Asia Commercial Bank

Romanized name

| Asia Commercial Bank
Company type| Joint-stock company

Traded as

| ACB
Industry| Financial services
Founded| 19 May 1993
Headquarters|

Ho Chi Minh City

Vietnam

Number of locations

| 346 branches

Area served

| 47 provinces and cities
Services| Banking

Number of employees

| 10,000
Subsidiaries| ACB Securities, ACB Leasing, ACB Real Estate
Website| https://www.acb.com.vn/
A branch of Asia Commercial Bank in Da Lat

Asia Commercial Bank, often abbreviated to ACB, is the largest private bank in Vietnam by assets,[citation needed] headquartered at 442 Nguyễn Thị Minh Khai, Ward 5, District 3, Ho Chi Minh City. It was registered on 19 May 1993 and began operations in June 1993.[1] The bank trades at the Ho Chi Minh Stock Exchange under the symbol ACB, where it listed on December 9, 2020 after previously trading at the Hanoi Stock Exchange.[2]

## Main services

[edit]

* Raising capital (receiving deposits from customers) in VND, foreign currencies and gold.
* Using capital (providing credit, investment, joint venture capital) in VND, foreign currency and gold.
* Intermediary services (local/international public and quick money transfers, life insurance).
* Trading foreign currency and gold.
* Issuance and payment of credit and debit cards.

## Controversies

[edit]

According to PetroTimes, on August 22, 2012, Lý Xuân Hải - General Director of ACB - was ordered to be detained for 4 months by the Supreme People's Procuracy. Hải was prosecuted and taken into custody to investigate acts of intentionally violating State regulations on economic management.[3] Tuổi Trẻ Online confirmed this the next day.[4] On the same day, it was reported by VnExpress that ACB's Board of Directors had approved Hải's resignation letter for personal reasons, and appointed Đỗ Minh Toàn as General Director since August 23.[5] As revealed by Toàn, customers withdrew 5 billion VND (240 million USD) from the bank on Wednesday, August 22.[6]

On September 19, 2012, ACB announced their approval of resignation by Chairman Trần Xuân Giá and 2 Vice Chairmen, Lê Vũ Kỳ and Trịnh Kim Quang, due to their involvement in Hải's case.[7] On the same day, Eximbank's management approved Phạm Trung Cang's resignation from the position of Vice Chairman. Trương Văn Phước - Eximbank's General Director - said that Cang resigned because he needed time to explain his responsibilities during his previous working time at ACB.[8]

On September 27, the Ministry of Public Security informed that the four defendants - Trần Xuân Giá, Lê Vũ Kỳ, Trịnh Kim Quang, and Phạm Trung Cang - had been prosecuted, and were currently forbidden to leave their residence. Those previous managers of ACB were accused of having issued a policy of entrusting employees to use ACB's capital in contravention of regulations, causing serious consequences. They were accomplices with the two people arrested earlier, former general director Lý Xuân Hải and former vice chairman Nguyễn Đức Kiên.[9] The investigating agency assessed that their actions were contrary to the provisions of Article 106 of the Law on Credit Institutions and the guiding circular of the State Bank - and has caused loss of hundreds of billions of VND.[10]

## Awards

[edit]

* Vietnam's Top 10 Best Commercial Banks.[11][12]
* The 10 Most Trusted and Effective Commercial Banks in Vietnam.[13][14]
* Top 50 listed companies in Vietnam.[15][16]
* Best companies to work for in Asia 2021.[17][18]
* Inspirational Brand Award[19][20][21]
* Best Domestic Bank 2017[22][23]
* Best Bank for Corporate Social Responsibility.[24][25][26]
* The Top 10 Most Trusted Vietnamese Commercial Banks.[27][28]

## See also

[edit]

* List of banks in Vietnam

* Banks portal

## References

[edit]

