ABBank’s Pretax Profit Rises Nearly 87% in First Nine Months as Geleximco Expands into Semiconductors
Vũ Văn Tiền returned as ABBank chairman in November 2025 and set goals to speed up loan approvals and expand its customer base. The bank’s pretax profit rose 86.9% in the first nine months of 2026. Geleximco also signed an agreement with Chery Group to pursue 15 projects in Vietnam, including work in semiconductors and robotics.
In November 2025, Vũ Văn Tiền returned as chairman of Ngân hàng TMCP An Bình (ABBank), having previously handed his management role at Geleximco to his younger brother. He had left the ABBank chairmanship in April 2018. At a shareholders’ meeting in April 2026, he said the bank’s business was developing more slowly than expected and that he wanted to drive reforms.
Vũ Văn Tiền proposed cutting the approval time for personal loans from several days to 8–10 minutes. Through a strategic partnership with VNPT, he also aims to expand ABBank’s customer base from 500,000 to 5–10 million, with a longer-term goal of 30 million. These figures are his stated targets. ABBank’s financial statements show pretax profit of more than VND 4.301 trillion in the first nine months of 2026, up 86.9% year on year and equal to nearly 96% of its full-year target.
Beyond banking, Geleximco Group continues to expand its manufacturing business. On October 20, 2026, the group signed a comprehensive strategic cooperation agreement with Chery Group to pursue 15 large-scale projects in Vietnam. The cooperation covers fields including semiconductor chips, robotics and green energy.
Geleximco and Chery Group signed a comprehensive strategic cooperation agreement on October 20, 2026.（VietVance）
Vũ Văn Tiền founded Geleximco in February 1993 with registered capital of VND 3 billion and a staff of three. According to the article, the group now has total assets of VND 80 trillion, annual revenue exceeding VND 20 trillion and more than 10,000 employees. Its businesses span industrial manufacturing, real estate, finance and banking.
Source: VietVance
