Awards for Excellence 2008: Vietnam
Best bank: Asia Commercial Bank
Bankers, analysts and investors based in Ho Chi Minh City barely pause for breath when asked to name Vietnam’s best commercial lender. Asia Commercial Bank again wins this award hands down. "ACB is a little more conservative than its closest rival, Sacombank, and way ahead of the others in the market," says a Ho Chi Minh City-based fund manager. A leader in broking, asset management and leasing, ACB posted unaudited gross profit of D1.76 trillion ($110 million), up nearly 300% year on year, with loans surging 87% over the same period to D32 trillion. The Ho Chi Minh City-based institution continued its performance into 2008, posting unaudited gross profit of D501 billion in the first quarter of the year.
Vietnam’s rather troubled market pulled off a few big transactions over the past year, and Credit Suisse was involved in them all.