AsemconnectVietnam - The State Bank has just approved the capital increase of the National Commercial Joint Stock Bank (NCB - stock code NVB). Accordingly, NCB is allowed to issue individual shares to increase its charter capital by a maximum of VND6,200 billion.

The plan to increase charter capital was approved by NCB's 2023 Annual General Meeting of Shareholders in April 2023 and implemented by NCB's Board of Directors according to regulations. The purpose of offering additional shares and increasing charter capital is to supplement capital for business activities and strengthen the bank's financial capacity.
Accordingly, NCB Bank will issue and offer for sale 620 million shares at a price of 10,000 VND/share, to increase its charter capital by VND6,200 billion. If the issuance is successful, NCB's charter capital will increase from VND5,602 billion to VND11,802 billion.
According to the plan, NCB will issue the shares immediately after being approved by the State Securities Commission (expected in the second quarter of 2024). The transfer of these shares is restricted within 01 year from the date of completion of the offering.
NCB is responsible for increasing its charter capital in accordance with the law and notifying in writing investors purchasing shares of NCB to fully fulfill shareholder obligations in accordance with the provisions of Article 54, Article 54. 55 Law on Credit Institutions, Circular No.50/2018/TT-NHNN dated December 31, 2018 of the Governor of the State Bank of Vietnam and other relevant legal documents.
The increase in charter capital is a positive signal, creating an important boost for NCB's comprehensive and strong transformation process, towards the bank's strategic goals. Especially in the context that NCB is constantly improving its technology platform to serve the goal of comprehensive digitalization, investing in solutions, products, services, adding value to customers and joining hands with consulting organizations. The world's leading strategy drastically implements the new strategy for the period 2023 - 2028.
The year 2023 marks a strong transformation of National Citizen Commercial Joint Stock Bank (NCB) with comprehensive innovation in both appearance and internal strength. In parallel with consolidating the apparatus with the participation of many dedicated personnel with extensive expertise and experience in the Finance - Banking industry, NCB also invests in building a data and technology infrastructure platform to launch comprehensive digital products and increase customer experience. Currently, NCB has upgraded the T24 core banking system to the most modern R21 version on the market, increasing user service speed and strengthening internal management and operations. Digital transformation projects are continuously deployed to help customers have a smoother and more convenient experience such as: upgrading the card core system, applying eKYC process to open accounts, withdrawing money without a physical card at ATM…
In August 2023, NCB opened a new headquarters located in a prime location in Hanoi Capital. The bank also focuses on building a working environment with the best conditions and welfare regimes for the development of personnel, and was honored by the HR Asia Awards as "Best Place to Work in Asia 2023" (The Best Companies to Work for in Asia 2023).
NCB's transformations have brought many positive signs. In 2023, the bank recorded the fastest customer growth rate in the past few years. According to statistics, the number of customers at NCB in the first 9 months of the year increased by more than 33% compared to the same period last year. The bank has also reached 1 million customers in 2023 according to the set target. By the end of the third quarter of 2023, total capital mobilization from customer deposits at NCB increased by nearly VND5,000 billion compared to the end of the previous quarter and increased by more than VND4,000 billion compared to the end of 2022. These results show the increasing trust of customer on NCB's stable, transparent and developed operations.
The addition of financial resources also demonstrates the bank's determination and strong actions in the journey of restructuring and comprehensive transformation. At the same time, it affirms NCB's increasing competitiveness in the market and NCB's readiness for a breakthrough in the coming period.
N.Nga
Source: VITIC/Tinnhanhchungkhoan