GENERAL INFORMATION
VISION, MISSION
CORE VALUES
Vision
To become one of the leading joint stock commercial banks in Vietnam, focusing on retail banking.
Mission
To provide Financial Solutions which are Effective, Fast and satisfactory to customers' demand.
Core Values
- Result Orientation
- Accountability
- Value – Added Creativity
- High touch
- Servant mindset customer service
OVERVIEW
Business name: AN BINH COMMERCIAL JOINT STOCK BANK
Abbreviation: ABBANK
Business registration: No.: 0301412222, amended for twenty-five time on the 22nd July 2019 by Department of Planning and Investment in Ho Chi Minh City
Charter capital
5,713,113,550,000 VND
Address: 1st, 2nd, 3rd Floor, Geleximco Building, No. 36 Hoang Cau Street, O Cho Dua Ward, Dong Da District, Hanoi
Telephone: (84-24) 37 612 888
Website: www.abbank.vn
Stock code: ABB
Key milestones
1993
An Binh Commercial Joint Stock Bank (ABBANK) was established under License No. 535/GP-UB issued by the People’s Committee of Ho Chi Minh City dated 13 May 1993.
2004
Established as a rural bank, ABBANK made great strides to be upgraded into an urban bank.
ABBANK increased its charter capital from VND 5 billion in 2002 to VND 70.04 billion in 2004.
2005
Participation of Strategic Shareholder Vietnam Electricity (EVN), Major Shareholders Hanoi General Export Import Corporation (now Geleximco Group - Joint Stock Company).
ABBANK increased its charter capital to VND 165 billion.
2006
ABBANK increased its charter capital to VND 1,131 billion.
2007
ABBANK increased its charter capital to VND 2,300 billion.
Total assets exceeded USD 1 billion (over VND 16,000 billion under the 2007 exchange rate).
2008
The Core Banking software was successfully implemented and put into operation for entire system.
Malayan Banking Berhad (Maybank) was officially become ABBANK’s Foreign Strategic Shareholder with shareholding of 15%.
ABBANK increased its charter capital to VND 2,705 billion.
2009
ABBANK’s charter capital was increased to VND 2,850 billion in July 2009 and achieved VND 3,482 billion at the end of 2009.
Maybank’s shareholding was increased to 20% from 15% at the end of 2009.
2010
ABBANK successfully issued the convertible bonds with par value of VND 600 billion to International Finance Corporation (IFC) and Maybank. Maybank continued to maintain 20% of shareholding at ABBANK.
ABBANK increased its charter capital to VND 3,831 billion.
This was the first year to launch the “Tet An Binh” Festival which becomes an outstanding annual activity for charity of ABBANK.
2011
ABBANK increased its charter capital to VND 4,200 billion.
2012
ABBANK network covered over 140 transaction points at 29 provinces/cities nationwide.
2013
On the 26th April 2013, ABBANK increased its charter capital to VND 4,800 billion. IFC officially became ABBANK’s major shareholder, holding 10% of charter capital. Maybank maintained 20% of shareholding and continued to hold the role of ABBANK’s strategic shareholder.
On the 28th May 2013, 20th Anniversary Ceremony of ABBANK (13/05/1993 – 13/05/2013) was held in Hanoi.
2014
Vision, Missions, Objectives and Strategic Initiatives in the period of 2014 - 2018 were announced by ABBANK.
In December 2014, ABBANK was one of four first Banks of Vietnam to launch the Cross Border Fund Transfer (CBFT) Service.
2015
On the 15th October 2015, ABBANK was ranked by Moody’s among the highest ratings of Vietnam Commercial Joint Stock Bank Network for the first time, against 03 critical indicators: Baseline Credit Assessment (B3), Local and Foreign Currency Deposit Ratings (B2) and Issuer Credit Ratings (B2). ABBANK prospects were evaluated stable.
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2016
ABBANK increased its charter capital to VND 5,319 billion.
In May 2016, ABBANK honorably won the Fastest Growing Retail Bank Vietnam 2016 rated by Global Banking & Finance Review.
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2017
The second consecutive year ABBANK received the prize Fastest Growing Retail Bank Vietnam 2017 rated by Global Banking & Finance Review. Rated prospects were upgraded by Moody’s and ABBANK was continued to be named in TOP 5 Private Commercial Joint Stock Banks who were ranked highest credit ratings in Vietnam.
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2018
ABBANK celebrated its 25th Anniversary (13/05/1993 – 13/05/2018).
The Project on “Improvement of ABBANK organization and operation performance” was successfully deployed.
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2019
ABBANK increased its charter capital to VND 5,713 billion.
On the 28th May 2019, ABBANK was one of the 7 banks who leads successfully convert a Domestic Magnetic Card into a Domestic Smart Card according to VCCS standard of the State Bank of Vietnam.
