On April 26, National Citizen Bank (NCB) successfully organised the 2019 annual general meeting at its headquarters at 28C-D Ba Trieu Street in Hanoi’s Hoan Kiem District.
The event was attended by representatives of the State Bank of Vietnam, the board of directors, the management board, the board of controllers, shareholders and staff of the bank.
Shareholders of NCB passed the 2018 financial statement and the 2019 strategy, including a share issuance plan to scale up capital and a restructuring scheme.
In 2018, amid economic challenges at home and aboard, leaders of NCB applied flexible and appropriate management solutions to fulfill important targets and ensure safe and effective operations. The success was also attributed to the solidarity and effort of the bank’s employees.
Sticking to goals set for the 2016-2020 period, namely Effectiveness, Sustainability, Breakthrough, NCB obtained positive financial results in 2018 with revenue of over VND224 billion and pre-tax profit soaring compared to 2017.
Most segments such as service and fee saw high growth rates at around 40 percent. Ending last year, NCB’s total assets reached over VND72 trillion.
The bank’s mobilisation increased nearly VND5 trillion to over VND56 trillion, while lending rose VND3 trillion to over VND35 trillion. The quality of its balance sheet was improved and the bad debt ratio was under control as per regulations of the central bank.
NCB’s strategic productscredit programmes for car and house purchase and personal spending, and financial consultancy for small and medium-sized enterprisescontinued to grow strongly and made significant contribution to the overall earnings.
Notably, the NCB Smart digital banking model was upgraded with a new and friendly interface, attracting 19,238 users, up 195 percent against 2017. Further, NCB expanded facilities and services such as e-banking and VNPayment portal. As a result, its online transaction value soared 58 percent at VND10.591 trillion.
The orientation to become an effective retail bank with leading e-banking application and smart financial consulting model was affirmed as NCB repeatedly won valuable awards, including the Vietnam Strong Brand for the fourth consecutive year granted by Thoi bao Kinh te Vietnam, the Top 50 famous Vietnamese brands by Vietnam Intellectual Property Association, Top 500 Vietnam’s largest enterprises by Vietnam Report, and the best workplace in Vietnam in 2018 by Global Business Outlook Magazine.
This year, the local economy is projected to see better movements than in 2018, but the banking system is still facing numerous difficulties.
To sustain achievements in previous years and maintain rapid growth rate, NCB will continue operation in accordance with the guidance and fiscal-monetary policies of the government and the State Bank of Vietnam to contribute to socioeconomic development of the country and meet capital demand of enterprises.
Especially, the lender will speed up share issuance and cooperation with strategic investors, facilitating capital hike as per plans approved by the central bank.
Speaking at the meeting, a representative of the State Bank of Vietnam said: “As the representative of a State agency, I acknowledge and appreciate the efforts of NCB in developing safe, efficient and policy compliance business activities. I believe the bank will continue its strong development in the future.”
The meeting ended in success thanks to the unanimity of shareholders. In the coming time, NCB will continue to stick to its orientationoperating safely and sustainably and expanding market share by diversifying products and customer ecosystemto a become a friendly, effective and convenient retail bank in tandem with its motto”Your bank.”
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