Dear Shareholders,
During the past ten years (2012 – 2022), the Board of Directors has established and implemented an effective risk management system and a dynamic business apparatus, allowing the bank to accomplish the annual goals and strategic objectives.
In the first five-year period (2013 – 2017), the Board of Directors focused resources on overcoming the consequences left behind from the past by changing business models, arranging qualified personnel suitable for various work positions, strengthening the distribution channel system, and making adequate provision for outstanding bad debts.
The following five years (2018 – 2022) witnessed a breakthrough in many aspects. Business performance was increasing year over year and ROE, which represents value to shareholders, has always been among the highest in the market. In addition to basic traditional activities, ACB also explored new business segments such as bancassurance, which have brought in great revenue, and promoting digital banking activities.
In general, the total assets have grown steadily, the cost-to income ratio has significantly improved, business performance has been impressive, the quality of services continues to improve, and our credibility is viewed highly by the SBV and other rating agencies.
Looking back at the history of the bank since establishment, in each stage of its development, ACB has paid attention to the environmental, social, and governance aspects to various degrees. In the past ten years, ACB has focused on changing employees’ awareness of environmental protection, from not caring to being concerned, and then to committing to readily take action and actually fulfilling each individual’s responsibility regarding this aspiration. Starting in 2022, the environmental protection program has started to spread to other stakeholders of ACB.
The Board of Directors confirms that the ESG program, especially the E (environmental) factor, shall be an important part of ACB’s business strategy.
At the beginning of 2022, the Board of Directors appointed the new CEO & President, whose career has grown from the position of credit officer at ACB in 1996 and has made countless positive and effective contributions. The Board of Management will have to execute key programs to successfully implement the 2019–2024 strategy, ensuring that ACB has high growth, safe and effective operations as expected by shareholders, and possesses sustainable competitiveness.
