaction value of $50.

ABBank said the digital platform could cut branch transaction times by about 50 per cent and forms part of its strategy to expand digital and international banking services. 

Bizhub