National Citizen’s Bank (NCB) has just announced its business results for the first quarter of 2024. The bank’s core business activities showed many positive signs in the first phase of the new year.
Specifically, at the end of the first quarter of 2024, in the context of interest rates mobilized by the entire banking industry remaining at a low level, customer deposits of NCB still reached VND 80,160 billion, an increase of VND 3,300 billion higher than at the end of 2023, corresponding to an increase of 4.31%. Of which, deposits of individual customers reached over VND 74,500 billion, accounting for over 93% of total mobilization, showing that customers’ increase in confidence in NCB. Loans to customers by March 31, 2024 also reached VND 58,376 billion, a growth of 5.2%.
As a result, NCB’s net interest income in the first quarter of 2024 increased sharply compared to the result at the end of the fourth quarter of 2023, reaching over VND 221.6 billion. Net income from service activities also increased, reaching over VND 6.1 billion. NCB’s foreign exchange and securities trading business continued to be a bright spot, with net income reaching over VND 24.2 billion and VND 68.5 billion, respectively.
NCB’s total assets as of March 31, 2014 reached over VND 96,400 billion, a slight increase compared to the end of 2023. NCB’s operating safety ratios continued to be maintained and ensured within the limits prescribed by the State Bank. As of March 31, 2024, the liquidity reserve ratio reached 14.06%, indicating that the bank is maintaining a very good “liquidity cushion” compared to the general level.
This positive result is thanks to NCB’s continuous efforts in constantly innovating, upgrading the quality of products and services, bringing customers high-quality banking experiences over the years.
NCB Bank’s core business activities showed many positive signs in the first phase of the new year.
With the motto “customer centric”, many new financial solutions are safe, flexible, and innovative to suit the needs and tastes of customers with attractive sales policies are constantly being launched by NCB, such as: free account opening feature by nickname on the digital bank; bill sharing feature that is especially useful for shop owners, withdrawing cash at ATMs without a physical card; opening new debit cards and virtual credit cards online in just 1 minute; super preferential loan packages for buying, building, and repairing real estate, business loans; supporting manufacturing businesses with attractive incentives;… As a result, NCB is increasingly being chosen by customers.
It is known that on April 13, NCB successfully organized the Annual General Meeting of Shareholders. Accordingly, the General Meeting approved the business plan for 2024, at the same time, continued to assign the Bank’s Board of Directors to implement the plan to increase charter capital by another VND 6,200 billion, increase financial resources to promote business activities and comprehensively restructure the bank under the restructuring plan approved by the State Bank.
In 2024, NCB aims to achieve VND 105,892 billion in total assets and is determined to increase its customer base by 15% by the end of 2024, reaching 1.15 million customers. The bank also said that it will be determined to commit all resources to continue implementing the next phases of the new strategy and digital transformation project. It is expected that by the end of 2024, NCB will launch the first mixed asset management solution with outstanding and unprecedented features in the Vietnamese market. NCB is also constantly improving the digital experience, aiming for a new look for the Mobile App with a new interface, unique features that are the first time ever in the market.
In the context of the economy facing many difficulties, negatively affecting the financial health of businesses and customers in most fields of operation, the above positive results have shown NCB’s proactiveness and determination in implementing restructuring solutions, promising strong development steps in the near future.
