ACB aims to reach more than VND 15,000 billion in pre-tax profit in 2022

(Ho Chi Minh City) – This morning, April 7, 2022, at Sheraton Saigon Hotel (88 Dong Khoi Street, District 1, Ho Chi Minh City), the Annual General Meeting of Shareholders of Asia Commercial Joint Stock Bank held its annual meeting, approved the business plan in 2022 with the target of pre-tax profit of more than VND 15,000 billion.

During the AGM, looking back at ACB's activities, Mr. Tran Hung Huy - Chairman of ACB's Board of Directors said: "The year 2021 is an unpredictable year for the economic situation due to the impact of the Covid-19 outbreak. However, with the proactive implementation of anti-epidemic measures and planning to ensure business continuity, ACB has reached the finish line and more than exceeded the plan, successfully realizing its growth and safety goals. secure and maintain high business results, meeting shareholders' expectations.”

ACB's shareholders approved the issues at the meeting: Operational results in 2021 and operation plan in 2022; Report of the Supervisory Board on activities in 2021; Audited consolidated financial statements; Profit distribution in 2021, profit plan and profit distribution in 2022; Increase charter capital from 2021 dividends by ordinary shares; issuing, registering for additional depository and listing additionally issued shares; Remuneration and operating budget for the Board of Directors and Supervisory Board in 2022; and other problems.

Specifically, in 2022, ACB sets a profit before tax plan of more than VND 15,000 billion. Total assets are expected to increase by 11%, customer deposits are expected to increase by 11%, credit is expected to increase by 10% according to the current limit granted by the State Bank and the bad debt ratio will be controlled below 2%. It is expected to pay dividends in 2022 by shares at the rate of 25%. Charter capital is expected to reach 33,774 billion VND.

In particular, ACB's 2022 plan focuses on investing in a separate business and operating model to attract new customers with a simple, easy-to-use, seamless digitalization process from online to offline. This strategy comes from the reality of digital transformation with many opportunities and challenges, requiring quick adaptation to the continuous changes in the business environment as well as flexible changes and actively understanding customers. . At the same time, "optimizing the power of digitization" will also help ACB fulfill its social responsibilities, contribute to environmental protection by reducing the amount of printing paper, minimizing waste from the waste of ink cartridges or equipment. damaged….

ACB General Director - Mr. Tu Tien Phat said that ACB's business results in 1.2022 were positive when total assets reached about VND 525,000 billion, loans reached VND 374,000 trillion, deposits reached VND 386,000 billion and consolidated profit. is estimated at 4200 billion VND, bad debt is controlled under 1%.