National Commercial Joint Stock Bank (NCB) has just announced its business results for the third quarter of 2023 with many positive results. In particular, the most prominent is that capital mobilization and customer lending activities achieved growth results in the context of interest rates being adjusted down across the entire system of credit institutions.
Specifically, as of September 30, 2023, total capital mobilization from customer deposits at NCB reached more than VND 75,361 billion, an increase of nearly VND 5,000 billion compared to the end of the second quarter and an increase of more than VND 4,000 billion compared to the end of 2022.
Notably, term deposits continued to maintain an upward trend, reaching VND 70,580 billion as of September 30, 2023, up VND 5,329 billion (8.2%) and VND 5,846 billion (9.02%) compared to the end of the second quarter of 2023 and December 31, 2022, respectively.
Of which, deposits from the individual customer segment alone reached VND 68,605 billion, a sharp increase of VND 6,683 billion (10.8%) compared to the end of 2022 and an increase of VND 5,271 billion (8.3%) compared to the end of the second quarter. These results show the increasing confidence of customers, especially individual customers, in the stable, transparent and developing operations of NCB.
Outstanding credit also increased sharply compared to the end of the previous quarter when total customer loans as of September 30, 2023 reached more than VND 51,112 billion, an increase of more than VND 3,390 billion compared to the end of 2022, equivalent to a credit growth rate of 7.1%.
Contributing greatly to this outstanding credit growth result is the corporate customer segment, when the total outstanding debt of this segment as of September 30 reached VND 31,742 billion, an increase of 11.6% compared to the end of the second quarter of 2023 and an increase of nearly 23% compared to the end of 2022.
This result was achieved because the Bank resolutely restructured its entire customer portfolio, comprehensively improved products and processes, and selected and approached high-quality customers.
At the same time, the bank also implemented activities to strengthen the internal control system and risk management, and handle bad debts. In addition to the strong restructuring process through new business activities and investments, NCB also resolutely identified limitations to focus resources on resolving, determined to soon become a healthy and effective bank.
The above positive growth figures are also proof that NCB is increasingly trusted, relied upon and chosen by the business community to accompany them on their journey of business development.
Recently, NCB has promoted the development of NCB iziBankbiz digital banking for corporate customers with 2 versions of Internet Banking on internet browsers and iziMobiz application on mobile phones, with many outstanding features and attractive incentives, supporting businesses in managing their finances economically, safely and effectively.
NCB also continuously upgrades the NCB iziMobile digital banking application for individual customers to become a safe, smooth "pocket digital bank", meeting all user needs, in parallel with operating the new R21 version of the T24 core banking system, which is highly scalable, easy to integrate with other systems and convenient for upgrading digital transformation, improving service quality and customer experience.
NCB promotes the development of digital bank NCB iziBankbiz for corporate customers.
In the third quarter, NCB recorded a return to growth in total assets, with an increase of 2% compared to the beginning of the year, reaching VND 91,600 billion as of September 30, 2023.
Accumulated in the first 9 months of 2023, total consolidated net operating income reached more than 729 billion VND. In particular, foreign exchange and investment securities trading activities continued to be the bright spots of NCB in the past 9 months. Profit from foreign exchange trading in the first 9 months reached more than 167 billion VND, a remarkable growth compared to the profit of 8.2 billion VND in the same period in 2022.
Investment securities trading activities also achieved positive results, with a profit of VND 101.2 billion in the third quarter of 2023 alone, a sharp increase compared to the previous two quarters and the same period in 2022. In the first 9 months, NCB recorded VND 151.7 billion in profit from this investment activity.
NCB's operational safety ratios continue to be maintained and ensured within the limits prescribed by the State Bank. As of September 30, 2023, the liquidity reserve ratio remained at 15.1%, the maximum ratio of short-term capital used for medium- and long-term lending reached 21.9%, in compliance with the regulations of the State Bank.
According to NCB representative, in the context of the economy still facing many difficulties, negatively affecting the production and business activities of individual and corporate customers, the above positive results have shown the solidarity and outstanding efforts of the collective leadership and staff of NCB.
The Bank has continuously innovated and created in developing and launching new products and services, cooperating with leading domestic and international partners to bring customers products and services "tailored" to their needs.
The recent cooperation with the world's leading strategic consulting firm to build a new strategy for NCB also shows the bank's determination to transform strongly, which is a good foundation for NCB to develop positively and bring more and more value to customers and investors in the future.
In the last months of 2023, NCB said it will accelerate the implementation of comprehensive digital transformation, starting with building a data platform and technology infrastructure platform to launch comprehensive digital products and enhance customer experience .
Thu Huong
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