1. ^ "About ACB".
2. ^ "ACB Milestones". Vietstock. Archived from the original on 2013-11-12.
3. ^ PetroTimes: "Khởi tố, bắt tạm giam Tổng Giám đốc Ngân hàng ACB" 22/8/2012
4. ^ Bắt nguyên Tổng giám đốc NH ACB Lý Xuân Hải 23/8/2012
5. ^ Ông Lý Xuân Hải từ nhiệm Tổng giám đốc ACB 23/8/2012
6. ^ Fallout Continues at Vietnamese Bank NEIL GOUGH 24/8/2012
7. ^ Chủ tịch ACB Trần Xuân Giá từ nhiệm vnExpress 19.09.2012
8. ^ Từng liên quan tới ACB, Phó chủ tịch Eximbank từ chức vnExpress 20.09.2012
9. ^ "Cựu chủ tịch ACB Trần Xuân Giá bị khởi tố". VnExpress. Retrieved 27 September 2012.
10. ^ "Ông Trần Xuân Giá: 'Tôi có bảo bối để bảo vệ mình'". CafeBiz. Archived from the original on 2012-09-30. Retrieved 28 September 2012.
11. ^ thitruong.nld.com.vn (2022-08-10). "ACB liên tiếp nhận giải thưởng uy tín ngành tài chính ngân hàng". thitruong.nld.com.vn (in Vietnamese). Retrieved 2024-01-24.
12. ^ VnExpress. "ACB nhận nhiều giải thưởng". vnexpress.net (in Vietnamese). Retrieved 2024-01-24.
13. ^ vnba (2023-06-06). "15 ngân hàng hội viên vào Top 50 công ty đại chúng uy tín và hiệu quả năm 2023". Hiệp hội ngân hàng Việt Nam (in Vietnamese). Retrieved 2024-01-24.
14. ^ Trương, Nghi (2022-08-10). "ACB được vinh danh tại nhiều hạng mục uy tín của ngành tài chính ngân hàng". Nhịp sống kinh tế Việt Nam & Thế giới (in Vietnamese). Retrieved 2024-01-24.
15. ^ VIR, Vietnam Investment Review- (2022-08-22). "Which banks are in the top publicly listed companies in Vietnam in 2022?". Vietnam Investment Review - VIR. Retrieved 2024-01-24.
16. ^ ONLINE, TUOI TRE (2023-10-16). "ACB liên tục đứng top trên bảng xếp hạng CAMEL". TUOI TRE ONLINE (in Vietnamese). Retrieved 2024-01-24.
17. ^ Nẵng, Báo Công an TP Đà. "ACB được vinh danh "nơi làm việc tốt nhất châu Á 2021"". cadn.com.vn (in Vietnamese). Retrieved 2024-01-24.
18. ^ "ACB Bank honored as "Best Companies to Work for in Asia 2021"". baokhanhhoa.vn (in Vietnamese). Retrieved 2024-01-24.
19. ^ "ACB liên tiếp nhận nhiều giải thưởng danh giá trong khu vực". Báo điện tử Tiền Phong (in Vietnamese). 2022-02-28. Retrieved 2024-01-24.
20. ^ Trí, Dân (2022-03-03). "ACB được vinh danh "Thương hiệu truyền cảm hứng" từ APEA". Báo điện tử Dân Trí (in Vietnamese). Retrieved 2024-01-24.
21. ^ VCCorp.vn (2022-10-12). "ACB được APEA vinh danh tại nhiều hạng mục giải thưởng uy tín". cafef (in Vietnamese). Retrieved 2024-01-24.
22. ^ "Bức tranh sáng về lợi nhuận ngân hàng". Tin nhanh chứng khoán (in Vietnamese). 2017-11-27. Retrieved 2024-01-24.
23. ^ "Nhận 2 giải thưởng uy tín từ Asiamoney". beta.baokhanhhoa.vn (in Vietnamese). Retrieved 2024-01-24.
24. ^ VnExpress. "ACB được bình chọn là 'Ngân hàng tốt nhất Việt Nam'". vnexpress.net (in Vietnamese). Retrieved 2024-01-24.
25. ^ Quoc, Bao (2023-02-10). "Joker balance check" (in Vietnamese). Retrieved 2024-01-24.
26. ^ "ACB nhận 2 giải thưởng uy tín của Asiamoney". BBD-Tin tức hay. Retrieved 2024-01-24.
27. ^ thitruongtaichinhtiente.vn (2022-06-29). "Vietnam Report công bố danh sách Top 10 Ngân hàng thương mại Việt Nam uy tín năm 2022". thitruongtaichinhtiente.vn (in Vietnamese). Retrieved 2024-01-24.
28. ^ thitruongtaichinhtiente.vn (2023-06-20). "Vietnam Report công bố Top 10 ngân hàng thương mại Việt Nam uy tín năm 2023". thitruongtaichinhtiente.vn (in Vietnamese). Retrieved 2024-01-24.

## External links

[edit]

* ACB's official website (Vietnamese)
* ACB's official website (English)
* Asia Commercial Bank's page at Hanoi Securities Trading Center
* Asia Commercial Bank (ACB): Oracle Success Story

Authority control databases

International|

* VIAF

National|

* Germany

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