AsemconnectVietnam - At the end of 2024, NCB exceeded all business targets set at the Annual General Meeting of Shareholders. The restructuring plan was resolutely implemented by the Bank in accordance with the approved roadmap, gradually achieving the goal of safe operation and sustainable development.

National Citizen Commercial Joint Stock Bank (NCB - stock code: NVB) has just announced its business results for the fourth quarter and the whole year of 2024. Accordingly, NCB has promoted new business activities and achieved many positive results. At the same time, it completed the increase in charter capital to nearly VND 11,800 billion, resolutely implementing the bank restructuring in accordance with the Restructuring Plan (PACCL) with a vision to 2030 approved by competent authorities.
Step by step fundamentally overcome existing problems, improve operational efficiency
2024 marks a turning point for NCB in its restructuring journey by becoming the first credit institution to complete the construction and approval of PACCL according to the "Project on restructuring the system of credit institutions associated with bad debt settlement in the period 2021-2025" according to Decision 689/QD-TTg of the Prime Minister and guidance of the State Bank.
NCB representative said that the Bank has urgently and resolutely implemented the reclassification of assets according to PACCL immediately after being approved in June 2024. Next, the Bank has synchronously deployed solutions according to the PACCL roadmap, including: actively recovering and handling backlog assets, achieving 130% of the target at PACCL; completed the provisioning and divestment of accrued interest immediately after completing the charter capital increase to nearly VND11,800 billion last December.
The methodical, correct and appropriate solutions that were implemented drastically have helped NCB initially overcome existing problems, gradually improving the bank's operational efficiency. As of December 31, 2024, ie 6 months after implementing the first step of the PACCL roadmap, NCB's bad debt ratio recorded a significant decrease in the context of many market difficulties. The provisioning, divestment of accrued interest and capital expenditure of old existing accounts according to the roadmap at PACCL are also the reasons why 2024 profit recorded a negative level, although NCB's new business development activities in 2024 achieved very remarkable results with total net operating income (TOI) after risk provisions from new business activities (good bank) of VND2,968 billion. After deducting all operating expenses, the profit from new business activities reached VND1,339 billion. With a clear roadmap, comprehensive solutions, high determination of the whole system and under the comments and supervision of the State Bank and functional agencies, NCB said it is responding well to the comprehensive restructuring process. The bank ensures continuous, transparent, and safe operations, and operational safety indicators always comply with the regulations of the State Bank. The next steps in the approved restructuring roadmap will be thoroughly implemented by NCB, with the goal of completing the settlement of outstanding assets and completing PACCL by 2029.
Transforming thanks to the new Strategy, many targets in 2024 grow positively
In 2024, thanks to the strong implementation of the new strategy, cooperation with leading technology partners in the world and in the country, promoting digital transformation and upgrading products and services with a series of superior financial solution packages, NCB has achieved many positive results.
Specifically, by December 31, 2024, NCB has exceeded the target set at the Annual General Meeting of Shareholders held in April 2024. Of which, total assets reached VND118,562 billion, an increase of 23.2% compared to 2023 and exceeding the plan by 12%. Total outstanding customer loans reached VND71,175 billion, total capital mobilization from market 1 reached VND100,491 billion, exceeding the plan by 10.6% and 16.8% respectively. The consecutive positive growth figures over the past year are evidence that the quality of NCB's products and services is increasingly meeting higher standards and is loved and trusted by a large number of customers. As of December 31, 2024, NCB reached a customer base of more than 1.346 million customers, equal to 117.05% of the annual plan and a growth of 34.6% compared to the end of 2023.
NCB has also been approved by the State Bank of Vietnam to amend the charter capital content in the Establishment and Operation License, increasing from more than VND5,600 billion to nearly VND11,800 billion, after successfully issuing more than 617 million shares in the recent offering to domestic investors. The additional financial resources demonstrate the determination and strong actions of shareholders and all employees of the bank in the comprehensive restructuring journey, ensuring that the bank operates safely, healthily, effectively, and meets legal regulations and requirements of management agencies. At the same time, it helps NCB affirm its increasingly high competitiveness in the market.
According to the roadmap, NCB will continue to increase capital and it is expected that NCB's charter capital will reach more than VND29,000 billion by 2028, consolidating financial resources and increasing medium- and long-term capital to expand business operations.
In 2024, NCB's operational safety indicators will continue to be maintained and ensure the limits prescribed by the State Bank. As of December 31, 2024, the liquidity reserve ratio reached 17.27%, showing that the Bank is maintaining a "liquidity buffer" that is resilient to market fluctuations.
NCB representative said that despite facing many challenges when simultaneously implementing both tasks: comprehensively restructuring NCB according to the approved PACCL vision to 2030 and building a new version of NCB with quite challenging growth milestones, the entire NCB system is making efforts, determination, and acting together to conquer the goal. The initial achievements in 2024 are a testament to the commitment to "continually becoming a better version of ourselves" that this bank has set. From there, NCB becomes one of the most prestigious, healthy, and effective banks, providing the best financial services and solutions on the market.
In parallel with the drastic implementation of PACCL, step by step implementation according to the strategic direction of Digital Hybrid Asset Management, NCB has strongly implemented digital transformation since the beginning of 2024. It is known that in the past year, NCB continuously affirmed its competitiveness and new position with a series of milestones: being the first bank to deploy the feature of opening a bank payment account from the electronic identification application VNeID of the Ministry of Public Security, helping people have more simple, safe, and convenient options in transactions with banks...
Notably, surpassing nearly 380 domestic and international teams, NCB won the Encouragement Prize in its first participation in the Data for Life 2024 competition with a solution that is both deeply fundamental and highly applicable in a variety of social fields; For the second consecutive year, HR Asia Awards honored the “Best Workplace in Asia”; NCB iziBankbiz Digital Bank for corporate customers was honored in the Top 10 Trusted Vietnamese in Banking, Insurance, Securities, etc.
N.Nga
Source: VITIC/Tinnhanhchungkhoan