Unlocking NCB’s Future: Embracing Dynamic Targets for 2025 and Beyond

30 March, 2025

At the General Meeting, the Board of Directors (BOD) and Executive Committee of NCB presented business performance reports, as well as reports on the activities of the BOD and Supervisory Board (SB) for 2024. They also presented the plan for 2025 and proposed a plan to increase the charter capital, among other agenda items.

2025 Annual General Meeting of NCB

For 2025, NCB aims to boost its business operations and gradually build an efficient and sustainable bank.

According to the reports presented by the BOD and the General Director of NCB, 2024 marked a significant leap in the bank’s business performance, with all targets set by the Annual General Meeting (AGM) successfully achieved and exceeded. Specifically, total assets reached VND 118,559 billion, equivalent to 112% of the plan. Total loan balance stood at VND 71,175 billion, equivalent to 111% of the plan, while capital mobilization from the population reached VND 100,489 billion, equivalent to 117% of the plan. CASA growth of 54% compared to 2024 contributed to optimizing capital costs.

By the end of 2024, NCB’s customer base reached 1.346 million, equivalent to 117% of the annual plan and a 34.6% increase compared to the end of 2023. The number of users of the iziMobile digital banking application also increased significantly, reaching 107% of the plan. These consecutive positive growth figures demonstrate that the quality of NCB’s products and services is increasingly meeting the high standards and preferences of the market, gaining customer trust and choice.

This also proves the right direction and determined actions of the bank’s leadership and employees in choosing to implement the comprehensive restructuring goal alongside the new strategy, despite the challenges and difficulties in the market. This approach has gradually positioned NCB as one of the reputable, safe, and effective banks, contributing to the sustainable development of the community it serves.

Building on this momentum, for 2025, NCB presented to the AGM a business plan with total assets of VND 135,500 billion, customer mobilization of VND 118,500 billion, and a loan balance of VND 92,528 billion, representing growth rates of 14.6%, 23.2%, and 30%, respectively, compared to 2024. NCB also targets pre-provision operating profit of VND 59 billion and commits to using all profits to implement the approved PACCL. In addition, the bank aims to increase its customer base by 424,000 compared to 2024.

Chairwoman Bui Thi Thanh Huong speaking at the General Meeting

To achieve these results, NCB will offer tailored financial solutions for individual and corporate customer segments. The focus will be on individual customers in large cities with upper-middle to high incomes, as well as customers within the ecosystem of large enterprises and partners. At the same time, NCB will maintain existing customer acquisition and retention policies while prioritizing the expansion of the SME segment, targeting high-tech production, import-export, renewable energy, and construction enterprises. The bank will also strengthen capital mobilization from investment funds, FDI enterprises, and companies in logistics, tourism, and education sectors.

Notably, in 2025, NCB will aggressively implement its digital transformation strategy by building a robust technology platform and resources in line with its new strategy. The launch of the AllRise super digital banking application, a strategic product for Digital Wealth, marks a significant milestone in the realization of this new strategy. The application is expected to become the “propulsion engine” for NCB to accelerate its journey in developing innovative products and services based on cutting-edge technology, elevating the bank’s position in the digital finance landscape.

At the conclusion of the General Meeting, the reports of the BOD and General Director, the plan for 2025, the 2024 financial statements, and a series of other proposals were approved by the AGM with an almost absolute majority.

Increasing charter capital by an additional VND 7,500 billion

At this General Meeting, the Board of Directors also presented to the shareholders a plan to further increase the charter capital by VND 7,500 billion through a private placement of 700 million shares, equivalent to 59.42% of NCB’s charter capital at the time of the offering, with an offering price of not less than VND 10,000 per share.

The expected timing for the issuance is from the second to the fourth quarter of 2025, after obtaining the approval for capital increase from the State Bank of Vietnam (SBV) and the notice of receipt of the private placement registration dossier from the State Securities Commission of Vietnam.

Upon completion of this capital increase, NCB’s charter capital will increase from the current VND 11,780 billion to VND 19,280 billion. The proceeds from the offering, estimated at VND 7,500 billion, will be used to supplement the bank’s capital for business activities.

The Presidium shares with shareholders at the General Meeting

Speaking at the General Meeting, the Chairwoman of the Board of Directors of NCB shared that charter capital is one of the critical criteria for enhancing the bank’s financial autonomy, ensuring safe operations, and supporting sustainable development in the future.

“NCB has gathered the necessary energies and is ready to create differences, innovations, and breakthroughs in the era of national advancement. We are committed to investing all our resources to meet the new journey’s demands, accelerating the implementation of the Restructuring Plan for the 2023-2025 period, with a vision towards 2030, and deploying the new strategy with pioneering steps in the financial and banking market,” said Ms. Bui Thi Thanh Huong, Chairwoman of the Board of Directors.

The proposal to increase capital was approved by the AGM with a rate of 99.99%. Previously, on November 26, 2024, NCB successfully completed a capital increase, raising its charter capital to VND 11,780 billion, enhancing the bank’s financial capacity to achieve new goals.

NCB has transformed strongly in the past time

In the 2021-2025 period, the BOD and SB of NCB have continuously improved the management apparatus and enhanced governance capabilities to meet the development requirements and business strategy of the bank. With the addition of experienced and competent senior personnel in management and administration, NCB is poised to continue making significant strides in the future.

– 13:06 29/03/2025