Before the news of shareholder disputes that caught the attention of the public in recent times, Nam A Commercial Joint Stock Bank (Nam A Bank) said the internal dispute of Nguyen Chan and Nguyen Quoc Toan arose after Tu Huong lost her civil dispute about Nam A Bank stock, not related to banking activities.
Specifically, according to the bank, it has just received information about the investigating agency’s decision to prosecute a case related to the inheritance dispute of the family Nguyen Chan (96 years) and Nguyen Quoc Toan (Chair of Nam A Bank’s Board of directors, son of Nguyen Chan).
Nam A Bank affirmed that this dispute had been going on for many years within the family of Nguyen Chan and Nguyen Quoc Toan after the businesswoman Tu Huong (founding shareholder of Nam A Bank, the wife of Nguyen Chan) passed away.
These are civil disputes over Nam A Bank shares, completely unrelated to the operation of Nam A Banka public enterprise that operates publicly, transparently and in absolute compliance with the current legal regulations.
In order to focus on dealing with internal family property disputes, Nguyen Quoc Toan will resign from the position of chair of the Board of directors and authorise Tran Ngo Phuc Vu, Standing vice President, to be responsible to handle all jobs related to Nam A Bank, to avoid affecting the Bank’s operations as well as the customers’ interests.
Tran Ngo Phuc Vu previously worked as general director of Nam A Bank in the period of 2013-2015 and has served as vice President in charge of this bank’s personnel and strategy from 2015 until now.
Amid these disputes, Nam A Bank still has a stable growth and successfully conquered the business plan. Specifically, in the first five months of 2019, profit before tax was 426 billion dong, fulfilling 53 percent of the plan for 2019. Total assets reached nearly 80 trillion dong, completing 93 percent of the annual plan.
Mobilising capital from economic organisations and individuals almost reached 64 trillion dong, completing nearly 90 percent of the year plan. Loans outstanding reached more than 55 trillion dong, accounting for 92 percent of the year plan. Non-performance loan (NPL) ratio continued to be well controlled, only at 1.85 percent. At the same time, the operational safety indicators are still in compliance with the regulations of the State Bank of Vietnam (SBV).
At the same time, Nam A Bank has opened and put into operation 17 new business units, increasing the trading network to 87 points and is expected to continue to increase to 105 points in the near future.
At the end of 2018, Nam A Bank was also awarded the B2 grade certificate by Moody international credit rating organisation. This is the clearest evidence for the transparency, standards, safety and efficiency that Nam A Bank brand has been aiming at and is a solid premise to achieve the strategic objectives in The project of phase 2 restructuring (2018-2020) previously approved by SBV.
Ending the first quarter of 2019, Nam A Bank recorded total assets of over 75 trillion dong, up 32 percent over the same period; credit outstanding was about 54 trillion dong and mobilised more than 60 trillion dongan increase of 6.3 percent compared to the beginning of the year and nearly 40 percent over the same period. Profit before tax reached 300 billion dong, doubling the same period and reaching 38 percent of the year profit plan.
