NCB hits 1 million customers, surpasses target for total assets

By the end of Q4/2023, NCB has managed to maintain stable operations, surpassing its annual target set at the 2023 Annual General Meeting with 1 million customers and a total asset of over 96,249 billion VND.



The National Commercial Bank (NCB) has announced its business results for the fourth quarter of 2023. In particular, customer growth, capital mobilization, and foreign exchange growth have continued to achieve outstanding results.

Specifically, amidst the context of the overall decrease in interest rates across the entire credit system, the total deposits of customers at NCB as of December 31, 2023, still reached over VND 76,850 billion, an increase of nearly VND 1,490 billion compared to the end of the third quarter of 2023 and an increase of VND 5,500 billion, equivalent to a growth rate of 7.7% compared to December 31, 2022.

Thanks to quickly seizing market opportunities and continuously innovating products and services, NCB’s foreign exchange operations and issuance of valuable documents have experienced strong growth. As of December 31, 2023, foreign exchange operations continued to be a bright spot with accumulated revenues in 2023 reaching nearly VND 202.5 billion, an increase of nearly 142% compared to 2022. The issuance of valuable documents at NCB grew by 59% compared to the end of 2022, reaching a value of nearly VND 3,167 billion. Mobilizing deposits from customers and issuing valuable documents not only brings positive revenues to the bank but also demonstrates the increasing trust of customers in NCB.

Moreover, NCB’s total assets at the end of 2023 reached nearly VND 96,249 billion, an increase of approximately 7% compared to the end of 2022 and surpassing the plan set at the Annual General Meeting held in April 2023.

Thanks to continuous innovation, upgrading of service quality, providing customers with high-quality banking experiences, and a series of attractive incentive programs, by the end of the fourth quarter of 2023, NCB successfully reached the milestone of 1 million customers as set out at the Annual General Meeting of Shareholders in 2023. NCB has also made strong investments in technology platforms, pioneering digital transformation and non-cash payment trends by launching and continuously upgrading NCB iziBankbiz for corporate customers and NCB iziMobile for individual customers.

In 2023, the accumulated net operating income of NCB reached over VND 719 billion. The bank’s operating safety indicators continue to be maintained and ensured within the limits prescribed by the State Bank of Vietnam. As of December 31, 2023, the liquidity reserve ratio reached 13.79%, demonstrating that the bank maintains a “liquidity buffer” with good resilience against market fluctuations.

It is known that 2023 is a significant year for NCB as the bank has undergone a strong transformation, comprehensively and resolutely restructuring with systematic steps, gradually leading NCB to become a healthy, safe, and sustainably developing bank. Accordingly, NCB has collaborated with leading partners in the financial-banking sector and joined forces with a world-class strategic consulting firm to build a new strategy that marks a turning point for NCB during the 2023-2028 period.

The resolute implementation of restructuring, complete staffing, enhancing operational capabilities, comprehensive product and process improvements, and the implementation of internal control system enhancement activities and risk management have helped NCB continuously improve its competitiveness and achieve encouraging results.

Currently, NCB possesses a team of highly experienced senior personnel with professional expertise and management capacity in the financial-banking market. A series of new personnel policies have been implemented, making NCB the first-time recipient of the “Best Place to Work in Asia” according to the assessment of HRAA – the leading prestigious award in the human resources field.

In parallel, NCB has been implementing comprehensive digital transformation projects, focusing on building a data platform, technology infrastructure, continuously upgrading and digitizing products and services, and enhancing customer experience. Recently, NCB has also been approved by the SBV to increase its charter capital to over VND 11,800 billion to supplement capital for business activities and strengthen the financial capacity of the bank for its strategic goals.

In the context of remaining difficulties in the economy, negative impacts on the financial health of businesses and customers in most operating sectors, the positive results mentioned above demonstrate NCB’s proactive and determined efforts in implementing restructuring solutions, promising strong development steps in the near future.

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