Information about Entrepreneur
Tran Hung Huy, Chairman of Asia Commercial Bank (ACB or the bank), was born in Ho Chi Minh City in 1978. In August 2012, the chairman of the board, an independent director, resigned after a serious corporate governance incident, which resulted in a few-day bank run that made its total assets drop by nearly one third and its profitability deteriorate. Tran Hung Huy, then 34 years old and a director in 2006, was elected to succeed the chairmanship and has chaired the board since then.
Chairman Huy earned his bachelor’s degree with three majors in business administration, finance and international business in 2000 and a Master in Business Administration (MBA) in 2002 from Chapman University (U.S.A.), and he earned his Doctorate of Business Administration (DBA) from Golden Gate University (U.S.A.) in 2010. He joined ACB as a market research officer in 2002 and was later appointed as Deputy Chief Executive Officer (CEO) in 2008 and functioned as Chief HR Officer. He earned his experience in investment banking when working in the mergers and acquisitions (M&A) advisory team of Rothschild Group (U.K.) from 2010 to 2011.
Other Interesting Facts about Entrepreneur
During the first few years under his chairmanship, the board and the management were successful in recovering the bank’s deposit size and improving profitability. In addition, the sources of funding have become more diverse and stable. From late 2012 through 2020, ACB has been transformed into a resilient and competitive organisation under his chairmanship. His leadership practices are characterised by the following: building vision and core values, development of strategies, restructuring the bank, going back to the basics in the banking business, focusing on building people and cultural change, leading innovation and promotion of environmental conscientiousness among employees and its customers.
It is of paramount importance that the bank's talent which are tasked with executing strategy are enabled to revive and upgrade their skillsets to be able to adapt with a fast-changing business environment.
Company Achievements & Role as Entrepreneur
Under Chairman Huy’s leadership, ACB has so far implemented many strategic plans such as branch restructuring, change of corporate identity, upgrading the core banking system, launching priority banking for affluent clients. Chairman Huy has led ACB to overcome the impact of the August 2012 incident (2012 - 2014) and resolution of legacy issues.
ACB is proud of being the few banks with the lowest non-performing loans (NPL) ratio, which was approximately 0.7%, since 2018. ACB was also one of the first banks in Vietnam to officially apply Basel II with CAR at 10.9% (2019), which was higher than the minimum requirement of 8%. In 2020, its profit before tax reached VND 9,596 billion, showing an increase of 28% compared to 2019 and achieving 126% of the target.
Under Chairman Huy’s guidance, the bank continued sustainably growing its balance sheet in 2020. Customer deposits and outstanding loans increased by over 15% and 16% respectively, which was higher than the industry averages. Its liquidity was strong, NPL was maintained at a low level, and profitability remained high. ACB maintained its fifth position in the market in terms of deposits and lending. The year also witnessed ACB switching its listing to Ho Chi Minh Stock Exchange (HOSE) from Hanoi Stock Exchange (HNX) and entering into a 15-year exclusive bancassurance partnership in Vietnam with Sun Life Vietnam Insurance Company Limited, a subsidiary of Sun Life Financial Inc.
ACB has continuously expanded in scale and quality, and ACB currently has 11,200 employees operating in 371 outlets in 47 provinces and cities nationwide, serving 2.8 million active customers. These achievements have been widely recognised by the finance community and major rating organisations such as Moody's (Ba3) and Fitch (B+).
Enterprise Asia awarded the Chairman with the "Outstanding Entrepreneur" Award in 2019 and the “Master Entrepreneur” Award in 2020. It could be said that he is also a strong believer and champion of the environment. He also launched the campaign "Close to Earth” (Gan lai O) to promote an environmental protection culture to employees and customers of the bank.
Vision, Mission, & Future Plans
In the near future, ACB will continue to strengthen its competitive position in the market to continue sustainable development under Chairman Huy’s guidance. ACB is focusing on investing in technology systems, human resources, and brand innovation such as: set up units and its operations and structure relating to the application of Basel II standards in 2019; continue to boost the retail banking business; continue to utilise the potential of bancassurance, bankcards and priority banking services; further define targeted customer segments and key economic sectors so as to build appropriate policies and offer great customer experiences; build an ecosystem to breakthrough customer acquisition; create an innovation culture to transition ACB closer to an advanced fintech model; focus on improving the positioning, market share, and profitability of ACB branches and sub-branches in key markets; train and develop human resources for improved productivity and continue reviewing talents for succession planning.
