AsemconnectVietnam - Recently, the Ho Chi Minh City Stock Exchange decided to approve the listing of NAB shares of Nam A Commercial Joint Stock Bank (Nam A Bank, UPCoM: NAB).

Accordingly, HOSE approved the listing registration for more than 1 billion NAB shares. The value of listed shares is more than VND10,580 billion calculated at par value.
In recent years, many banks trading on UPCoM have planned to move their listing to HOSE or HNX. In early 2023, this plan will continue to be presented at the General Meeting of Shareholders. At this point, 2023 is almost over, Nam A Bank is the only bank in the system approved to change floors.
The HOSE listing marks a turning point, helping Nam A Bank attract investors, especially foreign investor groups. At the same time, continuing to affirm transparent and stable business operations, helping the Bank soon realize its goal of becoming the leading retail joint stock commercial bank in Vietnam, providing the best financial solutions for customers.
By the end of the third quarter of 2023, Nam A Bank's total assets reached nearly VND207 trillion, an increase of nearly 19% over the same period, completing 100.9% of the year's plan. Thereby, Nam A Bank joined the group of 20 banks with the largest total assets in the system.
Meanwhile, pre-tax profit grew steadily, reaching more than VND2,000 billion (up 10.3% over the same period). Total capital mobilization and credit balance successfully completed the year's plan, reaching more than VND164 trillion and more than VND132 trillion, respectively. The bad debt ratio is strictly controlled according to regulations of the State Bank.
To achieve the above results, Nam A Bank has proactively deployed a series of solutions to strengthen its solid foundation. Pioneering comprehensive digitalization, focusing on developing green credit early, constantly strengthening management capabilities to ensure outstanding efficiency and sustainability are the ways that Nam A Bank builds a brand for sustainable development, building trust in customers, investors and partners.
Nam A Bank's digital banking ecosystem is continuously being improved, enhancing features to give customers a seamless, fast, secure and different experience. Being a leader in digital transformation has helped the number of individual customers of Nam A Bank increase sharply in recent years. At the same time, it is also a solution to the problem of expanding the network while still ensuring reduction in operating costs.
The volume and value of Nam A Bank's electronic banking transactions have increased 11.8 times compared to 2021. By November 2023, it will increase 1.55 times compared to the end of 2022. Number of customers’ active growth doubles compared to 2022.
Promoting business with a good risk management system and pioneering the application of international standards has been one of the top priorities of banks in recent years to attract customers, investors as well as flexible response to market challenges.
In 2023, the Bank announced the completion of implementing the credit risk component according to the Basel II - FIRB internal credit rating method and continued to complete the development of methodologies and tools according to Basel III standards. – Reforms.
Previously, Nam A Bank was one of the first four Vietnamese banks to announce completion of Basel III risk management standards. At the same time, Nam A Bank and Ernst & Young Vietnam held a handover ceremony for the project implementing IFRS international financial reporting standards, marking an important milestone in pioneering the application of the international finance management standards.
By further consolidating the most advanced components of Basel as well as international financial reporting standards, Nam A Bank continues to affirm its transparency and operate safely and effectively in the face of many challenging economic contexts like nowadays. The proof is that in recent years, Nam A Bank has continuously been trusted and approved by the State Bank to expand its branches and transaction offices
Up to this point, Nam A Bank has nearly 250 business locations nationwide, including nearly 150 traditional business locations (branches, transaction offices) and 100 ONEBANK locations, meeting the transaction needs of millions customers. On December 15, the State Bank also issued documents approving Nam A Bank to establish 5 branches and 3 transaction offices.
Nam A Bank's positive changes in finance and risk management in 2023 also positively reflect on the bank's stock performance. Nam A Bank's investment performance outperforms the VN Index and the average of banking industry stocks.
Following the above achievements, Nam A Bank's listing of shares on HOSE - the largest stock exchange with the highest standards in Vietnam is the next big step in the bank's development process. New challenges and pressures when listing will also be conditions for Nam A Bank to continue sustainable growth, seizing new business and cooperation opportunities to bring more benefits to shareholders.
N.Nga
Source: VITIC/Tinnhanhchungkhoan