NCB to increase capital by VND1.5 trillion in Q4

14-Oct-2021 Intellasia | Nhip song Kinh te | 5:53 AM Print This Post

By the end of the third quarter (Q3) of 2021, National Citizen Commercial Joint Stock Bank (NCB, HNX: NVB) achieved positive business results with a sharp increase in after-tax profit compared to the same period. The bank’s bad debt ratio was 1.9%.

As of September 30th 2021, the total assets of NCB were over 81 trillion dong, net interest income rose by 25 percent year-on-year thanks to the growth of outstanding credit to customers as well as the strengthening of the bad debt settlement and recovery. Other activities also contributed positively to the bank’s profit such as income from service activities, trading of investment securities, etc.

Along with promoting business activities, risk control measures were also strictly implemented by NCB. The good results of the activities of risk management and bad debt handling have helped the bank maintain its bad debt ratio at 1.9%.

According to a representative of NCB’s leader board, various flexible business measures, risk management and operational efficiency improvement have brought NCB a stable profit result in Q3. The income from interests was no longer the driving force of NCB in Q3. Instead, NCB has increased revenue from service activities. Particularly, the digital products and services that the bank has deployed since 2020 and Q1/2021 have helped the bank raised its income.

In Q2 and Q3 of 2021, the Covid-19 epidemic continued to have complicated developments and negatively affected the economy in general and NCB’s customers in particular. NCB has implemented many supporting programmes for customers affected by the epidemic, such as reducing interest rates by 0.5 percent to two percent for customers, rescheduling debts, exempting fees for many services, etc. NCB has actively supported more than 1,000 customers, equivalent to a total outstanding credit of about 9.7 trillion dong. these supporting measures have been implemented simultaneously for both existing and new customers, individual and corporate customers hit by the Covid-19 epidemic.

NCB’s leader said that the application of policies to offer preferential interest rates and lower lending interest rates has a certain influence on the bank’s interest income, but from now until the end of the year, NCB will continue to share difficulties with customers, and support existing and new customers through reducing loan interest rates.

NCB will increase capital by 1.5 trillion dong in Q4 to improve financial capacity and carry out key plans such as investing in facilities and technology, improving operational quality, diversifying products and services, etc.

The digital transformation process aggressively deployed by NCB aims to bring maximum benefits to customers, reduce operating costs, and improve competitiveness. In the coming time, NCB will upgrade digital banking for individuals and businesses. With a modern technology platform, the bank will bring convenience and added value, helping to optimise the benefits of customers when transacting.

Digital products and services developed by NCB have made the online payment experience of customers easy and convenient. Customers can easily open accounts, cards, make service payments, deposit online, transfer money, etc. and other 24/7 banking services anywhere, without the need to go to the bank, limiting direct contact with bank staff. NCB’s leading technologies have actively contributed to promoting access to banking products and services to users and promote the movement to build a cashless society.

In addition, NCB has continuously implemented incentive programmes for customers to transact through digitised services in order to encourage customers to make convenient and safe transactions during the epidemic period such as exempting all money transfer fees via NCB iziMobile and internet banking, launching new chip cards for online shopping, etc.

 

Category: Finance, Vietnam

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