Asia Commercial Bank
Vietnam’s largest private-sector bank by assets has become a genuine leader in its field since its formation in 1993. Asia Commercial Bank’s (ACB) operations span the gamut of banking, from mortgage and consumer lending to corporate and investment banking. It boasts one of the best retail operations in the country, one that includes an impressive online banking service and a solid private banking operation aimed at the mass-affluent market.
Everything is seamless and impressive: a local bank offering first-class service. Its finances are just as robust. ACB reported a 27% rise in net profit to D1.67 trillion ($73.4 million) in 2016, with pre-tax earnings jumping 89% on an annualized basis in the final quarter.
And its 2016 data looks good across the board: assets up 16% from the previous year and outstanding loans up 21%, driven by Vietnam’s seemingly insatiable demand for consumer goods. Of the country’s top-tier lenders, it boasts the highest capital adequacy ratio, of 13.1%, and the lowest non-performing loan ratio, which dipped below 1% for the first time at the end of 2016.
But the bank is also an all-rounder: its corporate and social responsibility division is just as impressive. In 2016, it spent more than D8 billion funding community activities, with a focus on education and caring for disadvantaged people. An impressive bank with a good heart.