Nam Á Bank to cancel listing on UpCOM on Feb 29

Thursday, Feb 22, 2024 14:17

Customers conduct transactions at a branch of Nam Á Bank. — Photo

The Hà Nội Stock Exchange (HNX) has recently announced its decision to cancel the trading registration of over 1.06 billion shares of Nam Á Commercial Joint Stock Bank (NAB) starting on February 29.

February 28 is the last trading day for NAB shares on the UPCoM.

The reason for the delisting is that the entire 1.06 billion NAB shares have been approved for listing on the Hồ Chí Minh Stock Exchange (HoSE) with the first trading day scheduled for March 8.

Nam Á Bank was the only bank approved by HoSE to register its shares for listing in 2023.

The bank’s Board of Directors also passed a resolution to terminate the registration of stock trading on the UPCoM market at HNX and approve the first trading day scheduled to take place on the HoSE.

On the stock market, NAB shares traded at VNĐ16,600 a share (US$0.68) at 13:34 local time on Wednesday, up nearly 110 per cent from the beginning of 2023.

Regarding its financial performance, Nam Á Bank has released its business results for the year 2023, with its primary revenue source being net interest income, reaching over VNĐ6.6 trillion. The amount increased nearly 30 per cent year-on-year.

Last year, the bank allocated a credit risk provision of VNĐ847 billion, approximately the same as the previous year. After deducting expenses and taxes, the bank achieved a profit after tax of more than VNĐ2.6 trillion, representing a 45 per cent gain from its performance in 2022.

By the end of 2023, Nam Á Bank's total assets had grown by 18 per cent since the beginning of the year to nearly VNĐ210 trillion. Of which, customer loans accounted for over VNĐ141.4 trillion, reflecting an 18 per cent increase.

In terms of loan quality, its non-performing loans amounted to nearly VNĐ3 trillion, a significant surge of nearly 54 per cent compared to the start of the year. — VNS

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