Thursday, May 25, 2017 - 19:35:33

NCB to raise total asset to 4.18 bln USD

VNA Print

 
Illustrative image (Source: cafef.vn)

Hanoi (VNA) – The National Citizen Joint Stock Commercial Bank (NCB) has set to raise total value of its asset to 95 trillion VND (4.18 billion USD) in 2017, up nearly 40 percent from last year, heard a shareholders meeting on April 27.

The bank’s net revenue is expected to hit 350 billion VND (15.4 million USD), up 60 percent against the last year, the bad debt rate is kept at below 3 percent.  

This year, NCB will focus on improving its business model, enhancing risk management capacity, and expanding customer and partner ecosystems.

It will select foreign strategic shareholders among its partners, which are interested in adding 3 trillion VND more to NCB’s charter capital.

Last year, NCB started a development strategy for the 2016-2020 period and made impressive performance.

The State Bank has approved NCB’s plan to open six more transaction points.

NCB’s report shows that the bank’s total asset was valued at 70 trillion VND (3.08 billion USD) in 2016, registered growth of 43 percent against 2015.

Capital mobilisation and lending recorded high growth, hitting over 18,467 billion VND (812.5 million USD) and 8,937 billion VND (393.2 million USD), respectively.

The bank’s 2016 revenue reached 211 billion VND (over 9.28 million USD), 91 percent high than 2015. The quality of balance sheet has been improved and the rate of bad debt stood at below 3 percent.

NCB, established in 1995, started off as a bank for the agricultural sector before transforming into a commercial bank in 2014.

It was named the “Most Innovative Retail Bank Vietnam 2015” and “Most Innovative Bank for Enterprise Culture Vietnam 2015” by the UK-based Global Banking and Finance Review.-VNA
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