Agribank insurance (ABI VN)_2022 AM updated
 

• Business Plan 2022: Revenue reaches at least VND 2,124 billion, + 8.4% YoY. The underlying premium will reach VND 2,114 billion, + 8% YoY. Minimum PBT reaches VND 316 billion.
• The company targets to reach VND 3,300 billion in revenue by 2025, with charter capital reaching VND 700 billion.
• Dividend 2022: 20% in shares
• After the decrease in revenue due to the Covid-19 pandemic in 2021, insurance revenue has now recovered, monthly sales was back to normal at VND200 billion / month and expected to grow strongly in 2022, making up for sales reduction in 2021.
• There is low compensation cost in 2021 low due to social distancing, leading to increased profits.
• From now until 2025, the board of directors will list shares on the exchange.
• Currently, the new Law on Insurance Business does not have a significant impact on the business activities of the company.
• There is still huge potential in the credit insurance product line. The management will try to expand the sales channel to credit funds as well as branches of other banks.
• 6 months business result is still following the plan.
• The equitization of Agribank is still being implemented, especially removing obstacles in land use plans.
• Currently Credit Insurance products are proving great benefits for farmers, ensuring social security, and customers buying on a voluntary basis, the level of product satisfaction is very high.