This is the only stock approved by HoSE for listing in 2023 from the banking sector, one of the largest capitalized sectors in the market today. Therefore, along with NAB, there are currently 18 banks listed on the largest stock exchange in Vietnam.
Chairman of Nam A Bank – Mr. Tran Ngo Phuc Vu – performing the drumming ceremony, signaling the start of the official trading hours of NAB stocks
On the listing day, the reference price of NAB stock is VND 15,900 per share with a trading range of +/- 20% from the reference price. With over 1 billion shares listed, the corresponding market capitalization upon listing reaches nearly VND 17.000 trillion. At the closing of the last trading session of NAB on UPCoM on February 29 before transferring to HoSE, the stock price of Nam A Bank reached VND 16,500 per share.
Just after 30 minutes of trading, NAB stock price traded at VND 17,000 per share, an increase of nearly 7% compared to the reference price.
HoSE, with its position as the largest and most developed exchange in Vietnam, the listing of public companies in general and NAB in particular is necessary in the development process. This contributes significantly to improving the market capitalization and liquidity, creating attractiveness and potential opportunities for large domestic and international investors. It also creates favorable conditions for attracting investment capital and expanding business operations, increasing value for shareholders and sustainable development of the bank.
Nam A Bank representative said: “With over 1 billion NAB shares officially trading on HoSE, it will open up opportunities to access potential investors, capital sources … creating strong motivation for the growth of Nam A Bank in the future. The bank will continue to implement many important strategies with two main pillars being green banking and digital banking to ensure business goals, bring even greater value to shareholders, customers, and partners”.
Mr. Tran Ngoc Tam – General Director of Nam A Bank speaking at the event
According to the 2023 business result report, Nam A Bank’s pre-tax profit reached over VND 3,300 billion, a 50% increase compared to the same period in 2022, ranking in the top 12 fastest-growing banks. The bad debt ratio is tightly controlled according to the regulations of the State Bank. In addition, the total assets reached over VND 210,000 billion, an increase of over 18% compared to the beginning of the year, entering the group of 20 banks with the largest total assets in the system. Other important indicators such as raising capital reached nearly VND 164,000 billion, an increase of nearly 19.3% compared to the beginning of the year, outstanding loans reached nearly VND 142,000 billion, an increase of over 16.3% compared to the beginning of the year.
Nam A Bank sets a target of total assets reaching VND 232.000 billion in 2024 (VND 260.000 billion in 2025), raised funds reaching VND 178.000 billion (VND 202.000 billion in 2025), customer loans reaching VND 181.000 billion. Among them, focus on supporting 5 priority sectors according to the direction of the State Bank: green credits, export support, sustainable agriculture, circular economy. 2024 pre-tax profit is projected to reach VND 4,000 billion and VND 5,000 billion in 2025. The ROA and ROE rates are above 1.4% and at least 20%.
Regarding the capital increase plan, it is expected that by the end of 2024, the charter capital will reach about VND 13,000 billion and the target for 2025, the charter capital will reach about VND 16,200 billion.
“Although the market still faces many challenges, with a solid foundation, we are committed to continuing to innovate activities, enhance competitive capacity to ensure sustainable growth of NAB stock value, shareholders’ rights are always guaranteed, maintain transparency,, public , and standards in management and operation to make NAB stocks one of the quality choices for investors both inside and outside the country” – Nam A Bank leader said at the important event on March 8, 2024.