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2020
The 11th Tet An Binh Charity Program with topic “Liter of Light 2020” was successfully held.
ABBANK was honored to be recognized as the Best Companies to Work for 2020 rated by HR Asia.
Read more2020 major events
In 2020, the shares of ABBANK officially concentratedly traded on UPCoM in accordance with the requirements of the Prime Minister and the State Bank of Vietnam. In addition, ABBANK officially launched the ICAAP project, directing to comply with the requirement of Circular 13/2018/TT-NHNN of the State Bank of Vietnam.
In January 2020, the “Tet An Binh Charity Program - Liter of Light 2020” was held by ABBANK in combination with the Liter of Light Vietnam Project. Solar energy lighting system worth nearly VND 400 million was offered to 5 poor hamlets who lack of electricity in Dak O commune, Bu Gia Map District, Binh Phuoc Province.
For 5 consecutive years, ABBANK continued holding the role as Great Leaf to accompany with the “Pair of Loving Leaves” program launched by VTVDigital - VTV.
On the 24th February 2020, Data Governance System was officially completed to help ABBANK to actively and flexibly govern, exploit and secure data; satisfy the requirements and conventions of the State Management Authorities, Basel II and the world’s modern governance standards.
On the 6th March 2020, the Internal Capital Adequacy Assessment Process “ICAAP”
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On the 8th May 2020, ABBANK Visa Travel international credit card product was introduced with message “Travel everywhere, refund beyond expectation”.
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On the 13th May 2020, 27th Anniversary Ceremony of ABBANK (13th May 1993 – 13th May 2013) was held by ABBANK.
On the 14th May 2020, ABBANK was awarded with ISO/IEC 27001: 2013 Standard Information Safety Management System
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In May 2020, ABBANK's New Head Office in Hanoi was inaugurated with modern, dynamic and customer-friendly design, characterized by open working environment, abundant green trees and multi-functional areas for staffs and employees.
On the 13th July 2020, ABBANK was honored to be recognized as the Best Companies to Work for 2020 - rated by HR Asia.
On the 28th July 2020, the Board of Directors promulgated the Resolution on the approved 5 Strategic Objectives for the 2021 - 2025 period.
On the 28th August 2020, the renovated mobile banking application “AB Ditizen - Bank for Digital Citizens” was launched with more young, modern and customer-friendly interface.
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In September 2020, ABBANK’s new website version was successfully updated at www.abbank.vn which was characterized by user-friendliness and oriented as a prospective retail channel.
On the 5th October 2020, ABBANK Visa Cashback card was introduced with competitive refund policy up to 5% of trading sales. It was applied for various online shopping payment regardless of onshore or offshore section such as: culinary, fashion, technology, education, health care, insurance premium payment, etc.
On the 20th November 2020, the functional entertainment area was handed over by ABBANK to The Pediatric Orthopedic Surgery Department and Department of Craniofacial and Plastic Surgery under the Vietnam’s National Hospital of Children, Hanoi.
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In 2020 ABBANK continued to apply of the new brand name recognition system (CI) at space of transaction points, offering better experiences to the customers. As of 31 December 2020, 72/165 transaction points were upgraded under the new CI, facilitating ABBANK’s customer attraction and memory.
Business Fields and
market area
Commercial bank-based operations are initiated by ABBANK in accordance with the regulations of the laws and SBV, including:
Receiving call deposits, term deposits, saving deposits and others;
Loan-based facilities; loan, discount, rediscount of transferable instruments and other valuable papers; Bank guarantee; credit card issuance; domestic factoring;
Opening current account for customers;
Offering the domestic payment services: Providing payment facilities; performing check payment services, payment orders, collections, encashment order, collection orders, letters of credit, bank cards, collection and payment services;
Opening accounts at SBV and other credit institutions and foreign bank branches;
Organizing internal payment, participating in the national inter-banking payment system;
Cash management, banking and financial consultancy services; services of management, asset preservation, safe boxes leasing;
Corporate finance consultancy; M&A, merging and investment consultancy services;
Participating in bidding, buying and selling Treasury Bills, transferable instruments, Government bonds, SBV bills and other valuable instruments in the monetary market;
Buying and selling Government bonds and corporate bonds;
Currency brokerage services;
Issuance of certificates of deposit, promissory notes, bills and bonds to mobilize capital in accordance with the Law on Credit Institutions, Law on Securities, Government regulations and SBV guidelines;
Loans from SBV in the form of refinancing as prescribed in the SBV’s regulations and guidelines;
Borrowing, lending, deposits from credit institutions, foreign bank branches, domestic and foreign financial institutions in accordance with the laws and SBV guidelines;
Capital contribution and share purchase in accordance with the laws and SBV guidelines;
Mandate, trustee, acting as an agent in the field of banking operations, insurance business, asset management in accordance with the laws and SBV’s guidelines;
Trading and providing foreign exchange services in the domestic market and the international market within the scope specified by SBV;
Securities depository;
Electronic wallet;
Investing in Government future bond contracts;
Debt purchase.
