The State Bank has just approved the capital increase of the National Commercial Joint Stock Bank (NCB). Accordingly, NCB is allowed to issue private shares to increase its charter capital by a maximum of VND6,200 billion.
The charter capital increase plan was approved by NCB's 2023 Annual General Meeting of Shareholders in April 2023 and implemented by NCB's Board of Directors in accordance with regulations.
The purpose of offering additional shares and increasing charter capital is to supplement capital for business operations and enhance the bank's financial capacity.
Accordingly, NCB will issue and offer 620 million shares at VND10,000/share, aiming 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 immediately after being approved by the State Securities Commission (expected in the second quarter of 2024). The transfer of these shares is restricted within 1 year from the date of completion of the offering.
NCB is responsible for increasing charter capital in accordance with legal regulations and notifying in writing investors purchasing NCB shares to fully perform their shareholder obligations in accordance with the provisions of Article 54 and Article 55 of the Law on Credit Institutions, Circular No. 50 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 driving force for NCB's comprehensive and strong transformation process, towards the bank's strategic goals. It demonstrates the bank's determination in the journey of restructuring and comprehensive transformation.
According to statistics, the customer base 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 the target of 1 million customers in 2023. By the end of the third quarter of 2023, total capital mobilization from customer deposits at NCB increased by nearly VND 5,000 billion compared to the end of the previous quarter and increased by more than VND 4,000 billion compared to the end of 2022 .
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