NCB makes a spectacular breakthrough in a challenging period

In 2024, National Citizen Commercial Joint Stock Bank (NCB) achieved significant milestones, effecting remarkable transformations and progressively advancing towards its objective of becoming a premier provider of financial services and solutions in the market.

The first credit institution to have its restructuring plan approved

The initial milestone for NCB in 2024 is the endorsement of the bank's Restructuring Plan by the State Bank of Vietnam and relevant authorities, aimed at a vision for 2030. As of now, NCB is the inaugural credit institution to finalize the approval process for the Restructuring Plan developed in accordance with the "Project on restructuring the system of credit institutions related to the management of non-performing loans for the period 2021-2025," as stipulated in Decision 689/QD-TTg by the Prime Minister and directives from the State Bank of Vietnam.

NCB is restructured to become a reputable, healthy, and effective bank

The bank said that it has commenced the urgent and determined execution of the roadmap since the second quarter of 2024, with the objective of finalizing the Restructuring Plan by 2029, therefore establishing NCB as a reputable, sound, and efficient bank.

The methodical and comprehensive implementation of the restructuring, in accordance with the approved overall solution and clear roadmap, under the oversight of the State Bank of Vietnam and relevant agencies, amidst ongoing economic challenges, represents a significant endeavor by the entire NCB apparatus. Simultaneously, it illustrates the bank's utmost dedication to partners, customers, and shareholders in its will to cultivate NCB in a healthy, secure, and sustainable manner.

Increasing charter capital & improving financial resources

NCB's objective for 2024 is to significantly augment its charter capital in alignment with the plan authorized by the 2023-2024 Annual General Meeting of Shareholders.

The bank is currently finalizing procedures and has received approval from the State Bank of Vietnam and the State Securities Commission. The bank has chosen 13 professional investors to register for the purchase of individual shares to augment its charter capital.

NCB is anticipated to finalize the augmentation of its charter capital from VND 5,601 billion to around VND 11,800 billion in the fourth quarter of 2024. The roadmap indicates that NCB will persist in augmenting its capital, with projections suggesting that its charter capital will exceed VND 29,000 billion by 2028, in alignment with the Restructuring Plan sanctioned by the authorities. This initiative aims to fortify NCB's financial resources, enhance medium and long-term capital for business expansion, and establish NCB as a reputable, robust, and efficient bank, delivering optimal financial services and solutions in the market.

Collaborating with technology leaders to advance digital transformation

Simultaneously with the restructuring and capital augmentation process, NCB vigorously executed new strategies and digital transformation initiatives, consistently enhancing customer experiences through a "standing on the shoulders of giants" philosophy, in collaboration with a series of esteemed and leading global and regional partners.

NCB cooperates with a series of prestigious and leading partners in the world and the region

In the previous year, NCB entered into cooperation agreements to implement various solutions, including Cloud Computing Solutions and a Data Lake Platform on Google Cloud, a Customer Relationship Management (CRM) platform, an Artificial Intelligence and Machine Learning (AI/ML) platform, and a Decision Engine project, among others, in collaboration with premier technology partners and KPMG Tax and Advisory Limited, to enhance the internal control system in accordance with NCB's development strategy for the next five years.

The bank has recently collaborated with the Center for Research and Application of Population Data and Citizen Identification (RAR) under the National Population Data Center, the Police Department on Administrative Management of Social Order, Ministry of Public Security, to officially introduce the capability of opening an account directly through the VneID application, becoming the first bank to implement this service on the Ministry of Public Security's electronic identification platform.

Thanks to the advancement of digital transformation, the NCB iziMobile application for individual customers has emerged as one of the most favored digital banking applications in the market, offering exceptional user experiences. It is anticipated to introduce the first outstanding and exceptional hybrid digital asset management solution in the Vietnamese market shortly.

Perfecting senior human resources—"promised land" for talented candidates

The human resources efforts of NCB have been a significant achievement over the last year, as it successfully refined its senior human resources framework and recruited several talents from the banking, finance, and technology industries. Through continuous innovation, the establishment of a highly competitive human resources policy within the banking sector, and the cultivation of a positive work environment, NCB has emerged as a premier destination for banking talent, earning the title of "Best Companies to Work for in Asia" for two consecutive years, 2023 and 2024.

NCB was honored as "Best Companies to Work for in Asia" for 2 consecutive years, 2023-2024.

Our team comprises human resources, particularly middle and senior personnel, possessing extensive experience, professional expertise, and managerial capabilities. We consistently invite talented individuals to join, and NCB undergoes an impressive transformation journey, said CEO Ta Kieu Hung.

In 2024, NCB continued its efforts and innovation to enhance product and service quality, introducing a range of customized financial solution packages for individual and corporate customers, thereby establishing a new iteration of NCB with elevated standards to serve the community.