ABBank to keep bad debts ratio below 3% until year end

ABBank aims to keep its bad debts ratio below 3% until the end 2011.

Tran Thanh Hoa, CEO of the bank, stated that ABBank set aside proper provisions for loan losses. The bank has also established a Risk Management Board to review its bad debts.

ABBank’s outstanding credits in non-production sector currently stayed below 16% of total loans, Hoa said, adding that the bank has been submitting monthly reports on the proportions of non-production and production loans to the State Bank of Vietnam.

The bank currently has foreign shareholders such as International Finance Corporation, 10%, and Maybank, 20%.

The unlisted lender plans to raise its charter capital to VND5 trillion by the end of 2012.