Asia Commercial Bank (ACB) | APEA - Asia Pacific Enterprise Awards Asia Pacific Enterprise Awards
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CORPORATE EXCELLENCE CATEGORY

Asia Commercial Bank (ACB)

Information about the Company
Established in 1993, Asia Commercial Bank (ACB) has 30 years of development with a cultural foundation built on five core values: Integrity, Innovation, Prudence, Balance, and Efficiency. A proud history and a colorful story about its successes are included in ACB’s story.

Currently, ACB has over 13,035 employees working at 384 branches and sub-branches located throughout 49 provinces and cities nationwide. Employees have the opportunity to discover many interesting cultural features when the community and relationships stretch from South to North, from the coast to the highlands.

ACB will continue to emphasize the retail segment as its main growth driver. In 2023, ACB sees opportunities in the business segment, allowing ACB to focus on developing FDI enterprises, as well as enterprises in export processing zones and industrial parks. ACB will earn service fees while financing these businesses.

The bank’s vision is to be a leading bank in Vietnam while its mission is to continue to strengthen its competitive position in the market with a focus on sustainable growth. ACB is focused on investing in technology systems, human resources, and brand innovation to better serve its customers and exceed banking standards.

Corporate Culture & Company Activities
At ACB, the bank provides good infrastructure and facilities while utilizing every possible channel to communicate with its employees. Whether digital or non-digital, online or offline, on-site or off-site, each staff member is well-engaged with the bank’s common objectives and is able to let their voice be heard. In addition, ACB participates in recognition awards of various professional associations to better understand its employees’ viewpoints.

Through these methods, the bank has received very positive comments with many outstanding highlights. ACB has become one of the leading retail banks in Vietnam with a stable and developed business; the bank provides a transparent and equal compensation policy and outstanding benefits packages that ensure employees’ long-term dedication; it also encourages a flexible working style with continuous innovation wherein employees are provided with a series of useful tools and the conditions required to quickly achieve their goals within the organization. Through colorful “Work:Live:Learn” activities ACB can improve its competencies, achieve success in parallel with the organization’s vision, meet its responsibilities to society and the environment, and pursue life-long learning. Thus employees are empowered to master their own career development.

As part of its work culture, communication about policies and internal activities is regularly updated as part of cohesive and synchronized system implementation planning. Employees are also mentored, coached, and inspired by leaders, managers, and colleagues through many programs tailored for targeted positions. Concurrently, personal concerns are shared in a friendly environment that respects each other's development.

In general, the relationship between employees and ACB is a partnership, closely connected and going hand in hand to create proud achievements.
Achievements and Impact
National statistics show credit of the whole country at the end of 2022 was 14.17% higher than that of 2021, and deposits increased by 7.98%. On that note, ACB always places prudence and flexibility as priorities in the management of its operations to ensure continuous and sustainable development.

For ACB, the bank successfully met its targets for the year, this includes its total assets having reached VND 608 trillion, a 15% growth rate, and 103% achievement of plans (97% of which were profitable assets). Besides that, customer deposits amounted to VND 414 trillion, an increase of about 9%, although customer deposits missed expectations (11%), it surpassed the increase in 2021 and helped improve ACB’s share in the market. At the same time, customer loans reached VND 414 trillion, up 14.3% Year-Over-Year (YOY), of which asset growth in a separate report was 15.2%, nearly capping out the quota granted by the SBV.

Other achievements include the bank’s Profit-Before-Tax hitting VND 17,114 billion, representing a 43% increase from last year and 14% beyond the expectation of VND 15,018 billion; the non-performing loan ratio also stood at 0.74%, a lower rate in comparison with other banks.

Future Direction
ACB's future expansion plan continues to rely on organic growth. ACB has been preparing for changes in internal management thereby promoting business growth, saving operating costs, optimizing resources, automating processes, and enhancing customer experience.

In order to achieve that goal, ACB has been following a specific transformation roadmap. This covers an innovative business model that is needed to transform the organizational model and synchronize transformations in products, processes, and digitalization; innovate products with easy-to-use features that are easy to convert to digital banking; converting 80-90% of tasks to digital channels to reduce operations and document manipulation on paper, from there, it is possible to specialize the staff in the distribution channels; innovate, restructure, and streamline processes and procedures to reduce cumbersome tasks; and collaborate with major partners to expand the ecosystem.

