The State Bank approves plan to increase the capital of the State Bank to over VND11.8 trillion

Vietnam Stocks – SBV approves plan to increase NCB capital to over VND11.8 trillion

The State Bank (SBV) has just approved the capital increase of the National Commercial Joint Stock Bank (NCB). Therefore, NCB is allowed to issue individual shares to increase its registered capital up to VND6.2 trillion.

The plan to increase registered capital was approved by NCB’s 2023 annual shareholders’ meeting in April 2023 and was implemented by NCB’s board of directors in accordance with regulations. The purpose of issuing additional shares and increasing registered capital is to supplement operating capital and enhance the bank’s financial capabilities.

Accordingly, NCB Bank will issue and sell 620 million shares at a price of VND10,000 per share to increase its registered capital by VND6.2 trillion. If the issuance is successful, NCB’s registered capital will increase from VND 5,602 billion to VND 11,802 billion.

According to the plan, NCB will issue shares as soon as it obtains approval from the State Securities Regulatory Commission (expected in the second quarter of 2024). The transfer period of these shares is within one year from the date of completion of this issuance.

NCB is responsible for increasing its registered capital in accordance with the law and notifying investors who purchase NCB shares in writing to fully perform shareholder obligations in accordance with Articles 54 and 54. 55 Notice No. 50 of the Credit Institutions Law/2018/TT-NHNN of the Governor of the State Bank of Vietnam on December 31, 2018 and other relevant legal documents.

This increase in registered capital is a positive signal and provides important assistance to NCB’s comprehensive and powerful transformation and the realization of the bank’s strategic goals. Especially in the context of NCB constantly improving its technology platform, serving comprehensive digital goals, investing in solutions, products, and services to add value to customers, and joining hands with consulting institutions, it will aggressively implement the new strategy from 2023 to 2028 with a world-leading strategy. period.

2023 is the year of strong transformation for National Commercial Bank, with comprehensive innovation in appearance and internal strength. While many professionals with rich expertise and experience in the financial banking industry participate in the integrated organization, NCB also invests in building data and platform platforms and technology infrastructure to launch comprehensive digital products and improve customer experience. Currently, NCB has upgraded its T24 core banking system to the most modern R21 version on the market, improving user service speed and strengthening internal management and operations. Continuously deploy digital transformation projects to help customers obtain a smoother and more convenient experience, such as upgrading the core card system, applying the eKYC process to open accounts, and withdrawing money from ATMs without physical cards…

In August 2023, NCB opened a new headquarters in a prime location in the capital of Hanoi. The Bank also focuses on creating a working environment with the best conditions and welfare systems for talent development, and won the “Best Companies to Work for in Asia 2023” at the Asian Human Resources Awards.

NCB’s transformation brings many positive signs. In 2023, the bank recorded its fastest customer growth rate in recent years. According to statistics, the number of customers of NCB increased by more than 33% in the first nine months of this year compared with the same period last year. The bank is also on target to reach 1 million customers by 2023. As of the end of the third quarter of 2023, the total amount of funds mobilized by NCB customer deposits increased by nearly 5 trillion VND compared with the end of the previous quarter, and increased by more than 4 trillion VND compared with the end of 2022. These results show confidence. Increase customer satisfaction with NCB’s stable, transparent and developed operations.

The addition of financial resources also demonstrates the bank’s determination and powerful actions in its restructuring and comprehensive transformation journey. At the same time, it also affirms the increasing market competitiveness of China Southern Commercial Bank and its readiness to achieve breakthroughs in the coming period.