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ABBank's financial statements show that in Q1 2026 the bank recorded pre-tax profit of 1,500 billion VND, up 269% year-on-year, the highest growth among 27 banks listed on the stock exchange. The bank's explosive growth came from net interest income from other activities (mainly from debt collection), reaching 1,355 billion VND, up 688% versus the same period. This income was even larger than net interest income (978 billion, up 19%). In addition, net income from services rose strongly, to 413 billion, up 144% YoY. The bank also earned 259 billion from equity gains. Total operating income reached 3,077 billion, up 136% YoY. Operating costs rose 30% to 722 billion. Provisions for credit risk rose 151% to 855 billion. Earlier in 2025, ABBank reported pre-tax profit of 4,500 billion VND, with a large contribution from income from debt collection. Net income from other operations in 2025 was over 3,300 billion, accounting for 39% of total operating income. At the latest annual general meeting, Mr. Vu Van Tien, ABBank's chairman, described income from debt resolution as the bank's 'staple' source. Last year and early this year, the bank pushed hard on this issue, contributing to the bank's positive business results. 'Whatever amount we recover, the cash flow is recorded as profit,' he said. In 2026, ABBank targets profit up 28% to 4,500 billion VND, deposits up 53% to 247 trillion VND, while expected loan growth is only 9% to 139 trillion. Besides the 'staple' from debt resolution, according to ABBank's CEO - Mr. Le Manh Hung, the bank has many other growth drivers. The bank has prepared liquidity in advance to avoid market stress; in 2024, the bank's LDR (loans to deposits) was as high as 110%, even 120%, meaning the bank relied on interbank funds to lend. 'If we continue this way, 2025 would bring a terrible price. With interbank rates rising sharply, could ABBank survive?' he said. The bank made a bold decision to sharply cut the LDR to 75%, and by 2025-2026 this decision has proven effective. According to Hung, today the bank has mobilized over 170 trillion but loans total only 130 trillion, leaving more than 40 trillion for interbank operations. When interbank rates rise to 8–9%, this surplus capital yields very good profits. He compared: 'While lending to large corporations, can we achieve above 5%?' Regarding future profit drivers, ABBank's CEO added two concrete examples in retail: first, the credit card market share. He said: 'An Bình is proud to be a retail bank, but in 33 years there have been painful gaps, for example An Bình only has 12,000 credit cards.' With a minimum target of 100,000 cards in 2026 and an annual fee averaging 1–1.5 million VND per card, the bank will have 100 billion VND in profit. The second driver is Bancassurance. The bank's leaders note: 'If insurance is sold coercively, the State Bank will admonish.' Therefore, the bank focuses on products tied to real benefits such as long-term education savings or retirement insurance, helping the bank earn fees and mobilize long-term funds. Assessing the bank's scale, CEO Le Manh Hung sees this as a factor enabling ABBank to adapt flexibly. 'In the current challenging environment, large banks are dealing with big concerns. But for a smaller, mid-sized bank like An Bình, this is an opportunity,' he said. Read more
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