The magazine selected ACB, Vietnam's leading joint stock bank, for the award in recognition of its brand name value, financial outcomes, the transparency of its development strategy, and its capacity for risk management and investment in human resources training.

Over the past few years, ACB has endeavoured to become Vietnam's leading retail bank by continuously developing its products and services and expanding its operations throughout the country to meet the demands of its customers.

Last year, ACB was presented with the "Bank of the Year 2005, Vietnam" award by the Asian Banker for its strong growth rates in capital and benefits, as well as for its successful application of the Economic Value Added (EVA) strategy and use of advanced technologies.

ACB reported a pretax profit of nearly VND230 billion (approximately US$14.3 million) in the first five months of this year. The bank, whose registered capital reaches over VND1.1 trillion (around US$68.9 million), mobilised over VND26.6 trillion (US$1.66 billion) and lent out more than VND11.34 trillion (US$710.9 million) by the end of May.