Name & BackgroundAsia
Commercial Bank (ACB) is a leading commercial bank founded in 1993 and headquartered in Ho Chi Minh City, Vietnam. As a full-service commercial bank, ACB caters to the needs of individuals, corporations and SMEs by providing a wide range of financial products and services. The bank is privately held and, while not state-owned, has a strong local background and a significant presence in Vietnam's financial sector. ACB is currently unlisted and remains controlled by family and local investors.
Scope of
ServicesACB provides comprehensive banking services within Vietnam, with hundreds of branches, and through its extensive ATM network, it ensures that customers have convenient access to funds throughout the country. The bank's services mainly cover Vietnam, but it also provides some basic services in cross-border banking. Although its main market is in Vietnam, with the growing demand for global finance, ACB has gradually expanded its international business and provided corresponding services to foreign clients.
Regulation &
ComplianceAs a commercial bank in Vietnam, ACB is strictly regulated by the State Bank of Vietnam and other relevant financial regulators. The bank is fully compliant with the regulations of the Vietnamese banking industry and has joined the Vietnamese government's deposit insurance program to protect the safety of customers' funds. ACB has been committed to maintaining a good compliance record and has not had any major compliance issues in the recent past.
Financial HealthThe
financial health of the ACB has remained stable, mainly assessed by the following key financial indicators:
Capital adequacy ratio: ACB's capital adequacy ratio has been maintained at a relatively safe level, in line with international standards, The bank's capital soundness is ensured.
Non-performing loan ratio: The bank's non-performing loan ratio is lower than the industry average, reflecting its rigor in risk management and loan approval.
Liquidity Coverage Ratio: ACB has a high liquidity coverage ratio, which can effectively cope with short-term debt pressure and maintain sufficient cash flow and market trust.
Deposit & Loan Products
deposits: ACB provides customers with a range of deposit products, including demand deposits, time deposits, etc. Its fixed deposit interest rates are relatively competitive, especially for short-term deposits. In addition, the bank also offers high-yield savings accounts and large certificates of deposit (CDs) to meet the financial needs of different customers.
Loans: ACB's loan products include housing loans, car loans, and personal credit loans. Banks have some flexibility in terms of lending, especially when it comes to personal lines of credit, which meet the needs of a wide range of consumers. Mortgage and car mortgage interest rates are competitive in the market, and flexible repayment options are available to help customers better manage their debt.
List of common fees
Account Management Fees: ACB offers a variety of account management services, some of which may charge a monthly or annual fee, depending on the account type and customer needs.
Transfer fees: Domestic transfer fees are more reasonable, while cross-border transfers may be subject to a more substantial handling fee depending on the transaction amount.
Overdraft Fees and ATM Interbank Withdrawal Fees: Banks have standard fees for overdrafts and ATM interbank withdrawals, but they remain at the industry average.
Hidden Fee Alert: For some accounts, there is a minimum balance limit, and additional fees may be incurred if the conditions are not met.
Digital Service Experience
APP & Online Banking: ACB provides a user-friendly APP and online banking platform, which has received high user ratings, especially in terms of user interface and ease of operation. Core features include facial recognition, real-time transfers, and bill management, which greatly improves the customer experience.
Technological innovation: ACB has gradually introduced emerging technologies such as AI customer service and robo-advisors in technological innovation to improve the quality of customer service. In addition, the bank supports open banking APIs and enhances integration with third-party service platforms.
Customer Service Quality
Service Channel: ACB offers 24/7 phone support and stays in close contact with customers via live chat and social media. Its online response speed is relatively fast, and it is able to solve customer problems quickly.
Complaint Handling: ACB excels in complaint handling, with a low complaint rate, an average resolution time that meets industry standards, and a relatively high level of customer satisfaction.
Multi-language support: Although mainly for local Vietnamese customers, ACB also provides certain foreign language support for cross-border users, especially English and Chinese services.
Security Measures
fund security: ACB protects customer funds through the Vietnam Government Deposit Insurance Program and is equipped with advanced anti-fraud technology, such as real-time transaction monitoring, to reduce capital risk.
Data security: The bank strictly adheres to the ISO 27001 certification standard to ensure the security of customers' personal information and financial data. To date, there have been no major data breaches.
Featured Services & Differentiation
market segments: ACB has successfully captured the needs of these market segments by launching student accounts and wealth management products for seniors. In addition, banks have launched green financial products to support environmental protection and ESG (environmental, social, governance) investments.
High-net-worth services: For high-net-worth clients, ACB provides customized private banking services, including wealth management, investment advisory, etc., which have a high threshold but meet the needs of these clients for personalized and professional services.
