Awards recognise BAC A BANK’s work

17:05 | 15/02/2018
Locally-owned BAC A BANK’s recent win of several high-profile awards are a reflection of its sustainable development journey in providing investment consultancy for community-oriented high-tech agricultural projects.
awards recognise bac a banks work
BAC A BANK’s vice chairwoman and general director Thai Huong visits the high-tech dairy production project in Russia under the bank’s consultancy

Two weeks ago, BAC A BANK was given the “Best Corporate Advisory Board of Vietnam” award by International Finance Magazine (IFM), a publication reputable as a rich source of information, analyses, and insights for the global financial community. Meanwhile, the bank’s founder Thai Huong also won the “Most Inspirational CEO of the Year” award from the London-based IFM.

The first award mirrors the bank’s unique operational strategy, which provides investment consultancy for corporate clients engaged in high-tech agricultural projects, rural development, and social security.

The consultancy has greatly supported many enterprises to implement community-oriented high-tech projects which produce safe foodstuffs, fresh milk, and herbs, or building international-standard hospitals and schools in Vietnam.

Thai Huong was also recognised by IFM as the outstanding leader who has driven the bank to this new development strategy, which is in line with the Fourth Industrial Revolution surging in Vietnam and the world.

“In order to have successful projects, we pursue a clear vision, a suitable strategy, and a particularly strong sense of community,” Thai Huong said.

“We should employ Vietnam’s brainpower and high technology to awaken the country’s natural resources in order to create high-quality products for the Vietnamese people. High technology is a golden key to agricultural development. We cannot do projects without high technology.”

At a recent conference of the Ministry of Agriculture and Rural Development, Prime Minister Nguyen Xuan Phuc mentioned Thai Huong as a businesswoman inspiring local enterprises to deploy high-tech agricultural projects.

“Amid the Fourth Industrial Revolution, these projects are expected to help significantly change Vietnam’s agricultural sector, which remains backward,” the prime minister said. “TH Group’s projects, for example, have been making considerable contributions to the sector.”

Since 2008, under BAC A BANK’s consultancy, TH Group has been operating a $1.2 billion high-tech concentrated dairy and fresh milk production project in Nghe An province.

This project, recognised by the Asian Record Organisation as “the largest concentrated high-tech-applying dairy farm complex in Asia”, has helped TH Group take over 40 per cent of Vietnam’s fresh milk market share. The group has won many world-class awards, with its TH true MILK having become a famous Vietnamese brand name.

Currently, TH Group is also building a $2.7 billion high-tech concentrated dairy and fresh milk production project in Russia. This project also receives investment consultancy from BAC A BANK. The first product is scheduled to be marketed in Russia in 2018.

Besides milk projects, TH Group, under the bank’s consultancy, has also been effectively implementing projects to produce organic vegetables, fruit, and herbs with many brand names in Vietnam.

On December 28, 2017, the bank listed on the Hanoi Stock Exchange’s Unlisted Public Company Market (UPCoM) with the stock code B.A.B, at a price tag of VND20,000 ($0.9) per share. The bank offered 500 million shares to the market.

As of December 25, 2017, the bank’s total assets were nearly VND90 trillion ($4.09 billion), its deposits totalled VND64.25 trillion ($2.92 billion), and its loans were valued at VND54.65 trillion ($2.48 billion), while its bad debt sat at a low rate of 0.65 per cent.

By Thanh Dat

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