ACB bank honored for best performance in Vietnam

The Asia Commercial Bank (ACB) has been awarded “Best Retail Bank of the Year 2006, Vietnam” by the Asian Banker, one of the most prestigious financial and banking magazines in the world. 

The awards ceremony for the nation’s first joint stock bank Friday took place at the Shangri-la Hotel in Hong Kong.

The Banker selected ACB for the award in high appraisal of value of brand name, financial outcomes, transparency in development strategy, capacity of risk managment, initiating banking products, and proper investment in human resource training.

With the target of becoming the leading retail bank in Vietnam, ACB has continuously developed its products and services and has expanded its operations throughout Vietnam to meet the demands of its customers over the past years.

Its pre-tax profit in the first five months was VND230 billion ($14.3 million) and it expects full year profits of close to VND560 billion ($35 million).

Last year, ACB was presented with the “Bank of the Year 2005, Vietnam” by the Banker for strong growth rates in capital and benefits, as well as its successful application of the Economic Value Added (EVA) strategy and its use of advanced technologies.

(Source: Thanhniennews)