Regarding business location, at the end of 2020, ABBANK network system is extended up to 165 transaction points (35 branches and 130 transaction offices) in 34 provinces and cities, nationwide.
Chart of
165
TRANSACTION POINTS
Allocated
35
BRANCHES
by geographic area
ORGANIZATIONAL structure
Governance model
According to the Charter of An Binh Commercial Joint Stock Bank (ABBANK). ABBANK is characterized by management organization structure under Joint Stock Company Model, concretely:
General Meeting of Shareholders
- The General Meeting of Shareholders comprising of all shareholders who are entitled to vote is assigned with the highest decision-making of ABBANK. The General Meeting of Shareholders has important rights and obligations such as: Approve the Bank’s development orientation; Approve the Bank’s Charter; Elect, remove and dismiss members of BOD and Supervisory Board; Ratify the annual financial statements and profit distribution plan upon completion of tax obligations and other financial obligations; Decide investment and sales of assets with value of 20% or more against the charter capital; Decide separation, division, merger, incorporation, legal form transformation, dissolution or bankruptcy, etc.
- Approve the decisions under its authority by voting at the meeting or written consultation form in accordance with the regulations of the laws and the Bank’s Charter.
- The Decision of the General Meeting of Shareholders approved at the meeting as voted by shareholders representing for over 51% of total voting shares of participants, unless 65% is required when decisions are approved such as: Change in charter capital; amendment to the Charter; Investment and sales of assets worth 20% of chartered capital or more; Bank reorganization and termination. The decisions of the General Meeting of Shareholders are approved by shareholder consultation by written circulation and ratified when consent is obtained from shareholders representing at least 71% of total voting shares.
Board of Directors (BOD)
Roles of BOD: BOD is the governance body, having sole rights to act on behalf of ABBANK to decide and fulfill the Bank’s rights and obligations, unless issues under the authority of the General Meeting of Shareholders.
Composition of the BOD: ABBANK BOD in term of 2018 - 2022 was elected on the 25th April 2018 by the General Meeting of Shareholders and additionally elected on the 12th June 2020. Currently, BOD comprises of 07 members. All BOD members are non-executive, including 02 independent members.
Non-executive member of BOD: (hereinafter referred to as non-executive member) refers to a BOD member not Director (General Director), Deputy Director (Deputy General Director), Chief Accountant and other executive officers under the Charter (according to Article 2 of the Decree No. 71/2017/NĐ-CP of the Government dated 6 June 2017 on corporate governance of public companies).
Board of Directors' Activities
Due to the complicated development of Covid-19 pandemics with foreign BOD members of 3/7 members, 02 onsite meeting sessions were held by ABBANK BOD. According to the issued Regulations on approving BOD decisions, the BOD exchanged viewpoints and voted via email to approve a series of internal policies and regulations.
Board of Directors' ASSESSMENT
Assessment and self-assessment are complied with the Regulation on Organization Structure and Operation of ABBANK BOD and legal regulations.
Sub-Committees under BOD
is established to advise and assist the BOD in developing, monitoring and supervising the fulfillment of ABBANK’s development strategy.
is established to help BOD to exercise its rights and obligations in deciding the risk management policies and monitoring fulfillment of the Bank’s risk controls (except for issues under the authority of the General Meeting of Shareholders).
is established to help BOD to exercise its rights and obligations in deciding the Bank’s governance policies and human resources structure (except for issues under the authority of the General Meeting of Shareholders).
is established with main functions, i.e., advise and decide the fulfillment of credit risk provision policy in accordance with the regulations of the Laws and ABBANK.
is established with main functions, i.e., advise and assist BOD in fulfilling debt settlement.
Subsidiaries, Associates
ABBANK ASSET MANAGEMENT ONE MEMBER COMPANY LIMITED (ABBA)
Address: 2nd Floor, Geleximco Building, No. 36 Hoang Cau Street, O Cho Dua Ward, Dong Da District, Hanoi
Relationship with ABBANK: Subsidiary
Actual contributed charter capital (VND million):
260,000
Ownership percent of ABBANK:100%
Read moreABBA SECURITY ONE MEMBER COMPANY LIMITED (ABBAS)
Address: 2nd Floor, Geleximco Building, No. 36 Hoang Cau Street, O Cho Dua Ward, Dong Da District, Hanoi
Relationship with ABBANK: ABBANK’s subsidiaries are indirectly invested via ABBA
Actual contributed charter capital (VND million):
2,000
Ownership percent of ABBANK’s: 100%
Read moreBusiness
Direction
Stable and sustainable growth objective, focusing on retail banking including individual customers and SMEs as ABBANK's long-term development orientation.
