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Year 2013

Development process

Year 2014

- In August 2014, ACB upgraded the old core banking platform, which had been in use for 14 years, to a new version called the DNA. ACB completed the first phase of its corporate identity transformation, introducing new branding and renovating the facades of branches, sub-branches, and ATMs. A soft launch was conducted on 05 January 2015. - ACB developed a risk management framework to fully comply with new regulations regarding prudential ratios. ACB’s branches grew in size and performance improved.

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Year 2013

Although the business result was not up to expectation, ACB achieved a positive growth rate in terms of deposit taking and VND lending. Bad debt was kept under control at 3% thanks to the application of drastic measures in collecting debt, handling credit risks and selling debts to Vietnam Asset Management Company (VAMC). CIR was cut down to 66%, decreasing 7% compared with that in 2012. Besides, ACB managed to make better arrangement of its personnel by cutting headcounts, replacement and new appointment of managers of various levels on a regular basis. Branch network was re-arranged to comply with new regulation of the SBV. ACB also reviewed its business performance in 3 years from 2011 to 2013 and revised its growth strategy for the period 2014-2018.

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Year 2012

The August incident had a great impact on various activities of the bank. This was especially true of gold deposit taking and gold trading activities. The bank did take quick actions in response to the bank run taking place in the last week of August; and was able to recover all the VND deposits within two months. To comply with the policy of the central bank, the bank addressed the legacy issues related to the gold trading business; and in effect its balance sheet was strengthened. The bank also took drastic measures in cutting costs for the second half; revised the risk management framework in terms of policy and process; and opened 16 branches and sub-branches.

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Year 2011

the Strategic Directions for the period 2011 – 2015 and Vision to 2020 was issued. One focus is the transformation of the bank’s corporate governance practice in the direction of compliance with Vietnamese rules and regulations and application of international best practices. At year-end, ACB established an enterprise module data center in HCMC. During the year, ACB inaugurated 45 additional branches and sub-branches.

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Period of 2006 - 2010

ACB stocks were listed on Hanoi Securities Trading Center in October 2006. In 2007, ACB continued its strategies to diversify operations by setting up ACB Leasing Company (ACBL). ACB also strengthened its cooperation with various partners such as Open Solutions (OSI), Microsoft and Standard Chartered Bank; and in 2008, ACB entered cooperation with American Express and JCB. In 2009, ACB completed the basic restructuring of human resources. In 2010, ACB built a standard data backup center in Dong Nai province. During this period, ACB’s branch network expanded rapidly, increasing to 223 offices. At the same time, ACB was awarded with two Labor Medals by the Government and was voted by various prestigious financial magazines and organizations as best bank in Vietnam

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Period of 2001 - 2005

In 2003, ACB applied a quality management system in accordance with ISO 9001:2000 and registered for recognition with respect to (i) taking deposits, (ii) short and long-term lending, (iii) trade services, and (iv) providing human resources at the Headquarters. In 2004, ACB Asset Management Company (ACBA) was established. In 2005, Standard Chartered Bank (SCB) signed an agreement with ACB to provide comprehensive technical assistance, and became ACB's shareholder. ACB carried out the second phase of its IT modernization program, including (i) server upgrading, (ii) replacement of current bankcard transaction processing software with a new one compatible with the core banking platform, and (iii) ATM installation.

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Period of 1996 - 2000

ACB became the first Vietnamese joint-stock commercial bank to issue the international credit cards of MasterCard and Visa thanks to the sponsor of IFC (a subsidiary of World Bank). In 1997, ACB began working towards modern banking practices through a two-year training program on banking operations conducted by foreign bankers and banking specialists. From this comprehensive program, ACB learned to apply principles of managing a modern bank and the best practices in risk management, particularly in retail banking. In 1999, ACB launched its IT modernization program; and at the end of 2001, the core banking platform named The Complete Banking Solution (TCBS) was officially put into operation, which enabled real time transactions, connected all branches together and allowed them to share a centralized database. In 2000, ACB re-engineered its organizational structure in Headquarters which was trended towards business activities and support activities. When Vietnam’s stock market opened in June 2000, ACB established ACB Securities Company (ACBS), setting out the strategies to diversify its operations

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Period of 1993 - 1995

ACB was in the embryonic stage of development. The founders of ACB, possessing financial strength, business knowledge, entrepreneurial experience and sharing a common business principle for “managing the development of the enterprise in a safe and effective way”, cemented unity in the organization. During this period, and being pushed by its competitive position, ACB aimed itself at individual and business customers in the private sector, offering cautious views on granting credit whilst providing new products and services that were unavailable in the market at that time.

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