As the only bank in the banking system to have its shares listed on HoSE in the past 6 months, Nam A Bank continues to affirm its sustainable development with positive operating results. In particular, pre-tax profit in the first 6 months of 2024 broke through, reaching more than VND 2,200 billion (completing more than 55% of the 2024 plan), total assets of Nam A Bank reached more than VND 228,000 billion (completing 98.7% of the 2024 plan), safety indicators on operations exceeded the regulations of the State Bank...
Specifically, Nam A Bank's pre-tax profit in the first 6 months of 2024 reached VND 2,217 billion (up 45.4% over the same period in 2023, completing 55.4% of the 2024 plan). As of June 30, 2024, Nam A Bank's total assets reached more than VND 228,000 billion (up 14.3% over the same period in 2023, completing 98.7% of the 2024 plan).
Capital mobilized from residents and economic organizations grew well, reaching nearly VND 173,000 billion (up more than 9.4% over the same period in 2023, completing 97.1% of the 2024 plan). Outstanding customer loans grew in line with the credit growth limit licensed by the State Bank, reaching nearly VND 157,000 trillion (up 21.2% over the same period in 2023)...
Notably, this is the second consecutive quarter that Nam A Bank has recorded a profit of more than VND 1,000 billion/quarter. Of which, net interest income increased by VND 834 billion, equivalent to an increase of 27% compared to the same period in 2023.
The positive point is that Nam A Bank's NIM grew well at 3.7% in the context of narrowing interest rate margins for customer deposits and loans, thanks to optimal solutions for profit-generating asset structure and mobilization structure.
NAB's cost/total operating income ratio (CIR) in the second quarter of 2024 has improved effectively, with the second quarter CIR approaching 40% - the lowest level in the past 5 years.
For many years, Nam A Bank has been strongly transforming digitally as well as expanding its operations across provinces and cities nationwide. Although operating costs have increased, CIR has gradually improved over the years.
Moreover, Nam A Bank complies with liquidity indicators, completing the implementation of risk management standards according to Basel III standards. Capital adequacy ratio CAR reached over 11.38% (minimum as prescribed by the State Bank is 8%). Loan to deposit ratio LDR reached 76.06% (maximum as prescribed by the State Bank is 85%). Liquidity reserve ratio LCR 17.35% (minimum as prescribed by the State Bank is 10%). 30-day VND solvency ratio reached over 73.41% (minimum as prescribed by the State Bank is 50%). Short-term capital ratio for medium and long-term loans was 14.13% (maximum as prescribed by the State Bank is under 30%). Nam A Bank still maintains a stable and safe liquidity strategy. Bad debt is well controlled according to State Bank regulations (down 0.15 percentage points compared to the same period in 2023).
In the first and second quarters, Nam A Bank has made many important marks in the market such as: Moody's upgraded Nam A Bank's credit rating in 2 categories: asset quality from B3 to B2 and profit and profitability indexes from B2 to B1, and rated the issuing organization with a "stable" outlook. Developing green credit is one of the key activities that Nam A Bank actively implemented and completed the handover of the ESMS environmental and social risk management system with Pacific Risk Advisors LTD (PRA), marking an important stepping stone in implementing and perfecting the pillars to reach level 5 Green Bank...
Nam A Bank representative said: “In the challenging context of the market, Nam A Bank has implemented the right strategy, with high adaptability to create sustainable growth momentum in the first 6 months of 2024. This is also an important premise for Nam A Bank to complete its goals for the year, soon realizing the strategy of entering the top 15 strongest banks in Vietnam”.
Huynh Nhu
Source: https://vietnamnet.vn/nam-a-bank-sap-can-dich-nhieu-chi-tieu-kinh-doanh-quan-trong-nam-2024-2308091.html
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