In order to successfully fulfill this objective, ABBANK focuses on investing into human resources, technology, customer services, development of effective risk controls and high awareness of renovating and improving both quality, services, modern infrastructure, etc. Any operations initiated by ABBANK aim to provide the best products and services to the customers’ highest satisfaction, ensuring rights and benefits of the shareholders, customers, society and employees of ABBANK.
In 2020, ABBANK continued to improve the business performance through 3 main objectives:
- Specialize and improve the sales capacity and performance of Business Units (BUs).
- Apply the comprehensive business administration, risk management and quality management.
- Exploit and optimize any resources, especially qualified resources from the Bank.
Nearly 25 strategic projects have been launched in the most recent years, covering the fields of business, products and services, technology, operation, risk management, business administration, etc., to successfully grow and transform ABBANK to reach professional, modern and sustainable development with practically good performance.
In 2020, the strategic projects were continued to be comprehensively perfected, newly initiated and connected with technology application projects such as LOS, BI/MIS, ALM, RWA, Data Governance, ICAAP, etc. The Projects put into operation offered positive efficiencies in ABBANK business and help ABBANK to comply with the Basel II requirements of the Government and SBV, the international practices and standards on advanced governance.
Particularly, ABBANK brand was remained to be positioned by The bank that furnishes all – in services and products for families, focusing on customer’s service experience by adjusting the new CIs with high applicability, modern and user-friendly features; technology application into products and services aimed to save time and provide added value to the customers.
Concurrently, the investment and tremendous enthusiasm were also reserved for the charity activities on education, human resources. Development of new rural facilities, covering the Northern-Central-Southern provinces, also facilitated the ABBANK brand identifiers and prestige as a modern, friendly and high CSR bank.
RISK MANAGEMENT
Tremendous focus on risk management solutions in the technology era 4.0
In 2020, ABBANK’s risk management policies were continued to be perfected. Accordingly, 3 hedging routes’ performance was improved and the Bank’s material risks were well controlled in any material aspects in accordance with the risk appetite promulgated by BOD. Some noteworthy achievements on risk management were obtained by ABBANK in the last year:
CREDIT RISK MANAGEMENT
The 2020 Risk Appetite, Credit Development Orientation and Credit Risk Limit were also promulgated to orient ABBANK’s 2020 business activities.
OPERATIONAL RISK MANAGEMENT
In 2020, ABBANK’s Operational Risk Management was recorded with important improvements in developing risk management tools, perfecting the policy system, enhancing control efficiency and minimizing risks. The examples included development and promulgation of Operational Risk Management Policies, review and development of operating risk appetite and limit in accordance with SBV’s regulations.
Market risk management
In the market risk management operations, the market risk management system was perfected in accordance with the Circular No. 13/2018/TT-NHNN and the Circular No. 41/2016/TT-NHNN through the business ledger and banking ledger separation. Moreover, the sub-ledgers of the banking ledger were also separated to better serve the management.
Basel deployment
Following the 2019 RWA project success, the ICAAP Project was continued to be booted at the end of Q1/2020. This was the second project within the Master Basel Project framework approved by BOD.
The BOD judged that the launch of the ICAAP Project does not only aim to comply with SBV’s relevant regulations but also offer the practical benefits to ABBANK’s business, concretely:
- Comply with requirements on internal adequate capital ratio assessment specified in Chapter V of the Circular No. 13/2018/TT-NHNN;
- Conduct the risk management capacity building through identification, assessment, measurement and capitalization for all material risks at ABBANK, improve the Risk Appetite;
- Associated between the risk management with the Bank’s business plan and capital plan, ensuring capital adequacy ratio and business performance based on risk assessment in all general business scenario and adverse scenario;
- Contribute to improving ABBANK prestige and position in the eyes of investors, independent rating agencies, SBV supervisor by enforcing the modern standards and practices on risk management;
- Facilitate to clarify the performance by measuring risk/benefit for each business division. Hence, improve the Bank’s profitability through recommendations and suggestions to the BOM and BOD before deciding on capital allocation, product development and structure, banking product and service pricing were made.
In order to concertize the above objectives, ICAAP project was launched into 2 phases as follows:
Phase
Develop the entire methodology framework on ICAAP deployment, including regulations on internal capital adequacy ratio assessment, regulations on the stress test, regulations on capital management and relevant reports and tools.
Phase
Deploy and apply the methodologies to be designed in the Bank’s daily operations.
At the end of 2020, ABBANK perfected the methodology framework, tools as well as seminars and internal training courses, including ICAAP related high-level seminars for participants as members BOD, BOM.
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