ABBANK announces the establishment of the ESG Sustainable Development Strategy Committee led by Mr. Vu Van Tien, Vice Chairman of the Board of Directors. (ABBANK and Maybank signing a memorandum of understanding in 2024)
ABBANK officially established the ESG Sustainable Development Strategy Committee with the goal and role of directing the development, implementation, and supervision of sustainable development strategies; activities; programs and initiatives related to the environment, society, and governance (ESG) of ABBANK, ensuring alignment with the Bank's sustainable development strategy. Mr. Vu Van Tien will resign from the Board of Directors at the upcoming 2025 Annual General Meeting of Shareholders and focus on leading and directing this important strategic committee.
In November 2024, ABBANK signed with ADB and ERM to implement the "Environmental and Social Management System" (ESMS) project, specifically for Trade Finance operations.
This is a strong strategic commitment by ABBANK to proactively coordinate and implement the policies of the Government and the State Bank in encouraging credit institutions to integrate ESG factors into their operational strategies to achieve the following objectives: Promoting sustainable Banking development; Better risk management in a volatile environment; Enhancing capital attraction from investors and green finance funds. The plan to invest significant resources in the Committee - senior personnel who are experts and personnel with a broad vision and diverse professional experience in and outside the field of finance and banking, demonstrates ABBANK's determination towards sustainable development strategy and ESG implementation of the Bank in the next decade.
As part of its strategy for effective and sustainable development, ABBANK is focusing on enhancing its competitiveness by strengthening flexible and efficient financial solutions based on customer understanding and implementing comprehensive digitalization of the bank.
Previously, in November 2024, ABBANK signed a cooperation agreement with the Asian Development Bank (ADB) and ERM Vietnam Co., Ltd. (ERM) to implement the "Environmental and Social Management System" (ESMS) project, specifically for Trade Finance operations. This project is one of ABBANK's first important steps in implementing ESG, promoting green finance, sustainable development, and enhancing the social responsibility of ABBANK and its corporate customers.
ABBANK improved and launched many products and services for individual and SME customers in 2024. In particular, the launch of the digital banking platform for businesses, ABBANK Business, contributed to an impressive 248% increase in the number of digital transactions of corporate customers at ABBANK in the third quarter of 2024 compared to the second quarter of 2024 and a 145% increase over the same period in 2023.
As part of its strategy for effective and sustainable development, in 2024, ABBANK continuously worked on improving its technology platform and human resources to prepare core resources, ready for projects to enhance management capacity and competitiveness inthe market. Many products and services for individual and SME customers were improved and launched by ABBANK in 2024 with a series of features and convenient interfaces based on customer understanding and integration of modern technology features.
Among them, the ABBANK Business digital banking platform for businesses stands out, having received the love and trust of a large number of customers, contributing to an impressive 248% increase in the number of transactions via Digital Banking of corporate customers in the third quarter of 2024 compared to the second quarter of 2024 and an increase of 145% over the same period in 2023. In particular, ABBANK also left many positive marks in the market in 2024 through many campaigns joining hands with the community for a developed and sustainable Vietnam future: the "Xanh An Binh - Xanh Vietnam" afforestation project contributes to preventing landslides and erosion, creating livelihoods for people, supporting customers affected by storm Yagi, building key educational works for students in highland areas, contributing to the budget to build houses for special priority subjects...
ABBANK also made a positive impact on the market in 2024 through many campaigns joining hands with the community for a developed and sustainable future for Vietnam.
On January 15, 2025, Mr. Vu Van Tien - Vice Chairman of the Board of Directors and Mr. Tran Ba Vinh - Independent Member of the Board of Directors of ABBANK submitted their resignations from the position of Member of the Board of Directors of ABBANK. In addition, Maybank - a foreign shareholder of ABBANK also had a pre-existing plan to replace its representative for 50% of Maybank's capital contribution to the ABBANK Board of Directors and nominated a replacement for Mr. Dato' John Chong Eng Chuan. The resignations and termination of membership of the aforementioned individuals will take effect from the time the upcoming 2025 Annual General Meeting of Shareholders of ABBANK approves the dismissal and election of new replacement members of the Board of Directors./.
