Nam A Commercial Joint Stock Bank (Nam A Bank) has just been approved by the State Bank of Vietnam (SBV) to establish four more branches to continue branding in key provinces and cities. This event is also a confirmation of the sustainable, stable and breakthrough development of Nam A Bank in the financial and banking market.
Specifically, Official Letter No. 8713 dated November 7, 2019 of SBV approved Nam A Bank to establish four branches in the provinces of Nghe An, Bac Lieu, Dong Thap and Binh Thuan. Nam A Bank is responsible for carrying out the procedures for opening operations for the approved branches. At the same time, these branches will be opened for operation within 12 months from the signing date of the written approval.
The establishment of these additional branches will help Nam A Bank increase its coverage, attract new customers, and meet the needs of modern financial products and services of customers in localities. This is also one of the clearest evidences for the Bank’s prestigious and effective operations and promises of a new breakthrough of Nam A Bank in the coming period. In fact, in order to be approved by SBV to set up new business units, Nam A Bank has fully met the stringent regulations on capital scale and high operational safety ratios, have good management system, and effective internal control.
Previously, the bank had just completed its network expansion plan when it put into operation 35 business units under the policy approved by SBV in October 2018. It can be said that Nam A Bank is only the unit in the past two years (in 2018 and 2019) approved by SBV approved to expand a series of business locations, from the North to the South. In 2019 alone, the bank has expanded by a quarter of its total number of existing networks. Thus, compared to the first days of operation (in 1992), Nam A Bank had only a few branches, so far it has spread to the key provinces and cities with more than 100 business units and total assets of 87.82 trillion dong.
Representative of Nam A Bank said: “Nam A Bank’s prestigious and stable business activities in the financial market have received the trust and support of SBV and numerous customers. To meet the number of customers, every day, Nam A Bank continued to put into operation a series of new points, in parallel with that, Nam A Bank always focused on investing and developing business units according to the 5-star standard service quality with luxurious design, modern facilities, and lots of green trees to bring the most perfect experience to customers”
In parallel with network expansion, Nam A Bank has enhanced “digitalisation” of products and services ecosystems by applying artificial intelligence (AI) and Big Data to upgrading products and services. Modern applications help Nam A Bank’s customers to transact quickly, securely and safely in just a few seconds. At the same time, it helps Nam A Bank improve its management capacity and reduce operational costs.
With 27 years of experience in building and developing, with the background, developing internal resources to create breakthroughs in technology and the trust and support of SBV and customers, Nam A Bank is confident to continue to make breakthroughs in the near future, contributing to early realisation of the objectives of the phase II restructuring process (2018-2020).
