ABBank's second-quarter profit fell 94%, while bad debt rose to 4.5%.
- 194
- Brand
- 18:41 22/07/2023
DNHN - During the second quarter of 2023, ABBank's net income after taxes plummeted by 94% to 52.5 billion dongs, while the bad debt ratio skyrocketed to an alarming 4.55 percent.
A Binh Commercial Joint Stock Bank (ABBank, ABB/UPCoM) released its financial report for the second quarter of 2023 on July 21. As a result, ABBank's second-quarter net income decreased by 39% to nearly 765 billion dong due to a significant increase in provision expenses for credit risks, which reached 698 billion dong - four times higher than the same period in the prior year. In the first six months, the bank's primary source of revenue decreased by 13% to VND 1,567 billion, resulting in a 59% decline in profit after tax to VND 567 billion for the same period.

However, the financial statements of ABBank also reflected positive developments. To the tune of 154 billion and 81 billion dongs, respectively, the net profit from services and trading securities grew substantially, thereby contributing to the rise in revenue from supporting services. In contrast, the net profit from forex trading fell by 51% to 236 billion dongs, while the net profit from other activities fell by 71% to 62 billion dongs.
Consequently, net income decreased by 39 percent to nearly 765 billion dong. In addition, ABBank's provision expense for credit risks quadrupled to VND698 billion during this period. As a result, ABBank's profit after taxes has decreased by 94% to 52.5 billion dongs over the same period.
In six months, ABBank's primary revenue source continued to decline by 13%, falling to VND 1,560 billion. Provision for credit risks increased by 2.7 times to 815 billion Vietnamese Dong. Consequently, ABBank's six-month profit after taxes decreased by 59% to VND 541 billion during the same time frame.
According to ABBank's evaluation, the increase in provision for credit risks is a result of the implementation of Circular 11/2021/TT-NHNN, which aims to improve future risk management capabilities. This demonstrates the bank's dedication to ensuring the stability and longevity of its business.
However, ABBank must also focus on resolving its current issues, such as enhancing bad debt management, while simultaneously seeking solutions to combat declining interest and optimize business operations. Only through these efforts can the bank overcome obstacles, establish trust, and ensure future sustainable development.
P.V (t/h)
Related news
- VINASME and Jeonnam Technopark Sign MOU on technology cooperation, human resource training, and trade promotion
- Vietnamese entrepreneurs strengthen ASEAN connectivity in the digital iIntegration era
- Prime Minister: Vietnam aims to become a regional logistics hub
- Vietnam upgraded to Secondary Emerging Market by FTSE Russell
- Hanoi’s economy grows 7.92% in first nine months of 2025, FDI surges nearly threefold
- Vietnam’s strong gdp growth fails to ease labor market distress
- US tariffs on Brazil propel Vietnam’s pangasius into global spotlight
- VietLeap AI Accelerator launches: A strategic springboard for Vietnam’s AI startups
- CICON expands strategic alliances: A new step forward in Vietnam–Korea business connectivity
- What must Vietnamese enterprises do to maintain their position in the global supply chain?
- Vietnam advances cybersecurity law to boost digital sovereignty and business resilience
- Vietnam embraces digital tools to modernize public administration
- Administrative procedures for establishing the national technology exchange reduced to one application set
- Vietnam hits highest FDI inflow since 2009, fuels industrial real estate boom
- Foreign investors expected to open 150,000 new securities accounts in the next 5 years
- Government’s plan to implement Law on Digital Technology Industry approved
- Vietnam launches “Private Economy Panorama Model” to foster public-private national development
- Shark Nguyễn Hòa Bình: Hanoi will become the capital of startup innovation.
- Deputy Prime Minister Lê Thành Long meets with Osaka Governor Yoshimura Hirofumi to promote Vietnam–Japan cooperation.
- White House: When politics and technology join forces to rewrite the global AI order
Đọc thêm Brand
Hoàng Hải Anh and his young peers launch MR. Burgers – a Halal dining destination in Hanoi
At the age of 18, Hoàng Hải Anh (Haris) and his friends have introduced MR. Burgers, bringing the clean Halal food experience to visitors in Hanoi.
SK Innovation and HD Hyundai (South Korea) step up cooperation with Khánh Hòa Province (Vietnam)
The new cooperation and investment expansion plans of South Korea’s leading conglomerates reaffirm Khánh Hòa’s growing appeal in the eyes of international investors.
A trade fair organizer surprises by joining the ranks of top-earning listed companies
Financial results for Q2 and the first half of 2025 have been announced by numerous companies listed on the Vietnamese stock market.
HDBank secures USD 215 million syndicated loan from JICA, SMBC, and FinDev Canada
HDBank has signed a syndicated loan agreement worth USD 215 million with three international financial institutions: Sumitomo Mitsui Banking Corporation (SMBC), FinDev Canada, and the Japan International Cooperation Agency (JICA).
Sao Mai Group’s pangasius export segment embraces new opportunities
IDI – a member of Sao Mai Group – is building its third factory, aiming to significantly enhance export capacity to capitalize on new opportunities in the U.S. market.
The foundational mark of pioneers in renewable energy amidst an evolving legal framework
Vietnam’s renewable energy journey was marked by bold early investment at a time when the legal framework was still taking shape.
LAMORI – The Spirit of Lam Kinh in Every Breath
LAMORI is more than a luxury retreat—it is a harmonious convergence of boundless nature and sacred historical roots.
The Đại Dũng Group: A 30-Year journey of developing a sustainable value chain
In the context of globalization and sustainable development trends, Đại Dũng Group stands out with its 30-year journey in the fields of mechanical manufacturing, construction, and steel structure.
Rediscovering connection – a journey of discovery at LAMORI
LAMORI Resort & Spa is more than just a retreat; it is a destination for souls seeking reconnection, where every moment brings a meaningful experience.
Southern Vietnamese woman takes Ngoc Linh netted rice paper to all corners of the world
The Cai Be craft village has long been famous for many specialties of the Southern region of Vietnam. However, if it weren't for an unexpected event over 20 years ago, people would not know how Ngoc Linh netted rice paper has spread globally.