National Commercial Joint Stock Bank (NCB) has just announced business results for the fourth quarter of 2023. In particular, customer growth, capital mobilization and foreign exchange growth continued to achieve outstanding results.
Specifically, in the context of interest rates being adjusted downward across the entire system of credit institutions, total customer deposits at NCB as of December 31, 2023 still reached more than 76,850 billion VND, an increase of nearly 1,490 billion VND compared to the previous period. at the end of the third quarter and increased by VND 5,500 billion, equivalent to a growth of 7.7% compared to December 31, 2022.
Thanks to quickly seizing market opportunities and constantly innovating products and services, NCB’s foreign exchange business and valuable paper issuance have grown strongly. As of December 31, 2023, foreign exchange business activities continue to be a bright spot, achieving cumulative revenue in 2023 of nearly 202.5 billion VND, an increase of nearly 142% compared to 2022. Issuing valuable papers at NCB grows by 59% compared to the end of 2022, reaching a value of nearly VND 3,167 billion. Mobilizing from customer deposits and issuing valuable papers not only brings positive revenue to the bank but also shows that customers’ trust in NCB is increasing.
In particular, NCB’s total assets at the end of 2023 will reach nearly VND 96,249 billion, an increase of regarding 7% compared to the end of 2022 and exceeding the plan set at the Annual General Meeting of Shareholders held in April 2023.
Thanks to constantly innovating and upgrading the quality of products and services, providing customers with high-quality banking experiences and a series of attractive incentive programs, by the end of the fourth quarter of 2023, NCB has successfully completed milestone of 1 million customers according to the target set at the 2023 Annual General Meeting of Shareholders. NCB also invests heavily in technology platforms, pioneering in digital transformation and non-cash payment trends by put into operation and continuously upgrade digital banking NCB iziBankbiz for corporate customers and NCB iziMobile for individual customers.
Accumulated in 2023, total consolidated net operating income will reach more than 719 billion VND. NCB’s operational safety indicators continue to be maintained and ensure limits according to regulations of the State Bank. As of December 31, 2023, the liquidity reserve ratio reached 13.79%, showing that the bank is maintaining a “liquidity buffer” with good resistance to market fluctuations.
It is known that 2023 is an important year for NCB when the bank has had a strong transformation, implementing comprehensive and drastic restructuring with methodical steps, with the goal of gradually turning NCB into a leading company. A healthy, safe, and sustainable bank. Accordingly, NCB has cooperated with many leading partners in the field of finance and banking and joined hands with the world’s leading prestigious strategic consulting unit to build a new, landmark strategy for NCB in the period. period 2023-2028.
The drastic implementation of restructuring, strengthening the apparatus, improving operating capacity, comprehensively improving products and processes, implementing activities to strengthen the internal control system and risk management has resulted in helping NCB continuously improve its competitiveness and achieve encouraging results.
To date, NCB is one of the banks that owns a team of personnel, especially senior personnel with rich experience, professional capacity and management capacity in the financial and banking market. A series of new human resources policies were implemented, making NCB for the first time the “Best Place to Work in Asia” according to HRAA – the leading prestigious award in the field of human resources.
In parallel, NCB implements comprehensive digital transformation projects, focusing on building data platforms, technology infrastructure platforms, constantly upgrading and digitizing products and services, increasing experience. client. Recently, NCB was also approved by the State Bank of Vietnam to increase its charter capital to more than 11,800 billion VND to supplement capital for business activities and strengthen the bank’s financial capacity for its proposed strategic goals.
In a context where the economy still has many difficulties, negatively impacting the financial health of businesses and customers in most fields of activity, the above positive results have shown the initiative and NCB’s determination in implementing restructuring solutions promises strong developments in the coming time.