AsemconnectVietnam - The Board of Directors of Nam A Commercial Joint Stock Bank (Nam A Bank, code NAB - UPCoM) on August 23 approved a resolution to supplement the plan to list NAB shares at the Ho Chi Minh City Stock Exchange (HOSE).

Accordingly, Nam A Bank's Board of Directors unanimously approved the plan to list all more than 1 billion NAB shares on HOSE. The expected time to send the application for listing registration is in the third or fourth quarter of 2023. The Board of Directors continued to list NAB shares on HOSE according to the additional plan.
At the 2023 Annual General Meeting of Shareholders of Nam A Bank held on March 18, the Bank approved the registration to list all outstanding shares of Nam A Bank on HNX or HOSE depending on market conditions.
Previously, the stock listing plan was approved by the General Meeting of Shareholders in 2022 but then proactively postponed to ensure shareholder rights in the context of an unfavorable macro environment and unpredictable stock market developments.
NAB shares started trading on UPCoM from October 9, 2020 with a reference price of 13,500 dong/share. Currently, NAB shares are trading around 12,500 dong/share at the beginning of the session on August 25, up 85% compared to the beginning of this year.
As of June 30, 2023, Nam A Bank's total assets reached more than VND200,200 billion (up 12.74% compared to the beginning of the year), Nam A Bank joined the group of 20 banks with the largest total assets.
Funds mobilized from residents and economic organizations grew well to nearly VND151,197 billion (increasing by more than 16% compared to the beginning of the year, completing 98% of the plan in 2023); Outstanding customer loans grew in accordance with the credit growth limit licensed by the State Bank, reaching more than VND129,300 billion (up 8.1% compared to the beginning of the year, completing nearly 98% of the 2023 plan).
Since the beginning of the year, the State Bank has reduced the operating interest rate 4 times in a row. The pressure of bad debt and NIM decline was faced by the whole banking system. NPLs at Nam A Bank are not out of the general trend of the industry, currently increasing slightly by 2.7% (but debt needs attention - group 2 of Nam A Bank decreased by more than 21%) due to the macroeconomic situation. adversely affect the financial capacity of the customer.
This is the general situation of the whole industry, so the government and the State Bank of Vietnam have issued many solutions to support the economy, for example, Circular 02/2023/TT-NHNN on debt restructuring to support customers facing difficulties. Asset quality is expected to recover in the coming quarters.
The positive point is that Nam A Bank's NIM has remained stable at over 3.2% in the context of narrowing deposit and lending interest rates, thanks to solutions to optimize the structure of profitable assets and the mobilization structure. Non-interest income is also a bright spot of Nam A Bank when this index has a strong growth. Net profit from service activities reached VND241.6 billion, up 185% over the same period last year.
Moreover, the safety indicators in operation far exceed the level regulated by the State Bank. Nam A Bank has also complied with liquidity indicators, meeting Basel III criteria.
Capital adequacy ratio (CAR) reached over 9.5% (minimum according to the regulations of the State Bank of 8%), the ratio of outstanding loans to deposits of LDR reached 71.6% (the maximum according to regulations of the State Bank is 85 %). is 50%), the 30-day solvency ratio of USD is 38.99% (minimum according to the regulations of the State Bank of 10%), the ratio of short-term funds for medium and long-term loans is 22.58% (minimum). The maximum according to the regulations of the State Bank is less than 34%).
This growth momentum has contributed significantly to Nam A Bank's pre-tax profit of VND1524.8 billion in the first 6 months of 2023 (up nearly 30.21% over the same period in 2022, completing 46% of 2023 plan). The bad debt ratio is controlled according to the regulations of the State Bank.
N.Nga
Source: VITIC/Tinnhanhchungkhoan