CHAPTER 2: RESEARCH METHODOLOGY & EMPIRICAL FINDINGS
2.4. Overview of the case ABBank
2.4.2 History and development process of ABBank
First stage: 1993- 2002
ABBank was established in May 1993 with registered capital of VND 1 billion at 138 Hung Vuong, An Lac, Binh Chanh district, Ho Chi Minh City. In a long time, ABBank focused on agricultural sector. In addition, in the first time it was a rural bank. Now, the Head Office of the Bank is located at 47 Dien Bien Phu, District 1, Ho Chi Minh City, Vietnam.
Second stage: 2002-2006
To meet the increasing demands of customers for modern banking products and services, at this stage ABBank implemented fundamental reforms in organizational structure and top management to focus on two business areas:
commercial and investment banking.
Third stage: 2006-2007
On 6 December 2006, ABBank signed agreement with Temenos to implement the core banking solution and opened International Banking Centre in Hanoi. ABBank inaugurated seven new transactional offices in Hanoi; consist of
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ABBank Dinh Tien Hoang, ABBank Tran Khat Chan, Nguyen Van Cu, Tran Dang Ninh, Ton Duc Thang, Le Trong Tan, and Quan Thanh. ABBank has issued successfully VND 1000 billion 10 year and fixed rate bond for EVN with the technical assistance of Deustche Bank and VinaCapital. Registered capital was increased from VND 165billion at the beginning of the year to VND 1131 billion by the end of 2006.
Fourth stage: 2007
In January 2007, Asia Money selected EVN bond underwritten by ABBANK as the best Asia local currency bond 2006. In April 2007 ABBank was selected to receive the "Best Banker Award" in the category of the bank has success quick development of high service and product.
b) Development process of the Bank
ABBank is a Vietnamese joint-stock commercial bank established in Vietnam in accordance with the Business License No.0031/NH-GP dated 15 April 1993 issued by State Bank of Vietnam, which has become effective from 18 September 1997 for a period of 20 years. The Bank was initially registered as a rural joint stock bank. According to Decision No.1333 dated 07 September 2005 issued by the State Bank of Vietnam, the Bank was approved to transform to a commercial bank. The Bank can carry out full banking activities which include mobilizing and receiving short term, medium term and long- term capital from various organizations and individuals lending short term, medium term and long term capital to various organizations and individuals up to the nature and ability of the Bank's capital resources; conducting foreign currency transactions; international commercial service, discounting of commercial notes, bonds and valued documents;
providing transaction services between customers; and other banking services as approved by the State Bank of Vietnam.
Network Development
In 2006, ABBank has expanded quickly the network to serve new customers
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locations including ABBank Le Van Sy in Ho Chi Minh City, Can Tho, Vung Tau, Binh Duong,Da nang city, increasing total number of ABBank offices by year end to 14. As at 31 August 2007, the Bank has one (1) Head Office, six (6) main branches and twenty six (26) transaction offices in Ho Chi Minh City, Hanoi, Da Nang, Can Tho and Ba Ria – Vung Tau. The goal of ABBank in network development in 2007 is to increase the number of branches and offices to 60 by the end of the year in nationwide. Next, we consider some information about result of operation of ABBAnk from 2004 to 2006.