MASTER ENTREPRENEUR CATEGORY
Tran Hung Huy
Chairman
Information about Entrepreneur
Tran Hung Huy, Chairman of Asia Commercial Bank (ACB or the bank), was born in Ho Chi Minh City in 1978. In August 2012, the chairman of the board, an independent director, resigned after a serious corporate governance incident, which resulted in a few-day bank run that made its total assets drop by nearly one third and its profitability deteriorate. Tran Hung Huy, then 34 years old and a director in 2006, was elected to succeed the chairmanship and has chaired the board since then.
Chairman Huy earned his bachelor’s degree with three majors in business administration, finance and international business in 2000 and a Master in Business Administration (MBA) in 2002 from Chapman University (U.S.A.), and he earned his Doctorate of Business Administration (DBA) from Golden Gate University (U.S.A.) in 2010. He joined ACB as a market research officer in 2002 and was later appointed as Deputy Chief Executive Officer (CEO) in 2008 and functioned as Chief HR Officer. He earned his experience in investment banking when working in the mergers and acquisitions (M&A) advisory team of Rothschild Group (U.K.) from 2010 to 2011.
Other Interesting Facts about Entrepreneur
During the first few years under his chairmanship, the board and the management were successful in recovering the bank’s deposit size and improving profitability. In addition, the sources of funding have become more diverse and stable. From late 2012 through 2020, ACB has been transformed into a resilient and competitive organisation under his chairmanship. His leadership practices are characterised by the following: building vision and core values, development of strategies, restructuring the bank, going back to the basics in the banking business, focusing on building people and cultural change, leading innovation and promotion of environmental conscientiousness among employees and its customers.
It is of paramount importance that the bank's talent which are tasked with executing strategy are enabled to revive and upgrade their skillsets to be able to adapt with a fast-changing business environment.
Company Achievements & Role as Entrepreneur
Under Chairman Huy’s leadership, ACB has so far implemented many strategic plans such as branch restructuring, change of corporate identity, upgrading the core banking system, launching priority banking for affluent clients. Chairman Huy has led ACB to overcome the impact of the August 2012 incident (2012 - 2014) and resolution of legacy issues.
ACB is proud of being the few banks with the lowest non-performing loans (NPL) ratio, which was approximately 0.7%, since 2018. ACB was also one of the first banks in Vietnam to officially apply Basel II with CAR at 10.9% (2019), which was higher than the minimum requirement of 8%. In 2020, its profit before tax reached VND 9,596 billion, showing an increase of 28% compared to 2019 and achieving 126% of the target.
Under Chairman Huy’s guidance, the bank continued sustainably growing its balance sheet in 2020. Customer deposits and outstanding loans increased by over 15% and 16% respectively, which was higher than the industry averages. Its liquidity was strong, NPL was maintained at a low level, and profitability remained high. ACB maintained its fifth position in the market in terms of deposits and lending. The year also witnessed ACB switching its listing to Ho Chi Minh Stock Exchange (HOSE) from Hanoi Stock Exchange (HNX) and entering into a 15-year exclusive bancassurance partnership in Vietnam with Sun Life Vietnam Insurance Company Limited, a subsidiary of Sun Life Financial Inc.
ACB has continuously expanded in scale and quality, and ACB currently has 11,200 employees operating in 371 outlets in 47 provinces and cities nationwide, serving 2.8 million active customers. These achievements have been widely recognised by the finance community and major rating organisations such as Moody's (Ba3) and Fitch (B+).
Enterprise Asia awarded the Chairman with the "Outstanding Entrepreneur" Award in 2019 and the “Master Entrepreneur” Award in 2020. It could be said that he is also a strong believer and champion of the environment. He also launched the campaign "Close to Earth” (Gan lai O) to promote an environmental protection culture to employees and customers of the bank.
Vision, Mission, & Future Plans
In the near future, ACB will continue to strengthen its competitive position in the market to continue sustainable development under Chairman Huy’s guidance. ACB is focusing on investing in technology systems, human resources, and brand innovation such as: set up units and its operations and structure relating to the application of Basel II standards in 2019; continue to boost the retail banking business; continue to utilise the potential of bancassurance, bankcards and priority banking services; further define targeted customer segments and key economic sectors so as to build appropriate policies and offer great customer experiences; build an ecosystem to breakthrough customer acquisition; create an innovation culture to transition ACB closer to an advanced fintech model; focus on improving the positioning, market share, and profitability of ACB branches and sub-branches in key markets; train and develop human resources for improved productivity and continue reviewing talents for succession planning.