Bro. Bernard Mary, Principal of ACC, started a private college (ASB) in 1969 which was ultimately upgraded to a private university in Thailand.
Assumption School of Business (ASB) was established by the Brothers of St. Gabriel in Thailand in 1969.
ASB was fully operational and June 2, 1969 was the first day of class with the enrollment of the first batch of 53 students.
The first student enrolled in ASB program in 1969 was Mr. Abhichat Rungsirijairatana, with Admission Number 1210001 (Class 1).
Faculty of Business Administration was established in the same year ASB (Assumption University) was founded in 1969.
April 1972, Rev. Bro. Prathip M. Komolmas made use of a piece of land in Hua Mak to set up Assumption Business Administration College (ABAC).
June 16, 1972, ASB was accredited by the Bureau of University Affairs as a degree-granting private college under the new name “Assumption Business Administration College” or ABAC.
The first building at Hua Mak Campus was constructed in 1972 and later named “Saint Philip & Bernard Building” by Rev. Bro. Prathip M. Komolmas.
Rev. Bro. Sompong Jirananda was appointed the first president in 1972; serving as the college Director (President) until 1974.
June 1974, Assumption Business Administration Social Volunteer Club” was established.