Nam A Bank approved to open 35 transaction offices

19-Mar-2019 Intellasia | NDO | 6:00 AM Print This Post

Nam A Commercial Joint Stock Bank (Nam A Bank) has been approved by the State Bank of Vietnam to open 35 new transaction offices under the restructuring project’s second phase (2018-2020) and has been appointed to participate in restructuring three people’s credit funds in Dong Nai province.

In addition, credit ratings agency Moody’s Investors Service has assigned its first ratings and assessment for Vietnam’s Nam A Bank, giving it a B2 stable outlook.

The information was given in Official Letter No. 187/2019/ CV-NHNA-01 dated March 15, 2019.

Accordingly, as of December 31, 2018, Nam A Bank’s total assets reached VND75,000 billion, growing nearly 40 percent compared to 2017, reaching 114 percent of the plan; profit reached VND750 billion, nearly double compared to 2017 and reached 230 percent of the plan; and the number of customers reached nearly 450,000, doubling that of 2017.

In addition, before the information related to stock disputes between shareholders, Nam A Bank affirmed that the disputes (if any) are completely civil relations between shareholders, not related to the business activities of Nam A Banka public company operating publicly, transparently and strictly complying with the current legal regulations.


Category: Finance, Vietnam

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