NCB posts 90% increase in profit

Thursday, Feb 02, 2017 08:23

National Commercial Bank posts positive results in the year of 2016 after its restructuring. — Photo
National Commercial Bank (NCB) in 2016 posted net profit of VND210 billion, increasing 90.9 per cent from the previous year and five times higher than before its restructure in 2013.

NCB has announced its business results for 2016, reflecting a high and positive growth rate.

By the end of last year, the bank’s total assets were VND69 trillion, a 43 per cent year-on-year increase and 2.5 times higher in comparison with the period before its restructure.

Last year, its capital mobilisation rose by 25 per cent to reach VND42.7 trillion, which was 2.3 times higher than that of 2013. NCB’s total lending in 2016 was 24 per cent more than 2015, reaching VND25.3 trillion. Its bad debt rate was less than 2.07 per cent, reducing by three times following its restructuring.

“NCB has rapidly become one of the banks with high growth rate in profit from one of nine banks which were listed as weak and required restructuring,” the bank said.

The bank has focused on niche markets with individual customers and small-and-medium sized enterprises instead of the large firms segment.

In 2016, NCB successfully implemented the change of its core banking system, which is a pre-condition for modernisation. The system has helped the bank improve its ability to offer multi services, simplifying and closely controlling professionals as well as managing customers’ information.

Navibank was renamed NCB follow its self-restructuring in 2014. — VNS 



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