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

MASTER ENTREPRENEUR CATEGORY

Tran Hung Huy
Chairman of the BOD


Asia Commercial Bank (ACB)
www.acb.com.vn


Information about the Entrepreneur
Mr. Tran Hung Huy, Chairman of Asia Commercial Bank (ACB), was born in Ho Chi Minh City in 1978. Initially, the bank followed a strategy of simple rules, characterized by a focus on the pursuit of opportunities, growth, and building of its source of advantage with key processes and simple rules. By the end of 2011, the bank became the largest in terms of assets among the joint-stock banks, only smaller than the big four state-owned commercial banks. The bank so far has been considered well-managed with sustainable growth and increased value for its stakeholders.

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 wherein its total assets dropped by nearly one-third and its profitability deteriorated. Mr. Tran Hung Huy, then 34 years old, has been a director since 2006 and was elected to succeed the position and has chaired the Board since then.

Mr. Tran Hung Huy earned his bachelor’s degree with three majors in Business Administration, Finance, and International Business in 2000 and an MBA in 2002, both from Chapman University (USA); and he earned his DBA from Golden Gate University (USA) in 2010. He joined ACB as a market research officer in 2002 and later was appointed Deputy CEO in 2008 and functioned as Chief HR Officer. He earned his experience in investment banking when working in the M&A advisory team of Rothschild Group (UK) from 2010 to 2011.

In recognition of his leadership as Chairman, transforming ACB into a resilient and competitive company, Enterprise Asia awarded him Outstanding Entrepreneur for five consecutive years 2019-2023 among other notable awards.

Other Interesting Facts about the 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.

Additionally, Mr. Tran Hung Huy secured sources of funding that are more diverse and stable. From late 2012 through to 2022, ACB has been transformed into a resilient and competitive organization under his chairmanship. His leadership practices are characterized by building a vision and core values, developing strategies, restructuring the bank, going back-to-basics in the banking business, focusing on building people and cultural change, leading innovation, and promoting environmental conscientiousness among employees and customers.
Company Achievements & Role as Entrepreneur
ACB’s subsidiaries improved their contribution to the Group’s performance. This happened alongside the comprehensive restructuring of the management team, organizational model, and operations, as well as a complete overhaul of ACB’s brand identity.

By the end of 2022, ACB's Profit-Before-Tax (PBT) has reached over VND 17 trillion, which is 16 times higher than its profit in 2012, with an average annual growth rate of 32%. ACB has consistently maintained a leading Return-On-Equity (ROE) in the market in recent years, reaching 26.5% in 2022. ACB is consistently regarded as a bank with high-quality, safe, and healthy assets; this cautious business strategy has resulted in the lowest Non-Performing Loan (NPL) ratio in the industry and a high Loan Loss Reserve (LLR) statistic.

In addition to maximizing shareholder value and customer service, ACB places great importance on its responsibility to the community. ACB is Vietnam’s pioneer company in implementing sustainable development based on ESG and has spread the ideas of sustainable development and environmental protection to its entire staff and customers.

Mr. Tran Hung Huy also launched the campaign "Close to O” (Gan lai O), meaning Close to Earth, to promote an environmental protection culture to employees and customers of the bank.

Vision, Mission, & Future Plans
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 transformation roadmap. Its key objective covers restructuring business models to meet the demand for seamless and personalized customer experiences while adopting digital strategies to enhance digital transformation. Other objectives also include converting about 80-90% of tasks to digital channels to reduce paper use and enhance operational efficiency, innovating products with easy-to-use features that are easy to convert to digital banking; and collaborating with major partners (anchor companies, fintechs) to expand its ecosystem.

MASTER ENTREPRENEUR CATEGORY

Tran Hung Huy
Chairman of the BOD

Information about the Entrepreneur
Mr. Tran Hung Huy, Chairman of Asia Commercial Bank (ACB), was born in Ho Chi Minh City in 1978. Initially, the bank followed a strategy of simple rules, characterized by a focus on the pursuit of opportunities, growth, and building of its source of advantage with key processes and simple rules. By the end of 2011, the bank became the largest in terms of assets among the joint-stock banks, only smaller than the big four state-owned commercial banks. The bank so far has been considered well-managed with sustainable growth and increased value for its stakeholders.

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 wherein its total assets dropped by nearly one-third and its profitability deteriorated. Mr. Tran Hung Huy, then 34 years old, has been a director since 2006 and was elected to succeed the position and has chaired the Board since then.

Mr. Tran Hung Huy earned his bachelor’s degree with three majors in Business Administration, Finance, and International Business in 2000 and an MBA in 2002, both from Chapman University (USA); and he earned his DBA from Golden Gate University (USA) in 2010. He joined ACB as a market research officer in 2002 and later was appointed Deputy CEO in 2008 and functioned as Chief HR Officer. He earned his experience in investment banking when working in the M&A advisory team of Rothschild Group (UK) from 2010 to 2011.

In recognition of his leadership as Chairman, transforming ACB into a resilient and competitive company, Enterprise Asia awarded him Outstanding Entrepreneur for five consecutive years 2019-2023 among other notable awards.

Other Interesting Facts about the 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.

Additionally, Mr. Tran Hung Huy secured sources of funding that are more diverse and stable. From late 2012 through to 2022, ACB has been transformed into a resilient and competitive organization under his chairmanship. His leadership practices are characterized by building a vision and core values, developing strategies, restructuring the bank, going back-to-basics in the banking business, focusing on building people and cultural change, leading innovation, and promoting environmental conscientiousness among employees and customers.

Company Achievements & Role as Entrepreneur
ACB’s subsidiaries improved their contribution to the Group’s performance. This happened alongside the comprehensive restructuring of the management team, organizational model, and operations, as well as a complete overhaul of ACB’s brand identity.

By the end of 2022, ACB's Profit-Before-Tax (PBT) has reached over VND 17 trillion, which is 16 times higher than its profit in 2012, with an average annual growth rate of 32%. ACB has consistently maintained a leading Return-On-Equity (ROE) in the market in recent years, reaching 26.5% in 2022. ACB is consistently regarded as a bank with high-quality, safe, and healthy assets; this cautious business strategy has resulted in the lowest Non-Performing Loan (NPL) ratio in the industry and a high Loan Loss Reserve (LLR) statistic.

In addition to maximizing shareholder value and customer service, ACB places great importance on its responsibility to the community. ACB is Vietnam’s pioneer company in implementing sustainable development based on ESG and has spread the ideas of sustainable development and environmental protection to its entire staff and customers.

Mr. Tran Hung Huy also launched the campaign "Close to O” (Gan lai O), meaning Close to Earth, to promote an environmental protection culture to employees and customers of the bank.

Vision, Mission, & Future Plans
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 transformation roadmap. Its key objective covers restructuring business models to meet the demand for seamless and personalized customer experiences while adopting digital strategies to enhance digital transformation. Other objectives also include converting about 80-90% of tasks to digital channels to reduce paper use and enhance operational efficiency, innovating products with easy-to-use features that are easy to convert to digital banking; and collaborating with major partners (anchor companies, fintechs) to expand its ecosystem.

Asia Commercial Bank (ACB)
www.acb.com.vn