CORPORATE EXCELLENCE CATEGORY

Asia Commercial Bank (ACB)

Information about the Company
Established in 1993, Asia Commercial Bank (ACB) has 30 years of development with a cultural foundation built on five core values: Integrity, Innovation, Prudence, Balance, and Efficiency. A proud history and a colorful story about its successes are included in ACB’s story.

Currently, ACB has over 13,035 employees working at 384 branches and sub-branches located throughout 49 provinces and cities nationwide. Employees have the opportunity to discover many interesting cultural features when the community and relationships stretch from South to North, from the coast to the highlands.

ACB will continue to emphasize the retail segment as its main growth driver. In 2023, ACB sees opportunities in the business segment, allowing ACB to focus on developing FDI enterprises, as well as enterprises in export processing zones and industrial parks. ACB will earn service fees while financing these businesses.

The bank’s vision is to be a leading bank in Vietnam while its mission is to continue to strengthen its competitive position in the market with a focus on sustainable growth. ACB is focused on investing in technology systems, human resources, and brand innovation to better serve its customers and exceed banking standards.

Corporate Culture & Company Activities
At ACB, the bank provides good infrastructure and facilities while utilizing every possible channel to communicate with its employees. Whether digital or non-digital, online or offline, on-site or off-site, each staff member is well-engaged with the bank’s common objectives and is able to let their voice be heard. In addition, ACB participates in recognition awards of various professional associations to better understand its employees’ viewpoints.

Through these methods, the bank has received very positive comments with many outstanding highlights. ACB has become one of the leading retail banks in Vietnam with a stable and developed business; the bank provides a transparent and equal compensation policy and outstanding benefits packages that ensure employees’ long-term dedication; it also encourages a flexible working style with continuous innovation wherein employees are provided with a series of useful tools and the conditions required to quickly achieve their goals within the organization. Through colorful “Work:Live:Learn” activities ACB can improve its competencies, achieve success in parallel with the organization’s vision, meet its responsibilities to society and the environment, and pursue life-long learning. Thus employees are empowered to master their own career development.

As part of its work culture, communication about policies and internal activities is regularly updated as part of cohesive and synchronized system implementation planning. Employees are also mentored, coached, and inspired by leaders, managers, and colleagues through many programs tailored for targeted positions. Concurrently, personal concerns are shared in a friendly environment that respects each other's development.

In general, the relationship between employees and ACB is a partnership, closely connected and going hand in hand to create proud achievements.
Achievements and Impact
National statistics show credit of the whole country at the end of 2022 was 14.17% higher than that of 2021, and deposits increased by 7.98%. On that note, ACB always places prudence and flexibility as priorities in the management of its operations to ensure continuous and sustainable development.

For ACB, the bank successfully met its targets for the year, this includes its total assets having reached VND 608 trillion, a 15% growth rate, and 103% achievement of plans (97% of which were profitable assets). Besides that, customer deposits amounted to VND 414 trillion, an increase of about 9%, although customer deposits missed expectations (11%), it surpassed the increase in 2021 and helped improve ACB’s share in the market. At the same time, customer loans reached VND 414 trillion, up 14.3% Year-Over-Year (YOY), of which asset growth in a separate report was 15.2%, nearly capping out the quota granted by the SBV.

Other achievements include the bank’s Profit-Before-Tax hitting VND 17,114 billion, representing a 43% increase from last year and 14% beyond the expectation of VND 15,018 billion; the non-performing loan ratio also stood at 0.74%, a lower rate in comparison with other banks.

Future Direction
ACB's future expansion plan continues to rely on organic growth. ACB has been preparing for changes in internal management thereby promoting business growth, saving operating costs, optimizing resources, automating processes, and enhancing customer experience.

In order to achieve that goal, ACB has been following a specific transformation roadmap. This covers an innovative business model that is needed to transform the organizational model and synchronize transformations in products, processes, and digitalization; innovate products with easy-to-use features that are easy to convert to digital banking; converting 80-90% of tasks to digital channels to reduce operations and document manipulation on paper, from there, it is possible to specialize the staff in the distribution channels; innovate, restructure, and streamline processes and procedures to reduce cumbersome tasks; and collaborate with major partners to expand the ecosystem.