Accordingly, NCB has implemented a plan to issue individual shares to increase its charter capital by VND6,200 billion. It is expected that after completing the issuance, NCB's charter capital will increase from VND5,602 billion to VND11,802 billion. All proceeds from the private offering of shares to investors will be used to supplement working capital (VND5,300 billion); technology and digital transformation (VND500 billion); building brand identity (VND200 billion) and renovating and upgrading facilities (VND200 billion).
NCB's 2024 business plan targets VND 105,892 billion in total assets, an increase of 10% compared to 2023; outstanding customer loans are expected to reach VND 64,344 billion and customer deposits are expected to reach VND 86,050 billion, up more than 16% and 8% respectively compared to the end of 2023. NCB is also determined to increase its customer base by 15% by the end of the year, reaching 1.15 million customers. The cumulative number of customers using the NCB iziMobile digital banking application by the end of 2024 is expected to reach 595,051 customers, an increase of 34%; the cumulative number of credit cards is expected to reach 31,991 cards, an increase of 28% compared to 2023. Thereby, the bank expects CASA to reach VND 6,075 billion, an increase of 24% compared to the 2023 results.
NCB plans to increase charter capital to 11,802 billion VND
NCB's Board of Directors shared with shareholders about the comprehensive restructuring of the bank. Accordingly, implementing the "Project on restructuring the system of credit institutions associated with bad debt settlement in the period of 2021-2025" according to Decision 689/QD-TTg of the Prime Minister and the guidance of the State Bank, NCB has worked with Ernst & Young Vietnam Co., Ltd. (E&Y) to independently, objectively and comprehensively assess and identify the current situation of the bank, proactively identify goals and propose comprehensive solutions to restructure the bank. NCB also cooperated with KPMG to assess the current status of the internal control system, develop a roadmap to improve the internal control system in line with NCB's development orientation in the following years.
To date, NCB is the first credit institution to complete the construction and submit to the State Bank of Vietnam a restructuring plan (PACCL) and received comments from the State Bank of Vietnam on February 7, 2024. Currently, NCB's PACCL has been basically completed according to the State Bank's requirements, in which it fully and comprehensively presents the current state of NCB's operations in all aspects, on that basis, it determines the overall and comprehensive goals and solutions to overcome existing problems and improve the bank's operational efficiency, ensuring that NCB develops healthily, safely and sustainably.
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