On the morning of April 8, National Citizen Commercial Joint Stock Bank (NCB, HNX: NVB) held its 2023 Annual General Meeting of Shareholders. At the meeting, it approved the increase in charter capital by offering private shares to professional investors and other proposals.
According to the business performance report presented by NCB leaders at the Congress, in 2022, NCB will continue to restructure according to the restructuring plan approved by the State Bank .
Regarding the 2022 business results according to this plan, at the end of the year, NCB's total assets increased to nearly VND 90,000 billion, capital mobilization reached more than VND 73,300 billion and outstanding loans reached more than VND 47,700 billion, exceeding the set plan.
NCB's operational safety ratios and liquidity ratios are always closely monitored and comply with State Bank regulations.
As of December 31, 2022, the liquidity reserve ratio remained at 24.09%, the maximum ratio of short-term funds used for medium- and long-term lending was 18.10% - better than the State Bank's requirement.
This result shows that the bank is maintaining a "solid liquidity buffer" that is resilient to market fluctuations.
Target scale of 1 million customers
Regarding the 2023 operating plan, the Board of Directors presented to shareholders a plan for profit distribution, dismissal and election of additional members of the Board of Supervisors, and a number of other issues were also presented to the Shareholders' Meeting and approved with a 100% rate.
Accordingly, the bank aims to reach total assets of VND94,500 billion by the end of 2023, up 5% compared to the beginning of the year. Customer mobilization will reach VND78,000 billion and customer loans will reach VND57,700 billion, up 6% and 21% respectively compared to the beginning of the year.
Pre-provision profit according to the restructuring plan proposed for 2023 is 16 billion VND, down 61% compared to 2022. Target customer size is 1 million customers.
NCB's 2023 Annual General Meeting of Shareholders took place on the morning of April 8.
To achieve the above plans, NCB will focus on exploiting the individual customer segment, which is high-end customers and high-income customers, while focusing on exploiting the young customer group.
For corporate customers, the bank will focus on the small and medium enterprise customer segment (SME, upper SME); effectively exploit customers in the supply chain of large corporations with healthy financial status; comprehensive cooperation partners with NCB.
Charter capital increased to over 11,000 billion VND
The congress also approved the private issuance of up to 620 million additional shares, equivalent to 111% of charter capital, with a total issuance value at par value of VND6,200 billion, to increase charter capital from VND5,601 billion to VND11,800 billion.
The bank said the capital increase is necessary to improve financial capacity and operational safety indicators, improve the ability to prevent risks, and improve the quality of business operations.
The issuance of additional shares to increase capital is expected to be completed within 3 years, from 2023 to 2025. The offering periods must be at least 6 months apart from the end date of the most recent offering period, with the offering price not lower than VND 10,000/share.
In addition, the Congress also approved the dismissal of two members of the Board of Supervisors, Ms. Tran Thi Ha Giang - Head of the Board of Supervisors and Ms. Tran Thi Minh Hue, both of whom submitted resignations for personal reasons.
At the same time, the new Board of Supervisors consisting of 3 members was elected, of which Ms. Do Thi Duc Minh, currently Deputy General Director of NCB, was elected as the new Head of the Board of Supervisors for the 2020 - 2025 term.
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