NCB to raise total assets to $4.2 billion

Friday, Apr 28, 2017 14:30

Customers at a NCB branch office in Ha Noi. — File Photo

The National Citizen Joint Stock Commercial Bank (NCB) will raise total value of its assets to VND95 trillion (US$4.2 billion) in 2017, up nearly 40 per cent from last year.

This was stated at its shareholders meeting on Thursday.

The bank’s net revenue is expected to reach VND350 billion, up 60 per cent against the previous year. Bad debt rate has been kept at below three per cent.

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, who are interested in adding VND3 trillion more to NCB’s charter capital.

In 2016, NCB introduced a development strategy for the 2016-20 period and performed impressively.

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

NCB’s report showed that the bank’s total assets were valued at VND70 trillion ($3.1 billion) in 2016, registering a growth of 43 per cent against 2015.

Capital mobilisation and lending recorded high growth, hitting over VND18.5 trillion and VND8.9 trillion, respectively.

The bank’s 2016 revenue reached VND211 billion, 91 per cent higher than 2015. The quality of the balance sheet improved and the rate of bad debt stood at below three per cent.

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

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